Mobile EMV and NFC Payment Processing
SumUp is not a traditional merchant account, instead, it serves as a mobile processing app for iPhone and Android users based in either the US, UK, or EU. The service is similar to its US predecessor Square. It includes a proprietary EMV-compatible card reader for £29.00/€39.00/ $69, a phone app, an account setup, and a flat processing fee of 1.69% or UK/EU merchants and 2.65% for US merchants for all card types and transactions with no additional fees. In October of 2018, the company introduced a 3G powered card reader allowing merchants to complete wireless transactions without wi-fi or Bluetooth. Merchants will not incur any data costs while using this reader.
SumUp Merger and Expansion
In April 2016, SumUp merged with Payleven, but the newly formed entity retained the SumUp brand. Currently, SumUp is available in Austria, Belgium, Brazil, Bulgaria, Chile, Cyprus, Czech Republic, Denmark, Estonia, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom, and the United States of America. For the purposes of this review, SumUp will be considered a UK company, but we will include both U.S. and UK pricing information. In February of 2019, the company announced its acquisition of the e-commerce company Shoplo in an effort to expand the company’s e-commerce offerings for merchants.
SumUp Location and Ownership
SumUp can be seen as a direct competitor to iZettle, another similar service that entered the European market around the same time as SumUp. SumUp is headquartered at 32-34 Great Marlborough St, Soho, London W1F 7JD, UK and a US-based office at 1209 Orange Street Wilmington, DE. SumUp is a registered Payment Facilitator of Fifth Third Bank, an Ohio Corporation. Daniel Klein is listed as the CEO of SumUp.
SumUp Review Table of Contents
- Costs & Contract: SumUp offers a month-to-month agreement with a fixed per-transaction fee and a one-time cost to purchase a card reader.
- Complaints & Service: SumUp has received more than 100 public complaints.
- BBB Rating: SumUp has an “A+” rating with the Better Business Bureau and has received 4 complaints and 1 review in the last 3 years.
- Sales & Marketing: SumUp does not appear to hire independent sales representatives and has not received any major complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With SumUp
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