SumUp and Mastercard to launch prepaid cards for business users
SumUp, a UK-based fintech, has announced the launch of its first-ever card for business payments, in partnership with Mastercard. The card is designed to allow merchants quicker access to their funds, give them the ability to monitor their finances, and help them make business payments.
With the launch of the ‘SumUp Card’, the company is now able to facilitate both the making and taking of payments. The new addition to the product suite will allow payments taken by merchants via SumUp readers to flow directly to their SumUp Card. The card also guarantees next-day payouts, with all purchases and balance being monitored through the SumUp App.
The card is available to SumUp merchants with no upfront cost or monthly fee, as well as free overseas payments. Online, contactless, and chip-and-PIN payments are available. The card has been designed to streamline the process from point-of-sale, to payment, to accessible funds.
“This extended partnership brings more innovation to micro, small and medium-sized businesses offering a convenient way for them to pay and be paid using the simple, speedy and secure payment experience they’ve come to expect from Mastercard anywhere in the world” commented Jason Lane, executive vice president, Market Development, Europe at Mastercard.