Irish company SumUp have launched a low cost mobile payment solution in Ireland, the UK, Germany and Austria. The service allows merchants to convert their mobile phones into card terminals for accepting card payments.
By the sounds of things it’s like an Irish and EU version of Square.
Similar to Square, SumUp offer a fixed transaction fee of 2.75% with no setup fees.
While this is probably very attractive for merchants who want to “dip their toes” it may not be as economical when the merchant starts doing any serious volumes. (Debit cards normally have a fixed fee per transaction instead of being percentage based).
About the Author: Michele Neylon
Michele is founder and managing director of domain registrar and hosting company Blacknight. He blogs mostly over on michele.blog
