SumUp mobile card reader
The growth in mPOS services for businesses has certainly given new startups and existing companies plenty of options in recent times. One of the newer products on the market is the SumUp Air card reader which allows retailers and other businesses to accept card payments on the move. With low start-up costs and competitive transaction rates, there’s a lot to like about this particular mobile card reader.
What is SumUp?
Launched back in 2012, SumUp card reader and POS system has gradually been spreading from country to country and is now available in the UK. It combines a mobile card reader that links up with your smartphone or tablet to enable quick and easy processing of payments. Whether you want to pay through contactless, chip and pin or swipe, the card reader can handle everything, including all major cards and Apple Pay.
The card reader costs slightly under £59 but has been heavily discounted in recent times. The app is free to download as you would expect. As long as you have an internet or wireless connection you can carry out payment transactions wherever you are. There are no monthly costs and you only pay a transaction fee on each purchase – this is currently low compared to other providers at just 1.95% for all transactions.
The process is simple – you enter the transaction in your mobile app and the customer then pays using the card reader. As with many mobile POS devices nowadays, you can’t print off receipts without additional equipment but you can send them by print or email which is a lot eco-friendlier.
Who Does it Work for?
SumUp is a good all-round card reader which will suit a variety of businesses. The SumUp POS service provides a lot of value added extras including reporting and analytics as well as inventory management. It will also allow you to do bookings online and, if you are a restaurant, manage tips. For any business that works on the move, SumUp provides a simple and elegant solution for card payments.
The Pros of SumUp
- The current low transaction rate is also going to be a big attraction for small businesses, though this may rise as popularity increases.
- Most other providers use a graded transaction fee system whereas here you will only be charge 1.95%, whether the payment is £1.50 or £1,500.
- The low cost of the reader and competition between providers means that you can often find it for under £30.
- There’s no monthly fee or other costs, as we’ve come to expect from most mPOS services nowadays.
- The battery life of the SumUp reader is better than some others on the market and you can expect it to carry out about 500 transactions before you need to recharge.
The Cons of SumUp
- Processing can take a little time and it can be 2 or 3 days before you can access your money after a payment.
- If you are processing large numbers of transactions, over £5,000, the standard 1.95% fee becomes a lot less attractive because POS systems such as iZettle offer better discounts.
- As with many other POS services, customer help can often be a hit and miss affair but this is something the company is trying to improve as it becomes more successful.
Overall, the SumUp card reader and mPOS service are ideal for start-ups and small to medium sized companies who want flexibility and control over their payment system. The low transaction rate of 1.95% will suit many businesses that are processing under £5,000 a month, where it out performs most competitors.