SumUp is the latest company to release a smartphone credit card reader suitable for UK retailers.
Importantly, SumUp accepts both Visa and MasterCard. For MasterCard payments, customers enter a signature on the device. Visa payments are reportedly verified using a clunky-sounding process involving a secure SMS.
SumUp charges a flat 2.75% transaction fee, with no monthly charges. The app and card reader are free. This pricing makes it competitive with iZettle and cheaper than mPowa’s current offering.
[Update: see our round-up of UK mobile credit card readers.]