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March 23, 2020

Covid-19: UK fintech SumUp to waive fees on mobile payments

UK-based fintech firm SumUp has decided to waive fees related to its mobile payments platform to help businesses impacted by the deadly coronavirus (Covid-19).

The move will allow businesses to process payments virtually by sharing a link through WhatsApp, SMS, or an email through their devices.

It will help small businesses impacted by the pandemic to manage and sustain their operations to keep the business open.

Apart from the fee waivers, the fintech is also introducing invoicing services for its existing clients, which is available from 21 March and free of cost until 30 April.

The invoicing service is expected to help vendors send and maintain electronic invoices of the company.

The free invoicing feature will be available in select European countries such as the UK.

Headquartered in London, SumUp recommends its clients to use a credit or debit card, Apple Pay, and Google Pay for contactless payments, whenever possible.

SumUp co-founder Marc-Alexander Christ said: “SumUp currently serves millions of small businesses and artisans, many of whom are still able to keep their shops open and carry on selling their services, while others have to entirely reinvent their core offering.

“That’s why, at a time when pre-emptive measures are being implemented throughout Europe and consumer behaviour is drastically changing, we think it’s extremely important to encourage people to use remote payments solutions that preserve the health and safety of our society and can serve as a potential boost for many small businesses in these difficult times.”

Last month, SumUp partnered with Mastercard and launched its own card for business payments.

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