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May 26, 2020

SumUp launches payment tool to help businesses during Covid-19

By Evie Rusman

UK-based payments provider SumUp has launched an online payment tool to help businesses adapt to ongoing social distancing measures.

The solution is part of the company’s drive to provide a complete toolkit for merchants. It follows the March lauch of SumUp invoicing and Mobile Payments.

In addition, the solution will allow merchants to showcase products remotely, facilitating the making and taking of all payments.

Marc-Alexander Christ, SumUp co-founder, said: “This expansion of our services is something that we feel confident will help our merchants continue to trade despite the Covid-19 lockdown, and further empower them in the running of their companies – both now, but also after the lockdowns.

“Different types of businesses depend on multiple methods to receive and make payments. By providing these new products, we can become the one-stop-shop for merchants with a growing business.”

The new product

The SumUp Online Store is a SaaS product and comes with a multi-tiered model and subscription pricing:

  • SumUp Online Store (Starter) – a simplified version of an online store. It allows micro-businesses to showcase their products or services and take payments via social channels such as Instagram, Facebook Messenger and WhatsApp. The service has no subscription charge, with a 2.5% fee per transaction.
  • SumUp Online Store (Professional, Advanced & Premium – launching in June, SumUp’s Premium store subscription allows SMEs to set up and design their own online store. Transaction fees range from 1.95% to 2.5%, with monthly subscription costs from £9.

SumUp Online Store Starter is now available to merchants in the UK, Ireland, Italy, Germany, France, and other European markets.

Christ added: “SumUp has already helped over 2m users receive payments in the physical world with our card readers. During this challenging time for small business owners, we can now make it easier to bring products online, whether on a smaller scale with SumUp Online Store Starter or by fully extending a physical store into the digital world with SumUp Online Store’s top tiers.”

The new services also incorporate the recently-launched SumUp Card. The card is powered by Mastercard and allows small businesses to access their funds, while enabling them to closely monitor their finances, and helping them make essential business payments.

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