The Howdy Glossary

SumUp is a point-of-sale (POS) software developed to provide transaction processing services for small and medium-sized businesses. It enables these enterprises to accept credit and debit card payments via mobile devices like smartphones or tablets. The platform includes tools for on-location transaction processing through its app and Bluetooth-connected card reader, which support features such as tipping options, digital receipts, product libraries, sales history tracking, and the capability to accept payments offline. SumUp aims to offer an affordable service by implementing transparent fee schedules that typically charge per-transaction rates without fixed contractual terms.

Established in 2012 by Daniel Klein, Marc-Alexander Christ, Jan Deepen, and Stefan Jeschonnek, SumUp was created to meet the demand for a simple and cost-effective solution for accepting card payments in small and medium-sized businesses. It provides tools that allow these businesses to process transactions anywhere using mobile technology. Features like tips handling, digital receipts issuance, inventory management through product libraries, sales tracking capabilities combined with transparent per-transaction fee structures make SumUp a straightforward alternative compared to traditional merchant accounts with complex fees.

Competing against established POS solutions like Square, PayPal Here, and Shopify POS presents significant challenges for SumUp due to their comprehensive features and robust customer bases. However, SumUp differentiates itself with simplicity in pricing—offering per-transaction fees without fixed contracts—and flexibility through mobile payment acceptance. This focus caters specifically to the needs of small businesses requiring mobility in transaction processing while also providing enhanced features such as tipping options and offline payment capabilities. These distinctions make it an attractive option for merchants looking for cost-effective yet efficient POS systems tailored towards enhancing customer experience while avoiding complicated fee structures seen in more traditional merchant service providers.