are charged a small transaction fee for each successful card

Yes, you are correct. Merchants using SumUp’s payment processing services, including the SumUp Air card reader, are charged a small transaction fee for each successful card payment they process. The transaction fee is typically a percentage of the transaction amount and varies based on several factors, including the type of card used (credit or debit) and the region or country where the transaction occurs.

Here are some key points related to transaction fees with SumUp:

Percentage-Based Fee: The transaction fee charged by Sumup solo is usually a fixed percentage of the total transaction amount. For example, if the transaction fee is 2.75% and the total transaction amount is $100, the fee would be $2.75 (2.75% of $100).

Card Type: The transaction fee may differ depending on whether the customer uses a credit card or a debit card. Typically, credit card transactions have slightly higher fees compared to debit card transactions.

1. Cross-Border Transactions: For transactions processed in different countries or regions, there might be additional fees associated with cross-border payments. These fees may vary depending on the specific countries involved.
2. Contactless and Chip Transactions: The same transaction fee applies to both contactless (tap) payments and chip card payments when processed through the SumUp Air card reader.
3. No Hidden Fees: SumUp is known for its transparent pricing structure, and there are no hidden fees or long-term contracts. Merchants can easily see the transaction fees before processing payments, allowing for clear visibility into their costs.

It’s important for merchants to review the specific transaction fees for their region and business type, as they may vary slightly depending on local regulations and business agreements. SumUp’s official website and customer support can provide detailed information about current transaction fees and pricing in your specific area.

By offering competitive and transparent transaction fees, SumUp aims to provide small businesses and merchants with a straightforward and cost-effective solution for accepting card payments, helping them streamline their operations and offer a convenient payment experience to their customers.