CardUp charges you a transaction fee for each payment made.

Every transaction you complete using CardUp will incur a 2.6% transaction fee. This can actually add up over time, especially if you’re relying heavily on CardUp. That being said, if your card offers cash rebates or frequent flyer miles, you may easily be able to offset the transaction fee. CardUp works by being a middleman in your transactions. Instead of directly transferring funds from your account to a vendor, you pay CardUp via credit card. CardUp will then transfer the funds to your designated vendor. CardUp charges you a transaction fee for each payment made.

CardUp

CardUp is a private company that was founded by Nicki Ramsay in 2015. It is an online card payment service that manages cash and enables cash payments made via bank transfer, cash or cheque, to be transferred to credit cards even where credit cards aren’t accepted. Big payments can be digitized and paid/received via credit cards. This provides the benefit of getting credit card rewards and interest-free credit. The company is funded by Global FinTech Hackcelerator, Sequoia Capital and SeedPlus and has an annual estimated revenue of $6 million. MatchMove Pay, Soft Space, and AsiaPay are competitors of CardUp. CardUp supports the payment of rent, insurance, taxes, education fees, condominium fees, payroll, business services, suppliers, car loans, electricity bills, and other miscellaneous payments. CardUp serves clients in Singapore and accepts all credit and debit cards issued in Singapore and overseas that are issued by Visa, MasterCard and AMEX networks.

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