Score of 89.9/100 qualifies for PaymentCheck Certification
SUMUP PAYMENTS LIMITED exhibits a strong trend of timely payments, with an average payment time of 27 days. A significant 92% of invoices are consistently settled within 30 days, indicating a generally quick and reliable payment cycle. This trajectory suggests a predictable and prompt approach to supplier remuneration.
Despite the overall speed, 8% of payments are classified as late, introducing a minor degree of unpredictability. A notable 5% of payments extend beyond 60 days, indicating a low but present risk of significantly delayed settlement for some invoices. Suppliers should acknowledge this variability, though the majority are paid promptly.
Overall, SUMUP PAYMENTS LIMITED presents a largely favorable payment profile, with 92% of invoices paid within 30 days and an average of 27 days. Key decision factors include the strong average performance versus the small percentage (8% late, 5% over 60 days) of outliers. Suppliers can mitigate risk by clearly defining payment terms and proactive follow-up on invoices nearing or exceeding the 30-day mark.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2024 - 31 Dec 2024 | 27 Mar 2025 | 27 | 92% | 3% | 5% | 8% |
| 01 Jul 2023 - 31 Dec 2023 | 05 Jun 2024 | 25 | 63% | 34% | 3% | 37% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Sumup standard terms are 30 days from receipt of a correctly presented invoice.Some suppliers provide longer payment terms as part of the formal negotiation to provide a more attractive commercial condition.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
75
1. Email: payments@sumup.com to understand the root cause of the issue. If resolved, payment is made. If not, escalated to the Purchasing & Procurement Team 2. Email to Purchasing & Procurement Team: for key vendors direct communication. 3. If required, Stakeholder/Process owner can be queried for a position/decision on invoice query.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
SUMUP PAYMENTS LIMITED is a private limited company that specialises in payment solutions. Its company name directly indicates a core focus on facilitating payment transactions.
The company is active and was incorporated on 7 November 2011 under company number 07836562. Its registered office is located in London at 16-20 Shorts Gardens, London, England, WC2H 9US.
Companies of this type in the UK market typically provide services such as point-of-sale systems, card readers, and online payment gateways. They offer tools that enable businesses to accept various forms of digital and card payments from customers.