Good price - they do regular deals. We've been using now for over a year and it's been very reliable and cheaper then Zinc. Sumup may be 0.06 less in fees, I've not used them. We have used iZettle and have had no issues with super prompt payments. Another advantage of using one of these suppliers is not to bother with a PCI DSS annual cash generation scheme audit.required by the "big" providers, and largely unnecessary for a small trader taking face to face payments.
Surely Sumup is better deal. 1.69%
The card issuer takes a cut to pay for any cashback / rewards on the card and not everyone pays interest on purchases. The network owner (Visa / Mastercard / Amex) take a cut for enabling all this. It is practically difficult to build a network that enables any card issued anywhere on the planet to be used anywhere and provide real time updates to the consumer (like Revolut does). The same networks enable a card to be blocked real time if lost or stolen. Plus the investments required to mitigate fraud. There is an element of profit and frankly, it is also because of a first mover advantage. I don't have a problem with the 1.7% because there is a greater cost to using cash only which most of us don't realise - loss of business as online shopping becomes impossible, lower tax collection, significantly higher costs of just handling the cash, etc.
You can be a sole trader, e.g a self employed taxi driver, electrician etc. Just put your business name as your own name if you don't have a business name.
Must you have a registered business to accept payments using this?