CardUp, the Singapore-based start-up, describes itself as “a credit card enablement platform which enables the payment or collection of big expenses using cards, in places where they are not accepted today”. Despite the high prevalence of credit cards in many economies, there are still situations where they cannot be used for transactions. For instance, property owners and governments are sometimes reluctant to accept payments of rent and tax by credit cards. As a result, people fail to get the most out of their credit cards. Meanwhile, credit card providers, like American Express, Visa and Master Card, see the usage of card suppressed – along with their profits. CardUp was established to address the challenges.
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