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Days after announcing it would open its mobile point-of-sale platform, SumUp announced that it will be signing merchants in Italy, Spain and the Netherlands. This expansion puts SumUp ahead of other European mPOS companies in terms of countries served. SumUp is also available in Germany, the U.K., Ireland and Austria. (Technically, that means it has the largest footprint of any mobile POS company.)
The news of its increasing footprint follows just a few months after SumUp raised around $20 million in Series A funding.
SumUp also noted that it's the only mPOS provider that accepts both Visa and MasterCard in every country where it operates, a shot at Swedish competitor iZettle, which has had issues with Visa card acceptance in three of its markets. (iZettle has issued a workaround for the issue, but its merchants still can't use the card reader to accept Visa cards in Denmark, Finland and Norway.)
"Too many merchants in countries all over Europe are unable to take credit and debit card payments because traditional banks’ expensive and complex model of renting out terminals is a poor fit for their businesses," said SumUp CEO Daniel Klein. "Given this, it’s not surprising that there’s been an enormous demand for our solution."
Klein said that SumUp's move into Italy, Spain and the Netherlands means that the company is going further than ever towards meeting the market's demand and that SumUp will be expanding into other markets in the future.
Available for both iOS and Android devices, SumUp is similar to other European mobile POS companies. Often referred to as "Square clones," SumUp and its ilk allow merchants the ability to accept credit card purchases using a card reader and app on a smartphone. The big difference between SumUp and Square (and U.S. competitors) is that SumUp's reader processes EMV smartcards, which are the standard in European countries.
For more on this topic, visit the POS research center.