SumUp expands in Europe as it releases proprietary mobile chip-and-PIN reader
Mobile point-of-sale company SumUp today announced the launch of what it called the first proprietary mobile chip-and-PIN device of an mPOS provider in Europe.
The device, called PIN+, is available in Poland and Switzerland as of today before being rolled out across Europe in countries including the UK, Germany, Italy and Spain in the following weeks, according to a press release. PIN+ will cost £79 ($US 132 or 97 euros).
SumUp's said in the announcement its proprietary technology is the first in the world to cover the whole payments process including the chip-and-PIN card terminal, Android and iOS mobile apps, a payment platform with fully certified EMV processing technology, risk and anti-fraud solutions and operations systems.
SumUp said it developed and built PIN+ in less than 18 months after being unable to find an existing mPOS chip-and-PIN device that met the company's strict requirements for small- and medium-sized merchants, according to the press release.
PIN+ is also the first chip-and-PIN device to offer users the choice between Bluetooth Low Energy and a cable connection. Transactions will continue to be charged at 1.95% in the UK with no monthly or per transaction fees.
"No vendor could have supplied us with a chip-and-PIN device to meet our strict criteria for reliability, design and security, along with a user experience that is so intuitive that even merchants who have never accepted card payments before can start selling immediately without having to read a manual," Daniel Klein, CEO of SumUp, said in a statement.
The rollout also marks the expansion of SumUp into Poland and Switzerland, bringing the total number of countries in which SumUp is active to 14, according to a press release. SumUp's move into Switzerland is in partnership with UBS. The bank will offer PIN+ to its entire merchant customer base.