SumUp and Visa enter partnership to revolutionize the mobile payments market

SumUp to join the Visa Ready Program as one of Visa’s preferred mPOS innovation partners

London – June 5, 2013

SumUp, the company that empowers merchants to take debit and credit card payments with their smartphones and Visa, the world’s largest retail payment network, have today announced a partnership to help accelerate deployment of affordable and secure mobile point-of-sale (mPOS) solutions worldwide. The alliance combines Visa’s global expertise in payments with SumUp’s leadership in mPOS solutions and cutting edge hardware._

Through this partnership, SumUp will participate in the Visa Ready Program and have its mobile acceptance hardware and software tested and approved for use with Visa payments. In addition, SumUp and Visa will work closely together in further developing SumUp’s end-to-end payment solution, including proprietary hardware and operations systems, while also driving new business opportunities in key emerging markets outside Europe.

Daniel Klein, CEO of SumUp, comments: “We are delighted to participate in the Visa Ready Program as one of Visa’s preferred mPOS innovation partners. Entering a partnership with such an important global player will help us to fulfil our vision of empowering small businesses by radically simplifying payments, reinventing the point-of-sale experience and ultimately helping improve merchant-customer relationships. It will also enable us to unlock significant new business opportunities beyond Europe.” As part of the agreement, SumUp will have access to guidance, best practices, APIs (Application Program Interfaces) and SDKs (Software Design Kits) from Visa, including:

  • Tools: Reference applications and tools to enable the ongoing development of magnetic stripe, EMV-chip (contact and contactless), and mobile acceptance solutions.

  • Direct Connection to Visa: In select countries, Visa can enable SumUp to directly connect to Visa through the Visa POS Solutions platform or payment gateways such as CyberSource and Authorize.Net, the merchant platforms acquired by Visa in 2010. This will enable simplified processing of EMV-chip transactions.

  • Value-Added Services: Visa can also provide SumUp with access to value-added services, such as the ability for merchants to offer instant redemption of special offers at the point-of sale.

  • Visa Ready Symbol: SumUp will be able to use the Visa Ready symbol to promote and market its devices once they have been approved for use with Visa payments.

The announcement of the strategic alliance with Visa follows SumUp’s recent announcement of a two-digit million Euro investment into SumUp by American Express and Groupon.

Media contact: Robert Bownes | [email protected] | +44 20 7324 6190