SumUp expands to U.S. with launch of new NFC card terminal
Europe’s Leading Mobile Point-of-Sale Provider to Offer New Contactless Terminal, Delivering Multi-Functional Mobile Payments Acceptance for U.S. Merchants
San Francisco – October 21, 2015
SumUp, Europe’s leading mobile point-of-sale (mPOS) company, today launched its mobile payments platform in the United States. The country migrates to EMV chip technology as new payment standard, including a liability shift in case of fraudulent transactions starting this month. SumUp’s proprietary, end-to-end payments platform is the first fully-certified EMV mPOS system in the world to cover the entire payment process: card terminals, Android and iOS mobile apps, a payment processing platform and risk and anti-fraud solutions. The company is also making a new EMV contactless card terminal available for pre-order for $99 at SumUp.com.
The new contactless SumUp terminal has been specifically developed for the U.S. and connects wirelessly to any smartphone or tablet. It is the most advanced EMV-compliant mPOS device in the U.S. market that gives merchants the flexibility to accept payments however their customers want: via swipe; with electronic and e-wallet payments via NFC, including Apple Pay and Android Pay; and with EMV chip cards -- the new card standard. SumUp’s end-to-end solution brings U.S. businesses the same simple and reliable mobile payments platform that is used by tens of thousands of satisfied merchants in 14 countries every day. And SumUp is adding thousands of new merchants every week.
“It’s a perfect time to bring SumUp to the U.S. The shift to EMV chip cards puts more costly fraud liability on stores without chip terminals - - but only half of small businesses are even aware of EMV liability," said Daniel Klein, CEO of SumUp. "EMV is the norm around the world, and SumUp is the platform of choice for EMV transactions in 14 countries today. We are here to help U.S. merchants and partners such as cash register vendors to transition quickly and securely to EMV, by making payments as easy as possible for their customers."
SumUp is the only company in the mPOS space to cover the entire payment process end-to-end in house. It’s also the only company that designed and developed its own EMV card terminals. This end-to-end offering makes it attractive for merchants and partners alike. For POS vendors, SumUp’s contactless card terminal and payment process offers a seamless way to integrate EMV card acceptance into their own POS solutions.
“Mobile payment acceptance solutions, like SumUp, continue to have significant impact on the conversion of cash to electronic commerce globally,” said Bill Gajda, SVP, Innovation & Strategic Partnerships, Visa Inc. “We are focused on encouraging and supporting the adoption of EMV chip technology in the U.S. as quickly and efficiently as possible, so that everyone can realize the powerful security benefits that EMV chips provide.”
U.S. merchants will be able to accept all major credit cards, including Visa, MasterCard and American Express. SumUp offers a simple and competitive per-transaction fee of 2.75 percent.
Launched in 2012 and with more than $56 million in funding, SumUp is now available in 15 countries worldwide, including the U.K., Germany and Brazil. Strategic partnerships with major U.S. companies will be announced soon, complementing SumUp’s strong partnership portfolio across Europe.
SumUp is the leading mobile point-of-sale (mPOS) company in Europe and is set to empower the world to accept card payments. With SumUp, merchants can accept credit and debit cards, using their smartphones or tablets, in a simple, secure and cost-effective way. SumUp's mobile card acceptance solution is built on proprietary end-to-end EMV payment technology, terminal hardware, and mobile applications. SumUp only charges a simple, low percentage fee per card transaction. The company is authorised as a Payment Institution by the Financial Conduct Authority (FCA) and is Europay, MasterCard, and Visa (EMV) and PCI-DSS certified, ensuring that payments are processed in accordance with the highest security standards. Launched in August 2012, SumUp has expanded into 15 countries, including the U.S., Germany, the U.K. and Brazil.
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