SumUp

SumUp
Private
Industry Technology
Founded 2011 (2011) in London, United Kingdom[1]
Founder
  • Daniel Klein
  • Petter Made
  • Stefan Jeschonnek
  • Jan Deepen
  • Marc-Alexander Christ
[2]
Headquarters London, United Kingdom
Key people
 Daniel Klein (CEO)
Website sumup.co.uk

SumUp is a mobile payments company headquartered in London with offices in Berlin, London, Boulder (CO), Sofia, Amsterdam and São Paulo.[3]

History

SumUp was founded in London in 2011. Investors include American Express, BBVA Ventures and Groupon.[3]

It was officially launched in August 2012.

Payleven acquisition

In April 2016, SumUp announced it would merge with competitor Payleven,[4] a Berlin-based mobile payments provider by Rocket Internet.[5]

Products

  • Chip & PIN and NFC card terminal: SumUp's main product is an EMV card reader which can read magnetic strip, chip ("Chip and Pin"), and RFID/NFC ("contactless") payment cards.[6] The card reader pairs with an Android or iOS-based smartphone or tablet via Bluetooth, to verify payments through the Internet.
  • Point of sale system: As an all-in-one register, SumUp Point of sale system "POS register" consists of a SumUp card terminal, a pre-configured iPad, an iPad stand, a receipt printer, a cash drawer and a Wifi router.[7]
  • SDKs & APIs: SumUp allows third parties to integrate the end-to-end payment infrastructure as well as card terminals via the SumUp Terminal Payment SDK for iOS and Android as well as several other APIs for developers. Through the integration with the open SumUp platform, third parties can offer card acceptance via their native or browser-based applications. SumUp's SDKs and APIs support acceptance of Visa, VPay, Mastercard, Maestro, American Express, Apple Pay, Android Pay as well as local debit card schemes.[8]

Global reach

SumUp is active in 31 countries. In August 2012 the company launched service in Germany, Austria, United Kingdom and Ireland. In November 2012, Italy, Spain and the Netherlands followed as new markets.[9] One month later, in December 2012, SumUp expanded to France, Belgium and Portugal.[10] In November 2013, SumUp launched service in Brazil.[11] Since May 2014, SumUp also operates in Poland and Switzerland.[12] Sweden was launched in September 2015.[13] Since October 2016, SumUp is also operating in the US.[14][15] In September 2017, SumUp launched its service in 15 European countries - Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, Greece, Hungary, Latvia, Lithuania, Luxemburg, Malta, Norway, Slovakia and Slovenia. In November 2017, SumUp announced a joint venture with Banco Estado del Chile.[16] The combined business operates under the brand “Compraqui” and is headquartered in Santiago de Chile.[17]

References

  1. ↑ "SumUp Payments Limited: Private Company Information". Bloomberg. Retrieved 2017-01-23.
  2. ↑ "SumUp". crunchbase. TechCrunch. Retrieved 2017-01-23.
  3. 1 2 "About SumUp". SumUp. Retrieved 2017-01-23.
  4. ↑ Ingrid Lunden (27 April 2016). "SumUp and Payleven merge as European 'Square clones' consolidate". TechCrunch.
  5. ↑ Robin Wauters (27 April 2016). "Fintech Fusion: European mobile payment startups SumUp and Payleven confirm merger". tech.eu.
  6. ↑ "Contactless Card Reader NFC". SumUp. Retrieved 2017-01-23.
  7. ↑ "iPad POS system - Point of Sale | SumUp". sumup.co.uk. Retrieved 2018-01-04.
  8. ↑ "SumUp releases new SDK and API for iOS and Android developers » PaymentEye". www.paymenteye.com. Retrieved 2018-01-04.
  9. ↑ Lunden, Ingrid. "SumUp, Another European Square, Expands To Italy, Spain And Holland, Now Covering 7 Countries 12 Weeks Into Launch". TechCrunch. Retrieved 2018-01-04.
  10. ↑ Lomas, Natasha. "SumUp, Another European Square, Expands To 3 More Markets: France, Belgium, Portugal — Now Taking Payments In 10 Markets". TechCrunch. Retrieved 2018-01-04.
  11. ↑ Finextra (2013-11-13). "SumUp opens Sao Paulo office for Brazil launch". Finextra Research. Retrieved 2018-01-04.
  12. ↑ Online, FOCUS. "Mobil-Bezahldienst SumUp expandiert mit neuem Lesegerät". FOCUS Online (in German). Retrieved 2018-01-04.
  13. ↑ "SumUp takes on iZettle on its home turf, Sweden". Tech.eu. Retrieved 2018-01-04.
  14. ↑ "SumUp Launches US Expansion With EMV Terminal | PYMNTS.com". www.pymnts.com. Retrieved 2018-01-04.
  15. ↑ "SumUp expands to the US market » PaymentEye". www.paymenteye.com. Retrieved 2018-01-04.
  16. ↑ Finextra (2017-11-21). "BancoEstado and SumUp to launch mobile card acceptance in Chile". Finextra Research. Retrieved 2018-01-04.
  17. ↑ "SumUp teams with BancoEstado for cool mobile card deal in Chile | Banking Technology". www.bankingtech.com. Retrieved 2018-01-04.
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