- SumUp announced the launch of a wide range of new products and solutions at its annual event this week.
- The new offerings include a proprietary Tap to Pay on Android solution, an upgraded Business Account, as well as enhancements to its point of sale solution.
- London-based SumUp won Best of Show in its Finovate debut at FinovateEurope 2013.
Ecommerce and payments platform SumUp took the occasion of its annual Beacon event to announce the launch of a range of new products designed to address a variety of merchant pain points. These solutions include an in-house Tap to Pay solution for Android, and a number of new features to its platform designed to help merchants of all sizes improve cash flow, efficiency, and customer engagement as they scale.
“Each of the products we launched demonstrates how the SumUp product ecosystem has grown to cover the critical needs of businesses at each stage of operations, from micro businesses to established ones with complex operations and many employees,” SumUp Chief Product Officer Anna Kuriakose said. “We believe that SumUp’s integrated ecosystem—which brings together the different aspects of running a business—is incomparable in the value it delivers to our customers.”
SumUp’s Tap to Pay on Android enables merchants to accept contactless payments directly from the thousands of phone brands and models that are not iPhones. The size and variety of the Android market, relative to iOS, has given Android a larger market share in EU countries in particular. SumUp’s proprietary Tap to Pay solution will provide a faster, more streamlined, and more reliable experience for merchants and consumers who have opted for Android. Further, SumUp’s solution features enhanced card detection, PIN entry to boost security at checkout, and delivers higher transaction success rates thanks to SumUp’s payment infrastructure and the absence of upfront costs.
Tap to Pay is currently active in Europe and Brazil. The company plans to introduce the technology in Chile, Colombia, Peru, the US, and Australia “soon.”
SumUp also unveiled a handful of new tools for merchants. These include enhancements to its SumUp Business Account. With SumUp’s new Business Account Plus, merchants will benefit from new features for multiple balances, as well as the ability to issue and track several cards and bulk transfers. The new Plus accounts are slated to go live across core markets later this month.
Additionally, SumUp introduced an upgrade to its Point of Sale solution called POS Plus. Designed with retailers such as restaurants and beauty salons in mind, POS Plus offers features such as PIN-based employee profiles, one-tap promotions, kitchen order management, and the ability to flag out-of-stock items. POS Plus is expected to be introduced to select EU markets in April.
Along with these new solutions, SumUp also announced the release of its new Solo Lite card reader, a new Kitchen Display System (KDS) to help streamline restaurant operations, and more.
Founded in 2012, SumUp won Best of Show in its Finovate debut at FinovateEurope 2013 in London. In the years since then, the UK-based fintech has become the partner of more than four million merchants in 36 markets around the world. With 3,000+ employees in 20 offices globally, SumUp offers payment acceptance solutions, tools to help merchants better manage and save money, and innovative technologies to enhance order management and sales. Co-Founder Daniel Klein is SumUp’s CEO.
Most recently, SumUp announced a partnership with FreedomPay to provide retail and hospitality businesses with a payment system with offline capabilities—including for remote merchants. The system will also feature the ability to access a payment processing service from a single provider, regardless of location.
“At SumUp, we are dedicated to empowering merchants with payment solutions that are as straightforward as they are secure,” SumUp Commercial Lead Joey Oliver explained. “With FreedomPay as our partner, we’re advancing our commitment to making top-tier payment technology accessible and effective for every business.”