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Mastercard, SumUp team up for electronic payment acceptance

Thursday 25 July 2019 | 01:42 PM CET

Mastercard and SumUp have announced a new partnership that will increase the number of electronic payment acceptance locations across 27 European countries.

Established in 2012, SumUp delivers credit card readers to allow businesses and merchants to accept card payments. Till now, the company has expanded to 31 countries including the US, Germany, and Brazil. Over the next five years, Mastercard and SumUp aim to bring card acceptance to several million micro, small and medium-sized companies (MSMEs) across Europe.

The partnership will enable MSMEs to accept electronic payment via SumUp card readers by card and digital enabled devices, such as smartphones, smart watches, or wristbands. In a world in which consumers expect choice and convenience, it aims to enable small companies to better serve their customers by giving them the option of paying with their preferred payment method.

Earlier in 2019, the UK-based mobile point-of-sale (mPOS) company SumUp has raised USD 371 million loan from investors to support expansion.

More: Link
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