SumUp

paymentsmobile/digital walletpos/mobile pos

FOUNDING YEAR: 2011
LOCATION: United Kingdom
Last Update: 01/05/2020

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About

SumUp is a leading financial technology company that is set to become the first ever global card acceptance brand. The company enables businesses to accept card payments in-store, in-app and online in a simple, secure and cost-effective way.SumUp is the only company to offer an end-to-end EMV card acceptance solution built on proprietary hardware and mobile apps with a full suite of SDKs and APIs for third parties to integrate card payments into their mobile apps. The SumUp product suite also provides each business with a Virtual Terminal and SumUps state-of-the-art SMS (text message) payment application.This unique offering enabled SumUp to rapidly expand into 31 markets, including the U.S., Brazil and Germany.

MEDICI Analysis

SumUp is a mobile point of sale (mPOS) company. With the SumUp device, merchants and small businesses can accept credit and debit cards, using their smartphones or tablets in a simple, secure and cost-effective way.

Focus

PRODUCTS & SERVICES

Sumup offers mobile EMV point-of-sale (mPOS) In Europe. The company has created an unique device that allows users to transact by pairing with their smartphone at any place. The company also provides suite of APIs and SDKs for integrating SumUp payment into other apps and services. The company has received regulatory certification such as PCI PTS V4.0 Certified, SRED EMV Level 1 & Level 2 certificates Mastercard Pay Pass, Visa Pay Wave, American Express Expresspay MasterCard TQM MasterCard TIP, Visa ADVT certified Visa Ready certified

REVENUE MODEL

Company makes out money by charging fixed fee of 1.9% per transaction.

MAIN CLIENTS

Consumers

EXISTING PARTNERSHIPS

Bitpay

mytaxi

Traction

VALUATION / MARKET CAP:

$300 M in 2015

Innovation Programs

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