SumUp, Europe’s leading mobile point-of-sale (mPOS) company with financial backing from American Express,
Groupon and BBVA Ventures has today launched its mobile payments service in Sweden. With today’s launch, the company is now present in a total of 14 countries, including Germany, the UK and Brazil. The market entry in Scandinavia follows the company’s recent announcement of a new €10 million injection.
With its PIN+ Card Terminal, SumUp will be the first company to offer a proprietary card terminal to small businesses in Sweden, beautifully designed and specifically tailored to the target group’s needs. SumUp is the only company in the card payment industry to not only develop its own software and perform payment services in-house, but also design and develop its own card terminals. For this reason, SumUp’s devices offer a unique combination of reliability and ease of use. Using the company’s PIN+ Card Terminal with their smartphones or tablets, Swedish merchants will be able to accept all major credit cards, including MasterCard, Visa and American Express. SumUp will offer one simple percentage fee of 1.9% per transaction - one of the lowest fees in the market.
Daniel Klein, CEO of SumUp, comments: “Swedes pay more frequently by card than any other European nation; this makes Sweden a very interesting market for us. We are excited to provide Swedish merchants with a simple and easy-to-use card acceptance experience that is so intuitive that even those who have never accepted card payments before can start selling immediately without having to read a manual. By offering one fixed percentage fee per transaction with no hidden fees we will also give them the peace of mind to know exactly how much they pay every month, independent from how sales are going. With this package and given our huge success in the rest of Europe, we predict Sweden to be a great market for SumUp.”
Strategic partnerships with big players in Sweden will be announced soon, complementing SumUp’s strong partnership portfolio across Europe, including Unicredit, UBS, Tupperware and mytaxi.