independent

Friday 18 April 2014

Smartphone payment firm to increase international expansion

TECH firm SumUp is to increase its international expansion under plans announced yesterday.

The Dublin-based company, which lets shops and other merchants take debit and credit card payments with their smartphones, launched yesterday in France, Belgium and Portugal.

The move brings to 10 the number of countries SumUp is now operating in throughout Europe. It launched in the UK and Ireland last August.

It also means the firm is now operating its point-of-sale business in more markets than any of its competitors.

Importantly, it can process Visa and Mastercard payments in all the markets where it operates.

The service is available for the iPhone and Android devices.

SumUp created 40 jobs in Ireland last September after it raised $20m (€15m) in new funding.

Company chief executive Daniel Klien said the expansion into new markets was "crucial" for the business.

"We have now brought pay-as-you-go card payments to the 10 central European economies and will continue to innovate to ensure that we maintain our position as the mobile point-of-sale company with the largest international footprint," he said.

The company has been described as a European version of the high-profile payments business Square, which was set up in the US by Twitter founder Jack Dorsey.

Through a card reader attached to a smartphone, a merchant can charge a buyer's card in seconds.

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