SumUp, one of the myriad of European mobile card reader startups taking advantage of Square’s continued absence in the region to build out a business, is adding support for American Express. Its mobile card reader system already accepts MasterCard and Visa payments but today the startup said it has signed a deal with American Express to process Amex card payments in all “major regions” in which it operates. Its merchants will be able to start accepting Amex in Q2.
SumUp now operates in 10 European countries. It confirmed to TechCrunch Amex payments will be supported in eight of its markets initially — namely: Germany, France, the UK, Ireland, Italy, the Netherlands, Spain and Austria. The two markets where negotiations are ongoing, with a view to also adding Amex support in future, are Belgium and Portugal.
SumUp also confirmed its per-transaction fee remains the same, with no premium for merchants to process Amex. Merchants using SumUp to process a transaction are charged a flat 2.75% per transaction fee.
With the addition of American Express, SumUp said it will be able to accept “more types of cards in more regions than any other mobile point-of-sale technology provider worldwide”. SumUp Co-founder Stefan Jeschonnek said Amex support is a “big deal” for it, and for the tens of thousands of merchants in Europe who use its technology. ”SumUp is about enabling small businesses to grow and for our merchants being able to accept card payments from all the major brands is a big deal,” he added.
Commenting on the tie-up in a statement, Werner Decker, Senior Vice President, American Express, said: “We see SumUp as a smart and convenient way for small businesses to further enable commerce by accepting card payments.”
SumUp added that American Express will also be included as a payment option in its forthcoming consumer payment app — called SumUp Pay — which it demoed at Finovate Europe last week. The app will allow consumers to link their credit card to it and pre-authorise payments with trusted merchants. The payment process does not involve a physical card reader — rather the buyer’s phone is identified as it enters the store, using geofencing technology, and the merchant can then process the payment when the buyer confirms what they want to order.
As yet, there’s no confirmed launch date for SumUp pay.
SumUp’s Amex release follows below.
SumUp to accept American Express
SumUp broadens range of payment options for merchants in major European markets
London – 21th February 2013: SumUp, the company that enables merchants to take debit and credit card payments with their smartphones, has signed a deal with American Express that will allow it to process American Express card payments in all major regions in which it operates. The deal means that SumUp merchants will soon be able to take payments from American Express Card members.
In December 2012, SumUp extended its service to merchants giving it a presence in ten European countries. SumUp’s ability to process American Express payments means that it will accept more types of cards in more regions than any other mobile point-of-sale technology provider worldwide.
Any small business using SumUp will soon be able to accept card payments from all the major card brands for an affordable and transparent fee and without any monthly costs.
Daniel Klein, CEO of SumUp, commented: “It’s extremely frustrating for a merchant when they miss out on making a sale because they can’t accept the type of card a customer wants to use. The only person it’s more frustrating for is the customer who goes away empty-handed. That’s why we’re delighted that we will be able to process American Express card payments on behalf of our merchants and to the advantage of American Express’ thriving and deeply loyal customer base.”
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About SumUp
SumUp is the easiest way for small businesses and sole traders to accept credit and debit card payments securely, even on-the-go.
Using only a free, supremely portable card reader and an app available for iPhone, iPad and Android, artisans, taxi drivers, cafes, restaurants, shops and many other merchants are now able to accept credit and debit card payments anytime, anywhere.
SumUp only takes a fee of 2.75% per transaction made using the SumUp card reader, meaning that businesses no longer have to worry about additional costs, expensive terminals or high monthly fees. The transaction fee is the same for American Express, Visa and MasterCard. SumUp is Europay, MasterCard, and Visa (EMV) compliant and PCI-DSS certified, ensuring that payments are processed in accordance with the highest security standards.
The company was founded in 2011 and already has over 140 employees, and major offices in Berlin, London, Dublin, Madrid, Milan and Amsterdam. SumUp has been available in the UK, Germany, Ireland and Austria since August 2012, in the Netherlands, Spain, and Italy since November 2012, and in France, Portugal, and Belgium since December 2012.
Website: www.sumup.co.uk
SumUp is the easiest way for small businesses and sole traders to accept credit and debit card payments securely, even on-the-go. Using only a free, supremely portable card reader and an app available for iPhone, iPad and Android, artisans, taxi drivers, cafes, restaurants, shops and many other merchants are now able to accept credit and debit card payments anytime, anywhere. SumUp only takes a fee of 2.75% per transaction made using the SumUp card reader, meaning that businesses no...
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