Dublin-based firm SumUp has officially launched in four European countries, including Ireland. The company unveiled its mobile point-of-sale technology following a four-month testing period.
The technology is aimed at small businesses that don’t use card terminals. Merchants use a free app and card reader to turn their mobile device into tills, enabling them to process card payments.
The technology is used by connecting the card reader to the headphone jack of the iOS or Android-based device, opening the app and entering the amount to be transferred. The customer is then prompted to insert their card and authorise the transfer by signing with a finger on the touchscreen device. Confirmation is given immediately and customers can receive a receipt via email or text message.
SumUp CEO Daniel Klein said: “A lot of small businesses are operating on very tight margins, and can’t afford to lose out on making a sale because they can’t process a card payment. Our mission is to reduce the expense, remove the difficulty, and make it possible for every merchant to accept card payments. We have founded SumUp to provide a secure solution that solves a real problem for small merchants by harnessing the boom in smartphone technology.”
The company take a 2.75% cut of every transaction made using the app and card reader. SumUp was founded in 2011 and currently employs over 100 people in offices in Dublin, London and Berlin.
Fiona Donnellan
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