European mobile point-of-sale (mPOS) player SumUp launched its mobile payments platform in the U.S. yesterday (Oct. 21). The company boasts that the platform is the first fully-certified EMV mPOS system to cover the entire payment process.
“It’s a perfect time to bring SumUp to the U.S. The shift to EMV chip cards puts more costly fraud liability on stores without chip terminals – but only half of small businesses are even aware of EMV liability,” SumUp CEO Daniel Klein said in a press release. “EMV is the norm around the world, and SumUp is the platform of choice for EMV transactions in 14 countries today. We are here to help U.S. merchants and partners such as cash register vendors to transition quickly and securely to EMV, by making payments as easy as possible for their customers.”
SumUp’s proprietary, end-to-end payments platform supports card terminals, Android and iOS mobile apps, payment processing and anti-fraud solutions, the company said.
Through SumUp’s contactless card terminal and payment process offering, merchants are able to integrate EMV card acceptance into their existing POS solutions while accepting all major credit cards.
“Mobile payment acceptance solutions, like SumUp, continue to have significant impact on the conversion of cash to electronic commerce globally,” explained Bill Gajda, SVP of Innovation & Strategic Partnerships at Visa. “We are focused on encouraging and supporting the adoption of EMV chip technology in the U.S. as quickly and efficiently as possible, so that everyone can realize the powerful security benefits that EMV chips provide.”
Its EMV contactless terminals are now available for pre-order for $99.
The mobile payment landscape continues to see major moves, with SumUp receiving a €10 million investment from backers that include BBVA Ventures and Groupon in August, which brought its total funding to €50 million at the time.
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