To describe it fast I could say that SumUp is the Square of Europe, but because many of us still don’t know what is Square itself in the US or how it works then this explanation by Florian Richter is perfect.
SumUp is a mobile payment solution, but I would say is really a payment solution for all small sellers and merchants across Europe. Up to now these businesses couldn’t have a credit and debit card system like the regular stores because of costs, bureaucracy, and technical restrictions. But now just by having any mobile device like a smartphone or tablet this is all resolved.
In this interview Florian explains, from London, what is SumUp, where and how it works:
This is SumUp’s demo on Finovate Europe, a financial technology trade show: