Payments service provider SumUp has expanded its product offering into the B2C space with the launch of a digital wallet – SumUp Pay.
SumUp currently supports more than four million small businesses globally with its mobile point-of-sale (mPOS) offering, but its first direct-to-consumer aims to make shopping locally ‘easier and more rewarding’.
The SumUp Pay app, available in the UK, Germany and Italy via Apple’s App Store and Google Play Store, offers a secure payment mechanism for consumers across Europe.
- A SumUp Pay virtual Mastercard that can be topped up using a saved card or via bank transfer – allowing users to make remote or in-person purchases enabled by Google Pay and Apple Pay, transfers and withdrawals.
- An integrated loyalty scheme focused on supporting local businesses. This lets users collect rewards on every pound spent on their SumUp Pay virtual card, while earning more points for paying at SumUp merchants. Points can then be redeemed at any local business collecting payments with SumUp.
- One-click secure remote payment for SumUp merchants.
- Payment via a SumUp QR Code by easily scanning the code with the app.
New customers are also entitled to receive a £10 points bonus upon successfully completing the sign-up process, to be spent at any SumUp merchant.
According to SumUp Pay, the app is welcomed by the small business community who can make use of the rewards programme as an innovative marketing solution, at no extra cost to their business.
Pedro Branco, head of consumer business at SumUp, comments: “Today is a proud day for everyone at SumUp as we expand our product offering into the B2C space for the very first time. Our all-in-one loyalty e-wallet app not only offers a convenient payment mechanism for consumers to pay bills, purchase goods, or transfer money to their friends, but also rewards them for each penny they spend.
“With SumUp Pay, we hope to create a mutually beneficial ecosystem between local businesses and consumers, by incentivising millions of people to shop locally and providing our merchants with yet another tool to support and help them grow their business.”
Earlier this year, SumUp celebrated its 10th anniversary and bagged new funding, totalling £510million, giving it an enterprise value just shy of £7billion.
It has also expanded into point-of-sale solutions, and with the acquisitions of Goodtill, Tiller and Fivestars, the company is rapidly expanding its footprint within the restaurant and retail sectors.