Chip & PIN terminalSumUp, the leading mobile point-of-sale (mPOS) company in Europe and TA Ventures portfolio copmany, goes with the times and does "enable its merchants to accept any kind of payments in a frictionless way".
Today, SumUp announced at Money2020 that it has integrated Bitcoin into its mPOS solution through BitPay, the world’s largest Bitcoin payment processor.
The integration means that any bricks and mortar retailer can now easily accept Bitcoin payments. With SumUp’s streamlined checkout process, the customer simply confirms the amount with a single click on their smartphone after scanning a QR code or using NFC broadcast. For merchants, accepting Bitcoin payments means that issues with fraud concerns or credit card chargebacks are erased from the equation.
Earlier this year, SumUp launched a proprietary Chip & PIN terminal in its major European markets. SumUp’s proprietary technology is the first in the world to cover the whole payments process including the Chip & PIN card terminal, Android and iOS mobile apps, a payment platform with fully certified EMV processing technology, risk and anti-fraud solutions and operations systems.
After successfully having developed an end-to-end payment solution, SumUp is now building an open network by accepting different alternative payment options, such as Bitcoin and soon to follow Apple Pay, and by offering its solution as full SDK. A number of partners across Europe including the leading iPad cash register providers and taxi app operators have implemented SumUp’s solution to offer easy payments to their merchants. The combined solutions see wide adoption by merchants that value an integrated cash register and payment solution.
The agreement with SumUp is BitPay’s first mobile POS integration in Europe, and will play a significant role in helping the company reach its ambitious target of having 1,000,000 merchants taking Bitcoin by the end of 2016.
Daniel Klein, CEO & Founder of SumUp, comments: “SumUp’s mission is to enable our merchants to accept any kind of payments in a frictionless way. We have now taken the next step towards this mission by integration BitPay, the leading Bitcoin payment processor in the world. We are delighted that our merchants can now not only accept all major debit and credit cards but also Bitcoins.”
Tony Gallippi, Co-Founder, Executive Chairman of BitPay, says: “By working with SumUp, BitPay sees Bitcoin payments integrated in thousands of shops across Europe. BitPay aims to make Bitcoin every merchant’s favourite form of payment. We are confident our partnership with SumUp is a step in that direction.”