SumUp acquires a major partner by signing with PrestaShop

The British FinTech SumUp, which specialises in mobile payment for small professionals, has diversified over time to become a key player in online payment. Today, it has gained a new partner capable of consolidating its position, PrestaShop. This commercial partnership demonstrates once again the opportunities for association between players in physical commerce and online commerce. A reality that is underlined by the exceptional growth rates of the e-commerce market at the beginning of 2022.

FACTS

• The partners are jointly launching a payment module allowing hundreds of thousands of European merchants operating on the PrestaShop platform to access the SumUp toolkit.

• The offer is based on the following promises

  • a trustworthy user interface with an attractive design

  • Fast and transparent registration,

  • easy configuration,

  • no hidden fees,

  • secure and reliable payments,

  • reduced chargeback rates thanks to 3D-Secure.

• For merchants operating on PrestaShop but also in the physical world, and who already had a SumUp account, a direct connection to their SumUp account from their PrestaShop platform is possible.

ISSUES

• A turnkey solution for merchants: Merchants operating on PrestaShop now have a complete turnkey solution for accepting payments, both online and in the physical world. PrestaShop's new SumUp payment module also synchronises all of their payment data and transaction history.

• Cross-development opportunities: through this partnership, SumUp is further expanding into the e-commerce segment, which was not its original market and will benefit from PrestaShop's experience. For its part, PrestaShop expands its offer to SMEs and other small professionals, with, among other things, solutions for payment in the physical world, but also an account, a business card and other invoicing solutions.

MARKET PERSPECTIVE

• The enrichment of SumUp's e-commerce offerings represents an important strategic axis for the British FinTech. Already, last October, SumUp reinforced its E-shop service. As a reminder, SumUp E-shop offers a simplified solution for the creation of online shops integrating a payment tool.

• Today, the FinTech has chosen to partner with a giant in the online shop creation market that has already reached a critical size. It is therefore multiplying its initiatives to strengthen its e-commerce offer.

KEY FIGURES

• SumUp

• 3.5 million merchant customers

• more than 30 markets covered

• PrestaShop

• 300,000 sites already using its software