SumUp launches new suite of POS solutions

SumUp, the fintech specialising in payment acceptance for small merchants, is launching a new range of point-of-sale payment solutions called POS Lite.

FACTS

• The new suite of instruments is being launched simultaneously in the UK, Ireland, France, Germany and Spain

• With the new Lite offering, the company now offers an entry-level cash register ideal for smaller retailers

• The Lite cash register is a turnkey cash register that will enable smaller retailers and micro-businesses to manage payments with ease through a range of key features:

  • processing of card and cash payments,

  • organisation of the item catalogue,

  • tracking of receipts,...

• The solution is delivered with the free SumUp software pre-installed, and is available without subscription or commitment at a single price of €199.

• In addition, merchants can access the entire SumUp ecosystem and a variety of products: electronic invoices, online shop or business bank account.

• In parallel, SumUp is also unveiling a new version of its Pro cash register that offers advanced analytics, inventory management and reporting capabilities that enable merchants to make more informed strategic decisions, and continue to grow, in a complex economic environment.

CHALLENGES

• To become a leader in its market: SumUp, originally positioned on mobile acceptance, has come a long way since then and deployed a range of products and services dedicated to small merchants. SumUp is already on track to become the European leader in cash register solutions by the end of the year, and the launch of these new products should enable it to strengthen its position.

• Responding to the rising costs of the crisis: In recent months, small businesses have been hit hardest by rising fuel costs, soaring inflation and increased corporate tax rates.

MARKET PERSPECTIVE

• Founded in 2012, SumUp is the trusted financial partner to over 4 million businesses in more than 35 markets worldwide.

• Through its 'Super App', SumUp offers merchants a free business account and card, an online shop, invoicing tools, as well as physical and remote payment solutions that are fully integrated with SumUp's card terminals and cash registers.

• The crisis, which primarily affects the most fragile merchants, is giving rise to numerous initiatives. In addition to new offers, more direct assistance is coming from banking players such as Banca Intesasanpolo in Italy, which is proposing to eliminate commissions linked to the acceptance of low-value payments in order to relieve these same merchants.