Published: Wednesday March 18, 2015
London, 18 March, 2015 – GBG, the global leader in identity intelligence, has today announced its collaboration with SumUp, with the primary goal to help drive the global expansion plans of the mobile point of sale (mPOS) company.
SumUp, the European leader in the mPOS space, allows small and medium sized merchants to process payments in a secure and cost-effective way. It is aimed at those who do not currently use card terminals or point of sales systems, such as cafes, shop owners or taxi drivers. SumUp’s platform allows merchants to accept credit or debit card payments using a smartphone or tablet – replacing the need for expensive point of sales systems and cash only transactions that can be inconvenient to customers.
SumUp has been using GBG’s award-winning ID Verification solution, ID3global, since July to onboard new merchants and verify their identity efficiently, and in record time. SumUp operates in 14 countries across Europe and Latin America and is the only company of its kind to provide proprietary end-to-end terminal hardware, mobile applications and anti-fraud operating systems.
GBG allows SumUp to reduce the stress and time involved in the onboarding process which can be a lengthy and administration-heavy process, subjected to local laws and regulations. GBG’s fully automated service means new merchants can be verified in less than a second – faster than the industry average – giving them true reach across global markets without the need for another service partner.
“Agility, and being quick to react to customer needs, is crucial to our global expansion. Historically, authorisation has often proved to be a lengthy bottle-neck involving lots of paperwork, meaning potential customers may go elsewhere. GBG changed all this and took all the pain out of the process. As a result we’ve onboarded a higher percentage of merchants compared to our incumbent supplier,” said Sibylle Jost, VP Product Marketing & Communication at SumUp.
“We’re confident that GBG will play a central role in our global growth, ensuring we accept more customers quicker than our competition, whilst providing a complete integration of compliant services across the markets in which we, and they, operate.”
Glenn Porter, General Manager EIDV International at GBG comments, “We’re really proud to be working with SumUp. They’re providing merchants with the opportunity to play on a bigger stage than perhaps they even thought possible, and this will only increase as they expand into new markets. Our identity verification software can validate the identity of more than four billion customers across the globe. Our Matchcode and DecTech solutions also provide international data capture, validation and real-time credit checking whilst detecting and preventing transactional fraud. There are now no boundaries, financial or geographical, for small business growth.”
SumUp is the leading mobile point-of-sale (mPOS) company in Europe and is set to revolutionise the global payments market.
The company is authorised as a Payment Institution by the Financial Conduct Authority (FCA) and is EMV and PCI-DSS certified, ensuring that payments are processed in accordance with the highest security standards.
With SumUp, merchants can accept credit and debit cards, using their smartphones or tablets, in a simple, secure and cost-effective way. SumUp's mobile card acceptance solution is built on proprietary end-to-end Europay, MasterCard, and Visa EMV payment gateway technology, terminal hardware and mobile applications.
Launched in August 2012, SumUp has expanded into 14 countries, including the UK, Germany, Russia and Brazil. It has a team of over 140 people from 20 countries. The company has major offices in London, Berlin, Sofia, Moscow, and São Paulo.
SumUp is backed by American Express, BBVA Ventures, Groupon and other renowned venture capital investors.