European mobile point of sale company SumUp has brought its technology across the pond.
SumUp's EMV-compliant mPOS system operates on iOS and Android devices and handles payment processing and risk management. The U.S. is in the process of migrating to EMV-chip cards, which improve security at the point of sale. As of Oct. 1, most U.S. companies that don't have EMV in place face a shift in fraud liability.
"It's a perfect time to bring SumUp to the U.S.," said Daniel Klein, CEO of SumUp, in an Oct. 21 news release. "The shift to EMV chip cards puts more costly fraud liability on stores without chip terminals — but only half of small businesses are even aware of EMV liability ... We are here to help U.S. merchants and partners such as cash register vendors to transition quickly and securely to EMV, by making payments as easy as possible for their customers."
SumUp will sell the EMV contactless card terminal via pre-order on its website for $99 in the U.S. The hardware connects wirelessly to smartphones and tablets and can accept payments via swipe; with electronic and e-wallet payments via NFC, including Apple Pay and Android Pay; and with EMV cards. SumUp accepts all major cards and charges a per-transaction fee of 2.75%.
Launched in 2012, SumUp is now available in 15 countries, including the U.K., Germany and Brazil.