UK-based financial technology firm SumUp has launched a new digital wallet app, dubbed SumUp Pay, with an integrated loyalty scheme.

The launch marks the mobile point-of-sale (mPOS) company’s foray into the business-to-consumer (B2C) space of Europe.

The new digital wallet app, according to the company, will provide a secure payment process for consumers across the Europe.

SumUp Pay includes a virtual Mastercard that can be recharged using a saved card or through bank transfer.

It will enable users to make remote or in-person purchases through Google Pay and Apple Pay, transfers as well as withdrawals.

The app will also offer an integrated loyalty scheme, which is focused on supporting the local businesses.

Users will also earn points on all the transactions made using SumUp Pay and they can be redeemed at any local businesses which are collecting payments with SumUp, the company noted.

Other features of the new app include one-click secure remote payment for SumUp merchants as well as SumUp QR code-based payments by scanning the code using the app.

Additionally, SumUp Pay allows users to easily send and request money from friends.

SumUp head of consumer business Pedro Branco said: “Our all-in-one loyalty e-wallet app not only offers a convenient payment mechanism for consumers to pay bills, purchase goods, or transfer money to their friends but also rewards them for each penny they spend.

“With SumUp Pay, we hope to create a mutually beneficial ecosystem between local businesses and consumers, by incentivising millions of people to shop locally and providing our merchants with yet another tool to support and help them grow their business.”