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September 29, 2015updated 04 Apr 2017 4:01pm

SumUp launches mobile payments service in Sweden

SumUp, a mobile point-of-sale (mPOS) company with financial backing from American Express, Groupon and BBVA Ventures, has introduced its mobile payments service in Sweden.

By Verdict Staff

SumUp, a mobile point-of-sale (mPOS) company with financial backing from American Express, Groupon and BBVA Ventures, has introduced its mobile payments service in Sweden.

The company will offer its proprietary card terminal PIN+ Card Terminal to small businesses in Sweden. Using the platform, merchants in Sweden can accept credit card payments from customers using their smartphones or tablets.

SumUp said that it will charge a fee of 1.9% per transaction.

The firm added that it intends to forge strategic partnerships with big players in Sweden to boost uptake of its product.

SumUp CEO Daniel Klein said: "We are excited to provide Swedish merchants with a simple and easy-to-use card acceptance experience that is so intuitive that even those who have never accepted card payments before can start selling immediately without having to read a manual.

"By offering one fixed percentage fee per transaction with no hidden fees we will also give them the peace of mind to know exactly how much they pay every month, independent from how sales are going. With this package and given our huge success in the rest of Europe, we predict Sweden to be a great market for SumUp."

SumUp, which was launched in August 2012, currently has its presence in 14 countries, including the UK, Germany and Brazil.

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