London-based payments service provider (PSP) SumUp has obtained its electronic money (e-money) licence from Irish financial watchdog, the Central Bank of Ireland.

SumUp will now process payments and roll out e-money wallets in Ireland, in addition to the UK and Lithuania.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

This adds to its ongoing activities in 26 countries across the European Union (EU).

In Ireland, SumUp’s office is domiciled in Dublin, where the company aims to continue investing. It will become a regulated hub for all its operations across the EU.

Since its inception in 2012, the fintech firm has already offered electronic payments to several independent businesses in the country.

Currently, SumUp’s payment technology solutions are used by more than three million merchants globally.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

SumUp said that it will use the Irish licence to offer its full suite of products to small businesses and help them navigate the challenging market conditions caused by the Covid-19 pandemic.

Some offerings include payment links and invoicing options, the ‘SumUp Online Store’, and gift card collaborations with Google, Facebook and Instagram.

SumUp Ireland CEO Gareth Walsh said: “Securing our licence during this critical time means that we can continue to empower those small businesses and help them succeed despite the challenges presented by the ongoing pandemic.

“Our core products allow our users to take remote and contactless card payments during lockdown situations, and so in a very real way, this licence will ensure Ireland’s entrepreneurs can keep trading and keep recovering.”