SumUp Intros Digital Wallet With Loyalty Rewards as It Ventures Into B2C Space

Mobile point-of-sale (mPOS) company SumUp is venturing into the business-to-consumer (B2C) space with the launch of its first digital wallet and loyalty rewards program.

SumUp Pay provides consumers across Europe with a secure payment method that includes a virtual Mastercard with an integrated loyalty scheme focused on supporting local businesses, according to a press release emailed to PYMNTS on Thursday (Sept. 1).

The new solution is designed to offer an enhanced user experience that makes daily payments seamless, including payments via QR codes and one-click remote payments for SumUp merchants. Consumers can also track their transactions and get an overview of their history all in one place.

See also: SoftPOS Drives EU Merchants’ Adoption of Contactless Payments

This is SumUp’s first move to expand its product suite into the B2C space, SumUp Head of Consumer Business Pedro Branco said in the release.

“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,” he said.

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

After completing the signup process new customers get 10 pounds in points as a rewards bonus that can be used at any SumUp merchant. The small business community also can use the rewards program as a no-cost marketing solution, according to the press release.

Read more: SumUp Raises €590M at Reduced Valuation of €8B

Headquartered in London and co-founded in 2012 by Marc-Alexander Christ and CEO Daniel Klein, SumUp supports more than 4 million merchants in over 35 markets worldwide. The company provides merchants with a free business account and card, an online store, and an invoicing solution. In-person and remote payments are integrated with SumUp’s card terminals and point-of-sale registers.

SumUp has pledged to donate 1% of its revenue to support environmental, educational and entrepreneurial causes, according to the release.

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