SumUp , a global financial technology company, has launched in Australia aiming to serve the country's business community as it continues its expansion. The company’s introduction to the Australian market is accompanied by the roll-out of its proprietary hardware and software solutions designed for local businesses.

Being a dynamic and fast-growing market, SumUp views Australia, its 36th market, as an important location for its next phase of expansion. The company has also situated a local team, based in Queensland, with a view to grow in the market further. With its small business community and entrepreneurial environment, SumUp states that Australia is a natural fit for its mission of empowering small businesses with accessible and user-friendly business solutions. Australia is also home to about 800 registered fintech companies currently in operation.

This entrepreneurial drive has resulted in 1.5 million registered sole traders, 2.2 million small businesses (365,480 new businesses registered in 2021), and a GDP contribution of 32% of Australia's total. Given the role of these small businesses in the Australian economy, it becomes important for them to have access to financial tools. Therefore, SumUp’s aim is to be a support by offering a varied range of products and features.

SumUp’s products and features to be available in Australia SumUp Air: this card reader is equipped with a long-lasting battery as well as a smartphone connection through the SumUp app, enabling immediate payment acceptance. It also accommodates several credit and debit cards, either through chip and PIN or contactless methods. At the time of launch, the Air device will be available for USD 25.19 and will take a 1.75% fee per transaction (inclusive of GST).   The SumUp ecosystem will support various payment methods, including Eftpos, Visa, Mastercard, Google Pay, and Apple Pay.

In the following year, American Express and JCB will be accepted.   SumUp payment link technology: this allows merchants to accept online payments by sharing a link with their customers for them to pay securely. Additionally, SumUp plans to introduce other tools for invoicing and inventory control in the near future, aiming to help save merchants’ time and money on crucial business functions. About SumUp SumUp is a fintech with the purpose of levelling the playing field for small businesses.

Based in the UK, the company is now the financial partner of merchants in 36 markets across the globe, aimed at helping them start, run, as well as grow their businesses. Through its super app, SumUp provides merchants with a free business account and card, an online store, an invoicing solution, and in-person and remote payments integrated with its card terminals and point-of-sale registers. In March 2023, SumUp announced the launch of its Kiosk product, aimed at improving the way businesses process their orders.

The Kiosk solutions were designed to make the process faster and more secure, with the possibility of saving time and money. Kiosk would enable clients to order, pay, and collect their payments while using a self-order kiosk at quick-service restaurants and retailers. The product will deliver upsides to both users and traders, as customers will receive their orders quicker in a streamlined manner, while the merchants can focus more on other procedures and operations.

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