Global financial technology company SumUp today announced its merchant business account ecosystem has achieved two major milestones: surpassing €1 billion in customer deposits and growing to 1.5 million active Business Account users globally. The rapid adoption comes as SumUp rolls out a suite of new features, including cash deposits and local IBANs, deepening its role as the primary financial partner for Europe's small businesses.

Continuing to expand its offering, this marks another pivotal step in SumUp’s mission to deliver a full-service financial ecosystem. By combining seamless payment acceptance with sophisticated banking and lending tools, SumUp is becoming the single, integrated platform where merchants can start, run, and grow their businesses with confidence.

SumUp Chief Commercial Officer, Luke Griffiths comments: “These milestones are more than numbers; they represent the foundation for SumUp’s next chapter. As we deepen our banking infrastructure with localised services and advanced features, we are strategically moving closer to becoming a fully-fledged financial institution for Europe's merchants. Our goal is not just to serve small businesses, but to grow with them, providing a trusted, end-to-end financial experience that supports every stage of their journey.”

Expanding Business Account Capabilities Across Europe

SumUp is launching Cash Deposits for merchants in the UK, Italy, Spain, and France starting December 2025. In addition, SumUp will enable Business Account customers to top up their balance with cash in just minutes. Traditionally a service only offered by high street banks, cash deposits give cash-reliant businesses faster, easier access to their working capital - with the flexibility to deposit their earnings at thousands of partner retailers. 

Local IBANs (international bank account numbers) will also be introduced in Italy in early 2026, marking a pivotal step in SumUp’s drive to localise its banking infrastructure. For years, Italian merchants using non-local accounts with a foreign IBAN have faced unnecessary friction when receiving payments or working with local partners - despite SEPA rules mandating equal treatment. This launch will allow Italian merchants to use SumUp as their primary business account, ensuring smoother payments, wider acceptance, and greater trust among clients, accountants, and tax authorities. Italy will serve as a blueprint for future local IBAN launches in other European markets.

Acting as the foundation to these new features, SumUp’s core proposition remains centred on giving merchants faster payouts, a free business account, and instant access to their funds. By introducing Cash Deposit and local IBANs, SumUp has substantially expanded the number of merchants that can benefit from its Business Account offering, removing previous friction points for cash-heavy merchants and those affected by the so-called IBAN discrimination.

SumUp SVP Global Banking, Felix Lamouroux comments: “We started giving merchants superfast access to their earnings with a simple card in 2019. Since then, we have added features banks usually charge for: a free Mastercard, unlimited free instant transfers and no monthly fees, making our offering the best value for money in the market. Every feature we build removes a point of friction for our merchants. We are now going beyond this by enabling businesses to deposit their cash earnings instantly. More IBANs in more European markets will enable entrepreneurs to do more business through our free accounts. We are focused on making business ownership easier. The incredible adoption of our banking services shows that this approach is working.”

Supporting Merchants As They Grow

To support merchants as their needs evolve, SumUp also introduced Business Account Plus, a premium tier account designed for larger businesses. The upgraded account offers features such as multiple cards, bulk transfers and enhanced financial controls, giving merchants greater flexibility and simplicity in managing complex business operations.

Further bolstering its support for businesses of all sizes, SumUp has now issued over 250,000 SMEs funding through Merchant Cash Advances (MCAs). With more than 1 million MCA offers made to individual merchants through SumUp’s system to date, SumUp continues to provide crucial, flexible financing to traditionally underserved merchants.