Global financial technology company SumUp continues its industry-leading efforts to support small businesses and today unveiled several new product features. Since its founding in 2012, SumUp has delivered a consistent stream of sector-defining products, all launched with SMEs in mind - helping them make a success of doing what they love.

From accepting payments to streamlining the running of a business with point-of-sales systems, and managing their money and cash flow, to increasing customer loyalty and selling more, SumUp is a crucial partner for small businesses across the globe. Creating a tailor-made and comprehensive financial services ecosystem to address the real-world challenges of business owners has always been the central tenet of SumUp’s business. 

“As cost of living and inflation continues to affect businesses of all sizes, we are committed to helping our customers succeed by offering an integrated ecosystem of products that work together to be more than the sum of its parts ”, says Anna Kuriakose, Chief Product Officer at SumUp. “We are proud to be laser-focused on serving our merchants, and the SumUp Beacon event series is about convening them to celebrate their successes as much as it is about showcasing our latest products. It is made possible only because of the close relationship we have with our valued merchants.” 

Under the mantra of "Shining a light on the future of small business", the SumUp Beacon event aims to bring merchants together to inspire each other to greater success, and arm them with industry-leading expert insights as well as the best tools from the SumUp product ecosystem. 

SumUp ecosystem offers everything a small merchant needs today

The Beacon event highlights SumUp’s latest key product developments*, including:

Business Account - Now includes virtual cards

With the free SumUp Business Account, small merchants can easily keep control of their finances — anytime, anywhere. The Business Account now offers a new virtual card, giving users enhanced control over their finances anytime and anywhere. With this update, users can instantly add a virtual Mastercard to their wallet, and manage it seamlessly from within the SumUp App.

Invoices - New design & improved functionality

SumUp Invoices enables users to create compliant invoices and quotes quickly for prompt payments – late payments being a major problem for SMEs (as outlined in a recent op-ed by CEO Europe, Michael Schrezenmaier). With this new update, SumUp Invoices are faster to create and offer an even more efficient workflow to save time in routine tasks.

Kiosk - Offers a completely new self-service sales experience

The SumUp Kiosk revolutionizes self-service sales, potentially saving up to 50% in staffing costs, and provides a customizable and branded experience. It offers advanced layout configurations, specific pricing for takeaway or eat-in, and seamless upselling and cross-selling, thus boosting average basket size by up to 35%.

Online Store - Improved order management, discount codes, and advanced shipping methods

The SumUp Online Store enables merchants to quickly set up a free e-commerce site and start selling online within minutes. Updated features include:

• Enhanced Order Management: Users can efficiently process and review orders within seconds. The system now offers more options for sorting, searching, and provides detailed order analysis - all of which streamlines day-to-day business operations.

• Discount Codes: Merchants can now boost seasonal sales with enticing offers through the creation of discount codes.

• Enhanced shipping methods: To meet all customer preferences, businesses can now offer a range of shipping options. This update saves time and costs by tailoring shipping methods to individual customer needs, ensuring a more personalized and efficient service.

POS Lite - Enhanced features & now available in new markets

Point of Sale (POS) Lite enhances over-the-counter sales, providing a seamless checkout experience. The newly introduced matching Star mPOP™printer and cash drawer rounds off the POS Lite, establishing it as the best-value starter POS system in Europe. Connectivity is made simple, allowing easy connection through the included USB cable or Bluetooth. Designed for convenience, the POS Lite tablet can be easily secured on top of, or next to the checkout counter. 

POS Pro - Improved stock management 

POS Pro is designed to provide enhanced stock management, offering a comprehensive solution for streamlined orders, payments, and reporting. The new feature allows users to conveniently view their inventory right on the checkout screen, minimizing the risk of overselling, a routine problem encountered by successful SMEs.

Tap to Pay - Available across Europe on Android or iPhone

Tap to Pay, now available across Europe, allows users to seamlessly accept contactless payments using only their phones. From cards to digital wallets, SumUp merchants can process various in-person and contactless payments directly through their phones. The service is characterized by fair and transparent pricing, with no binding contracts. Users incur only a small transaction fee for each payment accepted with their phones. Activating Tap to Pay is made easy through the free SumUp App, enabling users to transform their phones into fully certified payment solutions.

Keynote by a leading industry expert at SumUp Beacon event in Berlin

SumUp Beacon - a new offline event series, taking place annually at different SumUp locations - will allow merchants to experience first-hand the value of the latest key product features* from the SumUp ecosystem. SumUp’s ecosystem provides small merchants with the essential tools for their important day-to-day business. 

To kick off the new event series, SumUp is gathering more than 250 merchants, product developers, and selected employees in Berlin to take a look “behind the scenes”, and experience the latest product innovations first-hand, while creating a platform to connect with other small business owners. This year’s keynote presentation is being given by renowned industry speaker Clare Bailey, who will speak on Why a Digital Presence and Social Media Engagement is Critical for Small Business Success. The author and retail expert demonstrate why small businesses, in particular, must look to build a digital presence and social media engagement, presenting practical strategies for navigating the digital world and engaging with potential (and existing) customers. 

*Some of the following products are only available in selected countries. Further information and availability can be found on the country-specific website under: sumup.com