Mobile point-of-sale (mPOS) company SumUp has launched a proprietary Chip & PIN device. The device, called PIN+, is initially available in Poland and Switzerland, with a rollout to other European countries including the UK, Italy, Germany and Spain to follow in the next few weeks.
SumUp developed and built the device in less than 18 months, after it was unable to find an existing mPOS Chip & PIN device that met its standards and was suitable for small and medium-sized merchants. Its technology is the first in the world to cover the whole payment process, from the Chip & PIN card terminal and mobile apps to a payment platform with fully certified EMV processing technology and anti-fraud solutions.
Pin+ is compatible with iOS and most major Android devices, and accepts all major debit and credit cards, including Visa, MasterCard and Maestro, at a 1.95 per cent transaction fee.
"SumUp PIN+ is precisely the type of innovation that is needed to bring secure Chip & PIN mPOS technology to the wider public," said Caroline Drolet, head of mPOS at Visa Europe. A device of this kind, specifically tailored to meet the needs of small and medium-sized businesses will enable the convenience of card payments anywhere and we therefore applaud SumUp's initiative."