Verizon Business offers SumUp payments gear to SMBs

Verizon Business has become the first U.S. telecom operator to offer the SumUp Plus Card Reader, the basis for the London fintech firms merchant payments network, to its own new and existing small and midsize business customers.

The news comes less than a month after SumUp, which now supports more than four million merchants globally, announced it had raised a whopping €590 million ($624 million) in its latest funding round. The company is 10 years old, and recently has started branching into supporting other small business services through efforts like its 2021 acquisition of the U.S.-based small business loyalty platform firm Fivestars.

The Verizon Business allows smaller merchants to use SumUp’s proprietary card terminals and mobile point-of-sale app. They can purchase the SumUp Plus Card Reader directly in-store or online through their Verizon Business account for a one-time cost of $19.99 plus tax. Upon activation, they will be able to accept payments through a Bluetooth connection paired with any Verizon smartphone or tablet, with a flat 2.75% per in-person transaction fee.

“For our business customers, digital transformation ranges from how they collaborate with employees to how they transact with their customers,” said Wendy Taccetta, Senior Vice President for Nationwide Small Business, Verizon Business. “Through this partnership with SumUp, we’re helping make transactions seamless for merchants of all sizes and are thrilled to be their first American carrier.”

Verizon Business described SumUp as the latest in a list of capabilities it offers small business merchants, with others including 5G Business Internet solution, the cloud-based One Talk phone system, and BlueJeans for virtual collaboration. 

Verizon’s has been selling Square card readers to business customers for several years.