SumUp lands e-money licence from the Central Bank of Ireland

Global payments service provider SumUp has continued its growth after it received a new e-money licence from the Central Bank of Ireland, the country’s financial services regulator.

Alongside existing licences in Lithuania and the UK, SumUp will now process payments and issue e-money wallets via the Irish licence, for its ongoing activities in 26 countries across Europe.

Gareth Walsh, CEO Ireland at SumUp, commented: “Small businesses are the cornerstone of a healthy economy. Securing our licence during this critical time means that we can continue to empower those small businesses and help them succeed despite the challenges presented by the ongoing pandemic.

“Our core products allow our users to take remote and contactless card payments during lockdown situations, and so in a very real way, this licence will ensure Ireland’s entrepreneurs can keep trading and keep recovering.”

The news builds on SumUp’s footprint in Ireland, which has been active since 2012, having already helped hundreds of thousands of independent businesses in the country take electronic payments in that time, from food trucks to taxi drivers, while the increasing demand for the company’s easy-to-use payments technology has seen the number of merchants using SumUp’s solutions rise to over three million globally. 

The new licence enables Ireland’s small businesses to benefit from SumUp’s full range of products, including a host of new solutions and innovations which were launched earlier this year to help businesses navigate the operating restrictions brought about by the COVID-19 pandemic.