SumUp, the company that empowers merchants to accept debit and credit card payments with their mobile device, has today launched its service in Russia and announced a partnership with Svyaznoy Group, one of Russia's leading retail and financial conglomerates.
Svyaznoy sells 30% of all smartphones in Russia through its retail network of nearly 3,000 stores and Svyaznoy Bank is one of Russia's largest issuing and transacting banks. Russian businesses can now sign up to the service in Svyaznoy stores as well as on SumUp's website and receive native language assistance from SumUp Russia's support team. SumUp Russia's team is based in Moscow.
Svyaznoy will distribute SumUp through its widespread consumer electronics retail network all over Russia. Furthermore, Svyaznoy stores will use SumUp's solution to accept card payments from its customers. Svyaznoy specialises in the sale of phones, digital equipment and portable electronics.
SumUp's service has previously been available in ten European markets. With today's launch in Russia, SumUp solidifies its position as the mobile point-of-sale company of its kind with the world's largest international footprint. In Russia SumUp will be capable of processing all major credit and debit cards, including MasterCard, Visa and soon American Express through the SumUp card reader.
Daniel Klein, CEO of SumUp, commented: "With more than 6 million small businesses and extremely fast growing smartphone usage, we see a real need for an easy and secure solution for card payment acceptance in the Russian market. We are excited to work with the strongest possible partner in Russia right from the start. Svyaznoy is perfectly positioned to enable us to penetrate the Russian market at a fast pace. We very much look forward to bringing the convenience of our technology and the peace-of-mind that comes with processing card payments over our secure network to Russian businesses."
Maxim Nogotkov, president of Svyaznoy, adds: "Offering SumUp's smart and easy-to-use mobile payment solution in our stores is a perfect extension of our business. We chose SumUp as a partner because they have the most advanced technology of any company in the market and they have proven their ability to launch successfully in key European markets and to win thousands of new merchants every week. We are convinced that together we will be able to revolutionise the way merchants take payments all over Russia."
The market entry in Russia follows SumUp's recent award-winning showcase of its consumer app 'SumUp Pay' at Finovate in London.