SumUp and Mastercard to enable vehicle payment solutions for European small businessesNovember 25, 2020 | Brussels, Belgium | Berlin, Germany
SumUp and Mastercard are enabling payment acceptance solutions for Ford commercial vehicles, thus empowering small business owners to accept rapid and secure payments directly from their vehicles.
Today, SumUp and Mastercard are announcing their new payment services tailored for Ford commercial vehicles in Germany, France, Italy, Spain and the United Kingdom. With this new solution, small business owners that typically use commercial vehicles – including food trucks, beverage suppliers, mobile florists and other tradespeople – can accept card payments directly from their vehicles.
One of the main advantages of this solution is that it gives entrepreneurs the ability to accept payments from their customers immediately, rather than waiting for an invoice to be paid at a later date. This in turn can help them manage their cash flow more optimally, particularly in cases when they need to receive a deposit to buy the materials to start the job or pay their subcontractors.
Another benefit is that it gives these small businesses more choice by enabling them to accept card payments – including contactless – as opposed to cash only. Similarly, customers can have the option to pay by debit or credit card – either contactless or by chip and pin. Providing more payment choices is particularly important at a time when customers and businesses alike opt for rapid, safe and hygienic solutions such as contactless payments.
“The cooperation with Mastercard and Ford completely fits with our corporate philosophy,” said Alexander von Schirmeister, Executive Vice President Europe at SumUp. “Our ambition has always been to support small businesses in their daily work and make it easier for them to get paid doing what they love. The new Marketplace feature within the FordPass Pro app embodies this approach and we are pleased to be a part of it with our payment technology and wide range of services,” he adds.
Jason Lane, Executive Vice President, Market Development Europe, Mastercard noted: “Now more than ever, small businesses are an indispensable part of our economy, and a crucial part of our recovery moving forward. Providing them more options on how they want to make and receive payments can help them manage their cash flows and ultimately improve their bottom lines. To that end, we are delighted to be the partner of choice of SumUp and Ford in delivering innovative payment solutions that support European small business owners.”
Mark Harvey, Director, Enterprise Connectivity at Ford of Europe comments: “From couriers putting in the miles to tradespeople putting in the hours, we recognise that for hard-working small businesses small savings can add up to make a big difference,” said Mark Harvey, director, Enterprise Vehicle Connectivity, Ford of Europe. “FordPass Pro, with unique cost- and time-saving offers from the likes of SumUp and Mastercard, is another example of how we are able to use our scale and buying power to help small businesses to thrive.”
About SumUp (www.sumup.co.uk)
SumUp is a financial technology company that allows businesses of all sizes to receive payments quickly and simply, both in-store and online. Named as Europe’s fastest-growing company in the ‘Inc. 5000’, SumUp has over 7,000 companies joining the platform every day. With its card terminals relied upon by over three million businesses globally, from hairdressers to artists, from restaurants to taxis, SumUp surpassed an annual revenue of €200 million in 2019. SumUp’s 100% digital sign-up, fast delivery, and quick and easy set-up means that merchants can be empowered by digital transactions within just minutes from receiving their card terminal.
About Ford of Europe
Ford of Europe is responsible for producing, selling and servicing Ford brand vehicles in 50 individual markets and employs approximately 45,000 employees at its wholly owned facilities and consolidated joint ventures and approximately 58,000 people when unconsolidated businesses are included. In addition to Ford Motor Credit Company, Ford Europe operations include Ford Customer Service Division and 18 manufacturing facilities (12 wholly owned facilities and six unconsolidated joint venture facilities). The first Ford cars were shipped to Europe in 1903 – the same year Ford Motor Company was founded. European production started in 1911.
Find out more about the FordPass Pro app for connected commercial vehicles here.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.