SumUp and Mastercard roll out new payment solution for Ford in Europe
By Megha Bhattacharya
SumUp and Mastercard have teamed up to announce a new payment service customised for Ford commercial vehicles in Germany, Italy, France, Spain and the United Kingdom. The new solution will allow small business owners with commercial vehicles to accept card payments directly from their vehicles. The companies stated that the solution provides entrepreneurs with the ability to accept payments from their customers immediately, rather than waiting for an invoice to be paid at a later date.
“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 a wide range of services,” he added.
The payment solution will offer small businesses with more choice with the enablement of card payments including contactless, as opposed to cash only. Customers have the option to pay by debit or credit card – either contactless or by chip and pin.
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.”
Recently, SumUp obtained an e-money licence from the Central Bank of Ireland, meaning the FinTech will be able to process payments and issue wallets across Europe through an Irish licence. The licence means small businesses in Ireland will get access to SumUp’s products, which includes Covid-specific tools to navigate operating restrictions – but it also allows for European expansion.
Mark Harvey, Director, Enterprise Connectivity at Ford of Europe commented, “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.”
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December 06, 2022