back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

SumUp to give 1% of revenues back to the planet

By Joy Dumasia

November 19, 2021

  • 1% for the Planet
  • Digital Transformation
  • Environment Friendly
Share

SumUp has announced its decision to join 1% for the Planet and commit 1% of future net revenues to environmental causes such as ​​preventing deforestation, building renewable energy infrastructure, practising regenerative organic agriculture, conserving water, diverting waste, and creating more sustainable materials.

SumUp’s vision is to create a world where small merchants can be successful doing what they love. Over the past ten years, the company has become a leading financial services company, building a global network of over 3.5 million merchants and partners throughout Europe and the Americas.

SumUp is now leveraging its success to play a leading role in protecting our environment. By dedicating a portion of revenue to support environmental causes, SumUp will provide much needed financial support to develop impactful, long-term solutions to improve the world we live in.

SumUp’s announcement comes amid a successful year of innovation, expansion and growth for SumUp. The company recently bolstered its US expansion plans through its $317 million acquisition of Fivestars, which provides loyalty, marketing, payments and other services to thousands of small merchants in the US. The acquisition came after an $895 million debt raise in March of this year.

Marc-Alexander Christ, the Co-Founder of SumUp, said: “It is our duty as individuals and organisations, not only for ourselves but especially for our youth and future generations, to take action. We believe that our mission of serving small merchants includes an obligation to help protect the world they live in. We are grateful we are in a position to be able to pledge a portion of our net revenues to environmental organisations, and we hope it’s only the beginning. Ideally, SumUp’s pledge will inspire other technology companies to increase their efforts to protect the environment we all share.”

Kate Williams, CEO of 1% for the Planet, said: “Currently, only 3% of total philanthropy goes to the environment, and only 5% of that comes from businesses. The Planet needs bigger support than this, and our growing network of business members is doing its valuable part to increase giving and support on-the-ground outcomes. We’re excited to welcome SumUp to our global movement.”

Previous Article

November 19, 2021

Importance of fraud detection: Interview with Madhu Srinivas, Co-Founder & CEO of Difenz

Read More
Next Article

November 19, 2021

Nymbus introduces BaaS for simplified path to new financial growth

Read More










IBSi Daily News Analysis

PSD2, payment, failed

August 16, 2022

1% for the Planet

Despite PSD2 regulation, merchants fail to optimise payments

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

North International Bank partners with Temenos to launch a BaaS platform

Read More

Today

FIS Banking Solutions Group announces John Durrant as President

Read More

Today

YES BANK enables its business enterprise customers to go live on ONDC

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Treasury & Capital Markets Systems Report Q2 2022
Treasury and Capital Markets Systems Report 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022