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SumUp and Mastercard to enable vehicle payment solutions for European small businesses

SumUp and Mastercard to enable vehicle payment solutions for European small businesses | Fintech Finance

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.”

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