The Central Bank of Ireland has granted a digital money licence to UK payments business SumUp.
In Brief:
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SumUp offers solutions like card payments to SMEs.
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The ‘emoney’ licence means SumUp can offer services across 26 European countries.
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The Dublin office will become the central regulated location for SumUp’s EU business.
What does this mean?
SumUp’s product supports SMEs, enabling them to take contactless card payments in a low-cost, efficient way. As such, the business says it’sa “critical time” to empower small businesses due to the pandemic as they will help get the economy back on its feet.
