Payments FinTech SumUp has acquired loyalty, marketing and payments business Fivestars.
In Brief:
SumUp offers point of sale equipment for merchants and small businesses.
Fivestars offers loyalty, marketing and payments services to around 12,000 smaller businesses in the US.
SumUp is said to be paying $317mn in cash and stock.
What does this mean?
Adding Fivestars’ offerings will enable SumUp to add loyalty offerings to its platform, which will be vital for small businesses to retain customers in a cheaper, easier way than building these services from the ground up.
