The Central Bank of Ireland has granted a digital money licence to UK payments business SumUp.
In Brief:
SumUp offers solutions like card payments to SMEs.
The ‘emoney’ licence means SumUp can offer services across 26 European countries.
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.
