BBVA invests in SumUp, the European Square

BBVA invests in SumUp, the European Square
BBVA invests in SumUp, the European Square

Large corporations often have difficulty being agile for their own size, both in decision-making, and in the implementation of these. Therefore, in a dynamic and changing as the current, sometimes have difficulty adapting and are major disasters, as in the case of the music industry, the publishing or newspapers. But in spite of that money and resources are a great advantage, which put in the right hands can make a difference.

This has been the case of Telefónica with the signing of Carlos Domingo and everything he is doing and the company revolutionizing the association with Firefox OS, as I said here before. And so it seems that is becoming in BBVA, which BBVA Ventures in San Francisco, has just invested SumUp yesterday. Investment in addition to that already received a couple of months of American Express and Groupon.

SumUp is one of the European rivals card payments system and collections from mobile, through a small device that connects to your phone. The original idea or at least I think it was given before to know and more generally is: Square, Jack Dorsey’s hand one of the founders of Twitter. But despite this, the initiative has not lagged behind and has grown very fast in the old continent, being present as in: United Kingdom, Germany, Ireland, Austria, Netherlands, Italy, France, Portugal, Belgium and Russia, and in November of 2012 came to Spain.

But SumUp not alone in Europe, other rivals like iZettle, an initiative of Swedish origin to just a month ago also received investment of the bank Santander.

Payleven, another alternative of German origin, created by the Samwer brothers controversial from Rocket Internet, tries to take its place with a device, something more bulky.

As Kuapay, the Spanish that comes from the hand of Joaquin Ayuso, one of the founders of Tuenti, with an app that links our credit card with the app and does not require external devices and viewing it from a QR, and closed a round also a year ago.

Not to mention the intentions of PayPal, Google and Apple for mobile payments to dethrone the usual players: American Express, Visa, Mastercard and company.

So it seems that the mobile payments war has only just begun, and at least as users and consumers certainly bring us advantages and comfort the fact that great players begin to enter this sector and encourage its use.

Have you tried any of these? What you think is better? How do you analyze investments outside these major players in the Internet industry?

UPDATE: I add the post I read on Javier Escribano blog. Javi? BBVA you think have read your post and have heeded?



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