Germany’s Sumup is launching its mobile point-of-sale service in Brazil, the latest European firm to either take the plunge or talk up the region’s attractions.

Sumup will allow small businesses across the country to accept all major credit cards with their smartphone or tablet using the firm’s card reader.

Brazil has more than 22 million small- and medium-sized enterprises and microbusinesses with thousands of new ones launching all the time, said Sumup.

However, it is not the only company to be drawn to the attractions of the South American market. Rivals iZettle, Payleven and Powa have all either launched or stated their intention to do so in recent months. The latter two are particularly interested in the Brazilian market.

In addition, indigenous start-ups such as Clip in Mexico are entering the market. This is Sumup’s first foray into South American.

The firm will sell its card reader for BRL79 ($34) with no monthly costs or subscription fees. It will charge a processing fee per transaction which starts at 3.7 per cent. The firm said this is “one of the lowest fees in the Brazilian market”.

“The demand we experienced during our recently completed beta phase was tremendous: within one hour of going live, hundreds of merchants had signed up to accept payments via Sumup in Brazil,” said co-founder Jan Deepen (pictured).