Carlos Schaaf, country manager of the company in Chile, points out that "in the last three years we have grown at an annual rate of 100% in sales, and we hope that it will continue like this in the next three to five years."The market for means of payment has taken a definitive leap since the four-part model was launched in 2020. The change meant that card issuers and acquirers stopped working together, opening up a space for competition where different Operators have challenged Transbank, which for years was the only player in the industry.It is in this process that the company of European origin SumUp - which operates in the POS market or machines to process payments with cards in stores - began operations in the country in 2017, first under the umbrella of BancoEstado with Compraquí, and for two years independently.Carlos Schaaf, country manager of the company in Chile, comments that until now the focus has been on smaller companies and individuals with entrepreneurship, but "due to this accelerated growth process, we detected a need for larger businesses", a segment for which have already launched a technological solution and where they hope to continue their expansion.According to the executive, "in the last three years we have grown at an annual rate of 100% in sales, and we expect it to continue like this in the next three to five years."Schaaf details that they increasingly serve natural persons, and with a growing and important demand from SMEs.Currently, 85% of the firm's clients with a POS are natural persons and 15% legal persons, but for the year prior to the pandemic the ratio was 78% natural persons and 22% legal persons.Regarding the expansion last year, says the executive, "the Maule region grew by 133%, Coquimbo by 118%, being the regions that have registered the greatest increases in the number of businesses using SumUp between 2020 and 2021, with data normalized per 10,000 inhabitants.These figures show that there was, and there is, a lot of room for the digitization of means of payment in these and other regions”.In this regard, he points out that in Chile “we estimate that there are 2 million large, medium, small and micro companies, and natural independent workers.Of that total, approximately 1.4 million are micro and independent, 400,000 SMEs and the rest is a segment that is more challenging because they already have a payment solution.Of that 1.4 million micro and independent there are between 10% and 20% with payment solutions, that is the opportunity that lies ahead.From our experience, as it happened in Brazil or Europe, when word starts to spread about a service like this again, you can reach very small businesses that decide to go digital”.But along with seeking to grow in the medium-sized business segment, SumUp also seeks to complement its offer to clients.Schaaf advances that "we realized that our clients also have the need to better manage their money, when a business comes we tell them that they need a bank account to deposit their sales, that is why the CMF has already given us the authorization of existence and we wait by the first quarter of 2023 we will have the authorization to operate a non-bank issuer license and be able to offer a digital bank account to our businesses so that those who do not have an account can digitize themselves”.It was on Tuesday when the Supreme Court decided to reverse the TDLC ruling and rejected Transbank's rate model, leaving the payment industry wondering about the consequences for the sector.That is why Schaaf responds that “we are analyzing the impact that it could have on the ecosystem of means of payment and, above all, on businesses.In any case, as SumUp, we continue to work day after day so that more businesses, of all sizes, have access to electronic payment methods”.Regarding the exchange rates set by the Committee for the Setting of Limits on Exchange Rates, which was created by law in 2021, the executive points out that beyond the controversies, “in the end it depends on what you want to promote, for the current state of the ecosystem in Chile works, the actors have been able to continue doing our job and focus on growing”.Of course, Schaff maintains that the Fintech Law is necessary -currently pending in Congress- because “standardization is necessary and the project contributes to that.Technology allows us to grow and digitize, and it is important that the companies that participate in the chain speak a common language, I think that has happened naturally, but it is positive in the sense of competition, it lowers integration and operating costs.”Please, he logs in to La Tercera to access the comments.Apple will present its new smartphone at a major event that is expected to take place on September 13, although some rumors suggest that it could be earlier.However, as always, some rumors have hinted at what the company's new cell phone would be like, and these indicate that it would be the largest in its history.© 2022 La Tercera, digital innovation.All rights reserved.