SumUp and Adyen established a strategic partnership to provide small and micro merchants in Europe and the UK with faster access to their money and full control over their finances.
The two partners have joined forces to offer a “best-in-class payment experience and accelerated settlements for millions of small businesses worldwide.”
The partnership will enhance SumUp’s existing near-instant settlements offering for merchants. The fintech firm focuses on the small, micro and nano enterprises which are often neglected by banks and traditional providers. Its offerings include various card readers and multiple remote payment solutions such as Invoices, Gift Cards, Payment Links, and more.
Expanding accessibility of accelerated settlements in cooperation with Adyen enables SumUp to provide even more of its users with access to same-day settlements 365 days a year.
According to Adyen’s study, 79% of SME platform users highly value faster access to funds, which creates demand for same-day payouts. Same-day settlements give SMEs faster access to funds, reduce the need for large working capital reserves, and address critical cash flow needs.
SumUp currently serves over 4 million merchants in 36 markets worldwide. It previously established a successful partnership with Adyen for the Australian market. As the firm aims to expand its offering, it decided to team up with Adyen on a larger scale.
“Over the last 10 years, we established the de facto market standard for card acceptance and financial technology for merchants in 36 markets. This partnership will allow us to keep pushing boundaries and continue providing our merchants with the best solutions to manage their business, be it payments, software or financial services. We are excited to amplify our ecosystem of tools and services for small, medium and even enterprise merchants.”
Marc-Alexander Christ, Co-Founder and COO at SumUp
Along with the Adyen partnership, SumUp introduced a SumUp One membership plan for merchants to save money on products they use and transaction fees, avail unlimited invoicing and exclusive deals.
