Adyen and SumUp Partner on Accelerated Settlements in Europe, UK
Adyen and SumUp have partnered to enable accelerated settlements for small businesses in Europe and the United Kingdom.
This partnership expands the availability of SumUp’s near-instant settlements offering that already serves more than 4 million merchants in 36 markets around the world, the companies said in a Thursday (June 30) press release.
“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,” Marc-Alexander Christ, co-founder and chief operating officer at SumUp, said in the release.
SumUp’s platform of business tools and financial services for small and medium-sized businesses (SMBs) includes in-person and remote payment acceptance, card terminals and point-of-sale (POS) registers, a free business account and card, online store hosting and invoicing tools, according to the release.
To provide these offerings to even more customers, SumUp has partnered with Adyen and its financial technology platform for businesses, which consolidates payments services and streamlines pay-ins, reporting and payouts in real time, the release said.
With the combination of the two companies’ capabilities, SumUp will provide its users with access to same-day settlements, seven days a week and 365 days a year, per the release. SMBs will receive their funds in minutes rather than days after a sale, reducing their need for large working capital reserves and addressing their cash flow needs.
“This partnership is one of a kind as we join forces as major payments players to give [SMBs] the ability to settle at incredible speeds,” Alexa von Bismarck, president EMEA at Adyen, said in the release. “Cash flow is of the utmost importance for small business owners, and we are proud of being selected by SumUp as their partner on this mission.”
In some other recently announced partnerships, Adyen teamed up with Cover Genius to increase that company’s authorization rates of online payments in the Americas, Europe and the Asia-Pacific region; with Adobe to enable online and in-store payments for global enterprise merchants that use Adobe Commerce; and with Cleeng to support that company’s expansion into the Middle East and North Africa (MENA) region.
For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.
The post Adyen and SumUp Partner on Accelerated Settlements in Europe, UK appeared first on PYMNTS.com.