SumUp and Adyen have joined forces to bring faster payouts to small-to-medium sized enterprises (SMEs).
The partnership will help SumUp offer more of its SME clients access to funds within minutes of a sale.
Faster access to funds will help reduce SMEs’ reliance on large working capital reserves and will improve their cash flow.
Payment acceptance company SumUp and payments technology company Adyen have joined forces this week to offer near-instant settlements to more small and micro merchants in Europe and the U.K.
The partnership will help SumUp bring same day settlements to even more of SumUp’s small-to-medium sized enterprise (SME) clients, offering them the access to funds within minutes of a sale. The companies anticipate that the faster access to funds will help reduce SMEs’ reliance on large working capital reserves and will improve their cash flow.
“This partnership is one of a kind as we join forces as major payments players to give SMEs the ability to settle at incredible speeds,” said Adyen President EMEA Alexa von Bismarck. “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.”
Adyen was founded in 2006 and brings end-to-end payment capabilities, data enhancements, and financial products in a single solution. The company, which processed $820 billion (€767.5 billion) in volume in 2022, serves a range of businesses across the globe, including Facebook, Uber, H&M, eBay, and Microsoft.
SumUp’s platform includes many of the business financial management tools and services that small businesses need to manage and run their businesses, including in-person and remote payment acceptance, card terminals, point-of-sale registers, a business account and card, online store hosting, and invoicing tools. Founded in 2012, SumUp serves 4 million merchants in 36 markets.
“Over the last 10 years, we established the de facto market standard for card acceptance and financial technology for merchants in 36 markets,” said SumUp Co-founder and COO Marc-Alexander Christ. “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.”
Photo by Djim Loic on Unsplash
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