Fast Payouts for SMEs: SumUp and Adyen’s New Collaboration
SumUp, a global leader in financial technology for small merchants, and Adyen, a renowned financial technology platform, have announced a strategic partnership to revolutionise the payment experience for small and medium-sized enterprises (SMEs) globally. This collaboration is set to provide SMEs with faster access to their funds, significantly enhancing their financial agility and addressing critical cash flow needs.
Accelerated Settlements and Payouts
The partnership focuses on expanding SumUp’s near-instant settlements offering to millions of small and micro merchants across Europe and the UK. By leveraging Adyen’s robust banking services, SumUp will provide industry-leading same-day settlements, available seven days a week, 365 days a year. SMEs will receive their funds within minutes rather than days after a sale, reducing the necessity for large working capital reserves.
Research indicates that 79% of SME platform users highly value faster access to funds and demand same-day payouts. The partnership addresses this need by offering streamlined real-time pay-ins, reporting, and payouts through Adyen’s single platform, thus enhancing SMEs’ financial agility.
Quotes from Industry Leaders
Alexa von Bismarck, President of EMEA at Adyen, emphasised the significance of the partnership, stating, “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. Cash flow is of the utmost importance for small business owners, and we are proud to have been selected by SumUp as their partner on this mission.”
Marc-Alexander Christ, Co-Founder and COO at SumUp, highlighted the impact of the collaboration on their market presence: “Over the last ten 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.”
SumUp’s Growth and Product Offerings
SumUp’s growth trajectory has been fuelled by its ability to enter new markets and launch innovative product categories and services. Serving over 4 million merchants in 36 markets worldwide, SumUp’s product suite includes in-person and remote payment acceptance, card terminals, point-of-sale registers, a free business account and card, online store hosting, and invoicing tools. This comprehensive platform equips SMEs with the tools to thrive in a competitive market.
Adyen’s Role in the Partnership
Adyen’s financial technology platform consolidates payment services, providing end-to-end capabilities, data-driven insights, and financial products in a single global solution. This integration streamlines businesses’ financial processes, reducing transit times and enhancing financial management.
By joining forces, SumUp and Adyen aim to set a new industry standard for resilient and future-proof market expansion. The partnership enhances SMEs’ financial capabilities and ensures compliance with regulatory requirements and industry laws. Both companies remain committed to meeting their clients’ and customers’ evolving needs and preferences.
Conclusion
In conclusion, the partnership between SumUp and Adyen promises accelerated settlements and same-day payouts, revolutionising financial agility for SMEs globally. This collaboration sets a new standard in payment technology, addressing critical cash flow needs and demonstrating a commitment to innovation in financial services. Together, they aim to empower small merchants to thrive in today’s competitive market landscape.
