Adyen, the financial technology platform of choice among market leaders, and SumUp, the global leader in financial technology for small businesses, have joined forces in a strategic partnership. The companies will offer the best payment experience and expedited settlement for millions of small businesses around the world.
Thanks to the established cooperation, SumUp will be able to expand its existing offer of almost immediate settlements, offering them to millions of small and micro trading companies in the Eurozone and Great Britain. All this to provide them with faster access to money and full control over their finances.
Faster settlements and withdrawals within minutes
By partnering with Adyen, SumUp will provide access to industry-leading same-day billing, 365 days a year. This means SMEs will receive funds within minutes, not days after the sale. The solution will provide small businesses with faster access to funds, reducing the need for large working capital reserves and meeting critical cash flow needs. As much as 79 percent users of SME platforms attach great importance to faster access to funds and express the need for same-day withdrawals (source: Adyen/BCG – Embedded Finance Report: How platforms are revolutionizing SMB banking, 2022).
The Adyen platform integrates payment services, streamlines settlements, reporting and payouts in real time, shortening transfer times and increasing financial flexibility. SumUp offers an industry-leading, comprehensive platform of business tools and financial services for SMEs. In SumUp's vision of the world, anyone can build a thriving business. The offer includes a product package including in-person and remote services, payment terminals and point-of-sale registers, a free account and company card, online store hosting and invoicing tools.
Serving traders from all over the world
The impetus for SumUp's development was the opportunity to enter new markets while introducing new product and service categories. The company currently serves over 4 million sellers in 36 markets around the world. Adyen and SumUp, based on their experience in Australia, will set a new industry standard for strong and future-proof market expansion.
– Our partnership is unique as we join forces as major players in the payments market to give SMEs the ability to settle at incredible speeds. Cash flow is of the utmost importance to small business owners and we are proud to have been selected by SumUp as their partner, says Alexa von Bismarck, president of Adyen EMEA.
– Over the last 10 years, we have set the de facto market standard for card acceptance and financial technology for merchants in 36 markets. The partnership with Adyen will allow us to cross further boundaries and provide our merchants with the best solutions to manage their business in the field of payments, software and financial services. We are excited about the opportunity to expand our ecosystem of tools and services for small, medium and large enterprises – adds Marc-Alexander Christ, co-founder and COO of SumUp.
