SumUp introduces direct debits in the UK

Wednesday 22 May 2024 13:44 CET | News

Financial services company SumUp has announced the launch of direct debits, aiming to offer merchants in the UK an improved payment experience. 

As per the information detailed by SumUp, the direct debit capability is available as of the announcement for all UK-based merchants who have a Business Account, a solution that provides merchants with control over their finances. The Business Account can be managed through a smartphone and allows merchants to spend, save, and administer their funds.

Financial services company SumUp has announced the launch of direct debits, aiming to offer merchants in the UK an improved payment experience.

SumUp’s development strategy

The newly added capability reacts to merchant feedback, with surveys revealing that the vast majority of UK adults, nearly 90%, leverage direct debit for a minimum of one regular payment. The current move enables merchants in the region to facilitate their payments by utilising Bacs direct debits via their Business Accounts. Some of the capabilities merchants receive include:
  • Automated recurring payments, including utilities, subscriptions, and memberships, thus minimising the time spent on manual tracking and processing;

  • Reduced administrative difficulties as merchants do not have to manage or chase late payments;

  • Minimised costs by reducing the risk of errors and resources spent;

  • Increased security and compliance, with direct debit payments being safeguarded by the Direct Debit Guarantee that ensures customers get their money back if a payment is made in error.

Furthermore, the announcement supports SumUp’s commitment to upgrading its product suite, assisting its merchants’ needs, and tailoring solutions accordingly. The introduction of direct debits comes as an addition to SumUp’s recent moves meant to advance the company’s objective, including SumUp One, the self-service terminal SumUp Kiosk, delivered Tap to Pay on iPhone and Android, and brought merchant financial support in the form of a cash advance product.

According to SumUp’s officials, the company introduced direct debit as a response to merchant requirements, with the news reflecting its commitment to persistently improving its product suite. The new feature was developed to simplify operations for its UK merchants, enabling them to focus on growth instead of administrative difficulties.

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Keywords: product launch, product upgrade, SEPA Direct Debit, fintech, merchants
Categories: Banking & Fintech
Companies: SumUp
Countries: United Kingdom
This article is part of category

Banking & Fintech


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