Following this announcement, SumUp and Adyen are expected to provide optimised, secure, and efficient payment experiences for small and medium-sized enterprises (SMEs) across the globe. SumUp will also expand its offerings in order to ensure that its merchants benefit from fast access to their money through Adyen’s banking solutions.
In addition, both companies will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
Adyen represents a financial technology platform that provides end-to-end payment capabilities, data-driven insights, as well as financial products incorporated in a single global service, with the aim to accelerate the development of its partners and clients. SumUp is a global financial technology company that focuses on leveling the landscape for businesses of all sizes.
According to the official press release, the partnership is expected to provide merchants and clients with an improved experience, as well as an accelerated settlement for millions of small businesses and companies around the world. SumUp will also build on its already existing near-instant settlements offering for SumUp traders, as well as scaling the benefits for several small and micro merchants in the region of Europe and the UK. This process is expected to provide them with faster access to their money, as well as ensure full control over their finances.
Small businesses will also be given the possibility to access funds faster, which will reduce the need for large working capital reserves and address the critical cash flow needs. At the same time, Adyen’s single platform will consolidate payment services, and streamline payins, reports, and payouts in real-time, while also reducing transit times and optimising financial agility. Furthermore, SumUp will continue to provide its end-to-end platform of business tools and financial solutions for SMEs, as its product suite also delivers in-person and remote payment acceptance, card terminals, and point-of-sale registers, as well as online store hosting, invoicing tools, and free businesses account and card.
In addition, the collaboration will allow the companies to further develop and provide merchants and businesses with improved, secure, and efficient solutions to manage their businesses, whether it's payments, software, or financial services.
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