Adyen, the preferred financial technology platform for leading enterprises, and SumUp, the global leader in financial technology for small merchants, have joined forces in a strategic partnership to provide a best-in-class payments experience and accelerated settlements to millions of small businesses worldwide.
With this partnership, SumUp builds on its existing near-instant settlement offering for SumUp merchants and extends this benefit to millions of small and micro-merchants across Europe and the UK, enabling them to access their money faster and ensure complete control of their finances .
Faster processing and withdrawals within minutes
By expanding expedited settlement in collaboration with Adyen, SumUp will offer even more of its users access to industry-leading same-day settlement, seven days a week, 365 days a year. This means SMEs receive their funds within minutes rather than days of a sale. This initiative provides small businesses with faster access to finance, reduces the need for large working capital reserves and addresses critical cash flow needs. 79% of SMB platform users value faster access to funds and have expressed their demand for same-day payouts (Source: Adyen/BCG – Embedded Finance Report: How platforms are revolutionizing SMB banking, 2022).
The partnership brings together two global fintechs with decades of experience in payments. Adyen’s only platform consolidates payment services, streamlining deposits, reporting and withdrawals in real-time, reducing transit times and increasing financial flexibility. SumUp provides an industry-leading end-to-end platform of business tools and financial services for SMBs with the vision of a world where everyone can build a thriving business. SumUp’s product suite currently offers on-site and remote payment acceptance, point-of-sale card terminals and cash registers, a free business account and card, online store hosting and invoicing tools.
We serve global traders
SumUp’s growth has been driven by its ability to enter new markets while introducing new product categories and services. The company currently serves over 4 million merchants in 36 markets around the world. By working together, Adyen and SumUp will set a new industry standard for resilient and future-proof market expansion, building on the existing successful partnership in Australia.
“This partnership is unique as we join forces as major payments players to give SMEs the ability to process payments at incredible speed,” commented Alexa von Bismarck, President EMEA at Adyen. “Cash flow is of utmost importance to small business owners and we are proud to be selected by SumUp as a partner in this mission.”
“Over the last 10 years, we have established the de facto market standard for card acceptance and financial technology for merchants in 36 markets. This partnership will allow us to continue to push boundaries and continue to offer our merchants the best solutions to manage their business, be it payments, software or financial services. We are excited to expand our ecosystem of tools and services for small, medium and even large merchants,” says Marc-Alexander Christ, co-founder and COO of SumUp.