• Thu. Jul 25th, 2024

SumUp and Ayden Partner to Provide Faster Payouts to SMEs

John Wise

ByJohn Wise

Jul 9, 2024

A strategic partnership between Ayden and SumUp will deliver a superior payment experience and speedy settlements to millions of small and medium enterprises (SMEs) globally.

Thanks to this partnership, SumUp will be able to add to its near-instant settlement services for merchants.  

The Benefits

Millions of micro and small merchants in the United Kingdom and Europe will be able to reap the benefits.

They would be able to have faster access to their funds and would have complete control of their finances.

With its partnership with Ayden, SumUp will be able to expand its offering of accelerated settlements. Therefore, a greater number of users will be able to enjoy same-day settlements round the clock.

As a matter of fact, they will be able to benefit from them 7 days of the week throughout the year. Thus, SMEs will not have to wait for days to get their funds, as they will receive them within minutes.

With this initiative, smaller businesses would be able to access their funds at a faster pace. It would help address critical cash flow needs, as large working capital reserves would no longer be required.

The Platforms

Faster access to funds is a preference of 79% of SME platform users. They have already indicated the need for payouts on the same day.

Payment services are consolidated on the single platform that Ayden offers. It streamlines reporting, pay-ins and payouts in real time, which boosts financial agility and reduces transit times.

As far as SumUp is concerned, it offers an end-to-end platform to small and medium enterprises that comes with financial services and business tools.

Their goal is to create a world where operating a thriving business is possible for everyone. Currently, SumUp’s product offerings comprise of invoicing and online hosting tools.

It also has a free business account, point-of-sale terminals, a card and card terminals and remote as well as in-person payment acceptance.

The Statements

Ayden’s President of EMEA, Alexa von Bismarck, said that the two major players in the payment industry had come together to create a one-of-a-kind partnership.

She said that this would empower SMEs to make settlements at high speeds. It said that small business owners understand the importance of cash flow and they were happy to have partnered with SumUp.

SumUp’s COO and co-founder, Marc-Alexander Christ, also shared his sentiments about the partnership with Ayden.

He said that they had been operating in 36 markets for the last decade and had established the standard for financial technology and card acceptance for merchants.

He asserted that with this partnership, they would be able to deliver the best solutions to merchants for managing different aspects of their business, whether software, payments or financial services.

He added that they were looking forward to expanding their ecosystem of tools and services catering to SMEs.

John Wise

John Wise

John Wise is a seasoned fintech analyst and writer with over a decade of experience in the field. With a Master’s degree in Computer Science from MIT, he specializes in simplifying complex financial technologies for a broad audience. At FinTech Service Reviews, John provides insightful and thorough reviews, helping readers navigate the evolving landscape of financial technology with ease.

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