Adyen and SumUp enter into partnership to speed up payments

Adyen and SumUp have announced the creation of a partnership aimed at optimizing payments for SMEs. This is important news for the payments ecosystem, as the protagonists are major players in the field, but also for SMEs, who will benefit from greater leeway in managing their finances.

FACTS

• Adyen and SumUp have entered into a strategic partnership to enhance the settlement and payment experience for SumUp's SME customers.
• The aim of this alliance is to offer faster settlement than is currently available to SMEs.
• Indeed, merchants already benefit from a near-instant settlement offer, thanks to SumUp. But the fintech now wants to capitalize on this offer to extend it to SMEs as well, relying also on Adyen's banking services to offer this service.
• After a sale, SMEs will be able to receive payment in a matter of minutes, compared with several days previously. The service is available seven days a week, all year round.

CHALLENGES

• Bringing greater flexibility to professionals: The two newly-partnered players are aware of how important it is for SMEs to have visibility and flexibility over their finances. According to a report published by Adyen, 79% of users of the SME platform attach great importance to faster access to funds. Depending on the context or their financial health, small structures can experience difficulties due to waiting for funds and lack of cash. The aim is therefore to reduce this waiting time by making the sums linked to a sale or payment directly available.
• Strong complementarity: This partnership brings together two particularly important players in the world of fintech. Adyen's unique platform streamlines payments by reducing transit times and providing greater flexibility for its customers. SumUp's end-to-end platform of business tools and financial services for SMEs brings essential products to every business. This alliance enables the two companies to combine their skills and ensure rapid development of new products.

MARKET PERSPECTIVE

• SumUp enjoys strong growth in the acceptance market, with 4 million merchants using its services and 36 markets covered worldwide. The fintech's products have made a major contribution to redefining acceptance standards for merchants and SMEs, by greatly diversifying the payment methods accepted and offered.
• For its part, Adyen continues to partner with major players in the payments ecosystem. Last week, the company unveiled a partnership with Scalapay, with the aim of offering the fintech's solutions to its many customers.