SumUp launches a Business Account solution for merchants in the UK
By Joy Dumasia
SumUp announces the launch of a new Business Account solution for SumUp merchants in the UK and almost a dozen European markets. The Business Account from SumUp is central to the evolution of its core package, as it looks to expand its merchant offering. Upon launch, the solution will enable over 130,000 merchants to get paid into their business accounts.
With SumUp Business Account, UK-based merchants will now be able to combine a SumUp issued account number and sort code with other SumUp services to streamline their business operations in a way that reduces the reliance on a high street bank. SumUp merchants can now direct money from their sales to the SumUp Business Account the next day, even on weekends or public holidays, helping to improve liquidity flow and providing more immediate access to funds.
The SumUp Business Account is also easily accessible to busy SMEs, either on desktop or on the go with a smartphone via the SumUp App, where merchants can receive notifications about incoming and outgoing funds – all while benefiting from SumUp’s efficient and effective customer support. The SumUp Business Account is yet another product that SumUp adds to its growing product suite to give small businesses a complete toolkit for running their business.
Dimitri Gugunava, VP of Banking at SumUp, said: “The SumUp Business Account is the latest solution that we’ve brought forward to help our UK-based merchants improve the daily running of their businesses. We are proud to be able to provide our British merchants with new ways of managing their funds, and the SumUp Business Account will offer a seamless experience to merchants with fast-paced operations managing their businesses on the go.”
IBS Intelligence recently reported that SumUp, a global leader in digital payments based in London, announced a new CEO, Europe, Michael Schrezenmaier. Schrezenmaier brings a founder’s mentality and a hands-on attitude and is a perfect cultural fit for the company, which is notably diverse in respect of markets served and its employees.
IBSi Daily News Analysis
September 22, 2023
Banks can capitalize on new dynamics in a changing industry, study showsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage