Starling Bank has teamed up with mobile point of sale company SumUp to provide small merchants with access to faster settlements.
SumUp — which has card terminals that are relied upon by over 1.5 million users globally — helps small businesses by delivering access to affordable and easy-to-use payment devices.
Through the partnership, the specialist bank will be able to provide SumUp with access to payment schemes as well as a full bank offering through an API.
“Small businesses are the lifeblood of an innovative and entrepreneurial ecosystem, so making sure they can receive the rewards of their hard work is incredibly important,” said Helen Bierton, head of banking at Starling Bank.
“Our partnership with SumUp means that whether a small merchant is serving coffee or cutting hair, we are helping to ensure they get paid as quickly as possible so they can get on with growing their businesses.”
Dimitri Gugunava, vice-president of banking and acquiring at SumUp, added: “We always look for new ways to improve the services we offer our 1.5 million merchants worldwide on a journey of empowering them to succeed while doing what they love.
“Quicker payouts is an important step which we were able to take through our partnership with Starling Bank.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
OneSavings Bank reports 15% loan book growth
OneSavings Bank (OSB) has announced that it achieved loan book growth of 15% in the nine months to 30th September 2019...
Hodge Bank appoints two new directors to its board
Hodge Bank has appointed Graeme Hughes (pictured above) as senior independent director of Julian Hodge Bank and Hodge Life Assurance Company and David Gulland to the board of Hodge Life Assurance Company...
Banking customers to take more control of personal data
Banking customers are expected to take much more control of their own personal data in the future through digital ID profiles, according to a new report...
OakNorth Bank launches range of joint savings accounts
OakNorth Bank has launched a new range of joint savings accounts...
The relevance of cards in a digital world
Physical cards are not only relevant for program users, but also for the banks...
Revolut names new non-executive chairman of the board
Revolut has named Martin Gilbert (pictured above) as its non-executive chairman of the board...
Secure Trust Bank Commercial Finance exceeds £4bn in lending
Secure Trust Bank Commercial Finance has now surpassed £4bn in total lending since launching in 2014...
Charity Bank provides 1,000th loan
Charity Bank has reached a lending milestone by issuing its 1,000th loan...
Wesleyan Bank launches cash flow product for renewable sector
Wesleyan Bank has launched a bespoke cash flow product for the renewable heat sector...
Al Rayan Bank extends BTL range
Al Rayan Bank has extended its BTL range and is now offering landlords 80% finance-to-value (FTV) for its BTL purchase plan (BTLPP) products...
The ongoing digital revolution is re-writing the communications manual
The evolution of new communications technologies is redefining the customer experience in the specialist banking market, with customers having higher expectations in regard to how, when and where they want to be communicated with...