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.”
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