Starling Bank Partners with SumUp
Digital banking platform Starling Bank has partnered with Europe’s mobile point of sale company SumUp to provide small merchants with access to faster settlements.
While SumUp enable merchants to accept card payments in seconds with just an easy-to-use device in hand, traditional banking providers and existing card rails means the process of settlement for small businesses currently requires a waiting time of two to four days for payments to clear through. By using Starling Banking Services, SumUp can now ensure their UK merchants will soon receive payments on the next business day and do not need to wait days to see the money their customers have paid them for their products and services.
Starling’s Banking Services does this by allowing SumUp’s merchants to benefit from: Real-time access to faster payments; Simple integration with Starling’s secure and PSD2-compliant APIs; and Full bank grade accounts with a set of unique virtual accounts.
“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. 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.” – Helen Bierton, Head of Banking at Starling Bank.
“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.” – Dimitri Gugunava, VP Banking and Acquiring at SumUp.