Global payments service provider SumUp has launched a business account solution for its merchants in the UK and almost a dozen European markets. 

The business account is expanding its payment terminal, invoicing and card offering by allowing more than 130,000 merchants to get paid directly into a new account on the next day following a sale.

In 2021 SumUp has raised €750 million to fuel international expansion and growth and, more recently, acquired US customer loyalty and SME marketing company Fivestars for over €270m. 

Merchants will consequently be able to transfer funds to suppliers – they can make instant bank transfers in their local currency – to pay rent or use the SumUp Card to pay in-store, online, or withdraw cash from an ATM.

It is also accessible to SMEs either on desktop or via the SumUp smartphone app, where merchants can receive notifications about incoming and outgoing funds. 

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Dimitri Gugunava, VP 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.”