Fintech SumUp says it has launched direct debits for UK merchants. According to a company statement the service is now available for merchants that have a Business Account with SumUp. The SumIUp Business Account is managed via smartphone and enables merchants to spend, save, and manage funds.
SumUp reports that 90% of UK adults use direct debits for regular payments.
SumUp highlights the reduced burden of making payments as well as the cost-effectiveness of the service.
SumUp Global Bank Tribe Product Lead Antoniya Ditsova commented:
“At SumUp, we understand that even small inefficiencies can translate into significant costs for businesses. The introduction of direct debits is a direct response to merchant needs, reflecting our commitment to continually enhancing our product suite. This new feature is designed to simplify operations for our UK merchants, allowing them to focus more on growth and less on administrative chores.”
Founded in 2012, SumUp reports more than 4 million small merchants in 36 markets worldwide.
