Global fintech SumUp has launched 7AM payouts in the UK, a “first-of-its-kind” feature giving merchants near-instant access to their money.
As the UK cost-of-living crisis continues, SumUp aims to provide merchants the ability to get their money faster, to help manage cash flow and keep up with expenses.
Payouts typically take one-to-two business days to land in a merchant’s nominated account once sent, and merchants could choose how often payouts are sent.
Any money earned via SumUp before midnight will be paid into a nominated bank account by 7AM the next day for SumUp One subscribers – inclusive of weekends and public holidays, with no additional fee charged.
SumUp Europe CEO, Michael Schrezenmaier, said: “We have always made it easier for merchants to get paid – and what can simplify business more than releasing funds even faster than before. SumUp merchants work hard for their money and we’re only too happy to have launched this category-leading 7AM payouts for SumUp One subscribers in the UK.”
7AM payouts will initially be exclusive for SumUp One subscribers, seeking to improve business efficiency by combining payment requirements in one ecosystem, for easier reporting and cash management.
Schrezenmaier added: “Faster funds access is crucial for merchants amidst the UK’s cost of living crisis and in regular times, will give merchants more control over their money, aiding cash flow management.”
