Santander UK will roll out a new e-commerce checkout tool later this year following its partnership with Worldpay announced today (June 9).
Santander Business Banking and Corporate and Commercial Banking (CCB) customers will be able to access Worldpay services by leveraging advanced digital technology to offer its customers new merchant payment solutions.
The e-commerce payment solution will be available for all point-of-sale (POS) and e-commerce payment preferences for Santander Corporate and Commercial Banking customers. They will also benefit from dedicated e-commerce consultants who will offer support to meet their payment needs.
Gerry Davies, Payments Commercial Director, Santander UK, said: “Our new partnership with Worldpay will give our UK customers access to secure and innovative ways to accept payments, alongside a suite of value added services to help improve efficiency and grow their business.”
Worldpay helps businesses handle payments wherever their customers are – whether that’s in store, online, or anywhere in between. Their payment processing works across borders, making it easier for businesses to accept payments from different customers across the world.
The UK is a key market for Worldpay where it has rolled out various payment methods like Visa’s Click to Pay which enables customers to make purchases without manually entering card details.
Chris Wood, General Manager for SMB UK and Ireland at Worldpay added: “Worldpay and Santander have a shared mission to support the growth of the UK’s vibrant SMB sector by facilitating their digital transformation and providing them with the tools and technology needed to meet evolving consumer expectations.
“This long-term agreement opens an important new distribution channel with one of the UK’s most preeminent banks to support more businesses with the tools they need to drive growth.”
UK maturity
The UK remains one of the most mature financial markets in the world, with many merchants and customers overwhelmingly preferring debit and credit card payments
UK Finance found in 2023 61% of all payments came via cards, and this is expected to rise to 66% by 2033. With cash continuing to decline in usage, card payments are still essential for businesses in order to meet consumer demand and provide a tried and tested solution.
With companies also requiring efficient digital interfaces to provide a frictionless user experience for customers, digital payment solutions are essential in enabling consumer growth and scaling business operations.
Recognising the growth of digital payments in the UK, as well as alternative payment methods, Worldpay predicted by 2027, digital payments will make up half of all e-commerce payments within the country.
