US payment processing platform Stripe is collaborating
with Sage, a UK-based software firm, to enhance cash flow management and
payment processing among small and medium businesses (SMBs).
By utilizing Stripe’s financial infrastructure, Sage
seeks to offer its customers a solution to enhance their financial processes
with a range of features, including checkout and tap-to-pay contactless
payments.
Cash Flow Management
Sage’s integration with Stripe offers UK SMBs a tool to enhance their financial operations. According to the company’s statement, Sage customers can benefit from better payment processing for quicker
and more efficient transactions by utilizing Stripe’s infrastructure.
“This partnership signifies a shared vision between
Sage and Stripe to transform how SMBs pay and get paid, helping our customers
to simplify cash flow management,” Walid Abu-Hadba, the Chief Product Officer
at Sage, said. “We are committed to harnessing the power of
technology to drive innovation, enhance efficiency, and pave the way for
growth.”
Additionally, the collaboration introduces multiple
payment methods, including digital wallets, cards, and bank transfers, enabling
SMBs to offer their customers a variety of payment options. The firms described
this offering as crucial for improving cash flow and reducing outstanding
invoices, as customers can easily choose their preferred method of payment.
Sage’s integration with Stripe also ensures a unified
payment experience. Businesses can reportedly collect payments online and in
person through tap-to-pay for contactless transactions.
Simplifying Financial Processes
A key benefit of the Sage-Stripe partnership is the
auto-reconciling bank transfer feature. This functionality enables customers to
pay invoices via bank transfer, streamlining the reconciliation process and
reducing businesses’ administrative burdens.
Additionally, the integration with Sage Network
provides customers with access to a broader ecosystem of applications and
features, such as Sage Connect, which automates accounts receivable (AR) and
accounts payable (AP) processes.
Notably, Stripe introduced payment tools and financing options for UK’s small businesses in the UK in May. The payment giant mentioned that the offering enables users to access faster and cheaper payments on the new platform. The offering seeks to tackle the challenge of securing funds faced by businesses in the region.
Named Stripe Capital, this service lets businesses access financing for investing in growth, such as purchasing new equipment and improving customer services. Stripe can assess eligibility using business transaction history, and funds reportedly arrive the next business day. Repayment starts as the business earns.
US payment processing platform Stripe is collaborating
with Sage, a UK-based software firm, to enhance cash flow management and
payment processing among small and medium businesses (SMBs).
By utilizing Stripe’s financial infrastructure, Sage
seeks to offer its customers a solution to enhance their financial processes
with a range of features, including checkout and tap-to-pay contactless
payments.
Cash Flow Management
Sage’s integration with Stripe offers UK SMBs a tool to enhance their financial operations. According to the company’s statement, Sage customers can benefit from better payment processing for quicker
and more efficient transactions by utilizing Stripe’s infrastructure.
“This partnership signifies a shared vision between
Sage and Stripe to transform how SMBs pay and get paid, helping our customers
to simplify cash flow management,” Walid Abu-Hadba, the Chief Product Officer
at Sage, said. “We are committed to harnessing the power of
technology to drive innovation, enhance efficiency, and pave the way for
growth.”
Additionally, the collaboration introduces multiple
payment methods, including digital wallets, cards, and bank transfers, enabling
SMBs to offer their customers a variety of payment options. The firms described
this offering as crucial for improving cash flow and reducing outstanding
invoices, as customers can easily choose their preferred method of payment.
Sage’s integration with Stripe also ensures a unified
payment experience. Businesses can reportedly collect payments online and in
person through tap-to-pay for contactless transactions.
Simplifying Financial Processes
A key benefit of the Sage-Stripe partnership is the
auto-reconciling bank transfer feature. This functionality enables customers to
pay invoices via bank transfer, streamlining the reconciliation process and
reducing businesses’ administrative burdens.
Additionally, the integration with Sage Network
provides customers with access to a broader ecosystem of applications and
features, such as Sage Connect, which automates accounts receivable (AR) and
accounts payable (AP) processes.
Notably, Stripe introduced payment tools and financing options for UK’s small businesses in the UK in May. The payment giant mentioned that the offering enables users to access faster and cheaper payments on the new platform. The offering seeks to tackle the challenge of securing funds faced by businesses in the region.
Named Stripe Capital, this service lets businesses access financing for investing in growth, such as purchasing new equipment and improving customer services. Stripe can assess eligibility using business transaction history, and funds reportedly arrive the next business day. Repayment starts as the business earns.
This post is originally published on FINANCEMAGNATES.
