Small businesses now have the option for instant card payments, as Vivid and Adyen join forces to roll out this new service.
In a groundbreaking move, fintech platform Vivid, in partnership with Adyen, has launched a card acquiring solution designed specifically for small and medium-sized enterprises (SMEs) across Europe. This innovative service aims to make the latest payment technology accessible to even the smallest businesses, revolutionising the way they manage transactions and finances.
With this new solution, SMEs can now accept card payments online and at the point of sale, with the added advantage of instant fund transfers. This feature, made possible by the partnership between Vivid and Adyen, speeds up the settlement process of card payments, addressing the typical delay of several days to access revenues. This acceleration improves cash flow and financial agility for small businesses.
The seamless integration of Adyen's payment processing capabilities directly into the Vivid Money interface enables merchants, upon acceptance of Adyen's terms, to withdraw revenues from payments directly to their Vivid account without delays or additional steps.
The solution supports easy integration with various platforms and services, such as eCommerce websites, marketplaces, and point-of-sale systems, providing flexibility and reducing IT overhead for small business operators. This lowers the barrier for small businesses to accept card payments quickly and efficiently.
By leveraging Adyen's technology within Vivid's fintech setup, small businesses gain access to an end-to-end card acquiring service without needing extensive technical resources or long onboarding times, enabling faster deployment and growth opportunities.
Studies show that 55% of European SMEs that accept card payments report customers spending more with a card, and 41% of SMEs have seen an increase in sales of between 6% and 15% after introducing digital payments. The new solution also enables acceptance of various payment methods, including Apple Pay and Google Pay, catering to the diverse preferences of customers.
Hella Fuhrmann, Country Manager DACH at Adyen, confirmed that the partnership with Vivid aims to make simple, transparent financial solutions, previously only available to large enterprises, accessible to SMEs. This collaboration is set to empower small European businesses by providing instant payment settlements and simple integration across multiple sales channels, effectively improving cash flow and operational ease in a competitive market.
The new acquiring service is now available to all Vivid Business customers in the European Union. It is integrated with popular e-commerce platforms like WooCommerce, OpenCart, Wix, among others, making it easy for businesses to adopt this innovative solution.
[1] Source: Vivid press release, 2021 [3] Source: Vivid and Adyen partnership announcement, 2021
Businesses using Vivid, now have the opportunity to leverage Adyen's technology for faster and easier card payments, thanks to their partnership. This collaboration allows SMEs to accept various payment methods, including Apple Pay and Google Pay, offering flexibility to cater to diverse customer preferences.
The integrated solution, accessible to all Vivid Business customers in the European Union, streamlines the settlement process of card payments, improving cash flow and operational ease for small enterprises. This innovation, through its seamless integration with popular e-commerce platforms, lowers the barrier for businesses to adopt digital payment solutions, empowering them in a competitive market.
