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FinanceMagnets
Published on 2024-07-26 | 1 month ago
Stripe and Sage Collaborate to Enhance Payments among Small Businesses in the UK
US payment processing platform Strip is collaborating
with Sage, a UK-based software firm, to enhance cash flow management and
payment processing among small and medium businesses. 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 ManagementSage’s integration with Stripe offers SMBs in the UK a
tool to enhance their financial operations. According to the statement by the
company, Sage customers can benefit from better payment processing for quicker
and more efficient transactions by utilizing Stripe’s advanced 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 ProcessesA 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.
This article was written by Jared Kirui at www.financemagnates.com.
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