The new solutions expands the opportunities of SME businesses that would typically be more likely to use commercial vehicles.
One of the main advantages of this solution is that it gives entrepreneurs the ability to accept payments from their customers immediately, rather than waiting for an invoice to be paid at a later date. This in turn can help them manage their cash flow more optimally, particularly in cases when they need to receive a deposit to buy the materials to start the job or pay their subcontractors.
Alexander von Schirmeister, Executive Vice President Europe at SumUp commented: “The cooperation with Mastercard and Ford completely fits with our corporate philosophy.
“Our ambition has always been to support small businesses in their daily work and make it easier for them to get paid doing what they love. The new Marketplace feature within the FordPass Pro app embodies this approach and we are pleased to be a part of it with our payment technology and wide range of services.”
Another benefit is that it gives these small businesses more choice by enabling them to accept card payments – including contactless – as opposed to cash only.
Jason Lane, Executive Vice President, Market Development Europe, Mastercard added: “Now more than ever, small businesses are an indispensable part of our economy, and a crucial part of our recovery moving forward. Providing them more options on how they want to make and receive payments can help them manage their cash flows and ultimately improve their bottom lines. To that end, we are delighted to be the partner of choice of SumUp and Ford in delivering innovative payment solutions that support European small business owners.”
Mark Harvey, Director, Enterprise Connectivity at Ford of Europe also stated: “From couriers putting in the miles to tradespeople putting in the hours, we recognise that for hard-working small businesses small savings can add up to make a big difference. FordPass Pro, with unique cost- and time-saving offers from the likes of SumUp and Mastercard, is another example of how we are able to use our scale and buying power to help small businesses to thrive.”