Tide confirms offering expansion with payment acceptance

Tide, the specialist UK business financial platform, has confirmed its expansion with the roll-out of Tide Payment Acceptance later in the year.

At launch, the offering will be available in the UK, however, it will also later become available to the firm’s Indian business.

Oliver Prill, Tide CEO said: “I am delighted to have Mark on board to deliver Tide Payment Acceptance. His experience in the field is second to none and he is already making huge steps towards creating a simple and efficient product for our members in the UK and India.

“Introducing Tide Payment Acceptance is a big step for Tide and takes us even closer to our vision of giving small business owners everything they need to manage their business banking and admin under one roof. Creating smart and simple connections between the products and services needed to run a business is what we are passionate about and what makes Tide unique – this is a very exciting addition to the platform.”

Tide Payment Acceptance will enable Tide members to accept payments from customers online, on the go or at their business premises, via card terminals. Tide Payment Acceptance will support members in increasing sales, improving cash flow and removing the risks and costs associated with cash or bank transfers. 

Adding Payment Acceptance is another major milestone in building out Tide’s business financial platform for micro and small businesses. Bundling payment acceptance into the business current account will give Tide members faster access to their funds and can make use of the advanced connectivity between Tide products and services. Integrations between payment acceptance, automated accounting and cash flow analytics, for example, means previously complex tasks and data analytics will be much more simple and efficient.

Tide has appointed Mark Hazzard as VP of Financial Services, to lead the development and launch of Tide Payment Acceptance. Mark has extensive experience in the merchant acquiring and payment acceptance space, having been involved in delivering Worldpay’s merchant acquiring platform and leading a programme to launch Tyl by Natwest. Following the launch of Tide Payment Acceptance, he will also be responsible for integrating products such as business insurance into the platform.

Mark Hazzard, VP of Financial Services at Tide added: “Payment acceptance has long been a complex and costly process for micro and small businesses. I am extremely excited by the prospect of bringing the service into the Tide platform and leveraging the full range of Tide products and platform capabilities.

“Combining payment acceptance with other services such as the current account, invoicing, lending and accountancy tools will enable Tide members to automate their financial tasks and have a holistic view of their business performance, demonstrating a significant time-saving.”