Sage & Stripe expand partnership to streamline SMB payments

Sage has announced an expansion of its strategic partnership with Stripe, aiming to improve cashflow management and payment processing for small and mid-sized businesses (SMBs).

According to the companies, this collaboration seeks to provide SMBs with enhanced control over their cashflow and payment processes, including streamlined checkout and payment processing, Tap to Pay contactless payments, intelligent payment recommendations based on customer location, auto-reconciling bank transfers, and secure payment protocols.

This partnership highlights Sage's intention to expand its global payments ecosystem to ensure a growing number of its customers can manage their cashflows more effectively. Walid Abu-Hadba, Chief Product Officer at Sage, remarked, "This partnership signifies a shared vision between Sage and Stripe to transform how SMBs pay and get paid, helping our customers to simplify cashflow management.

"We are committed to harnessing the power of technology to drive innovation, enhance efficiency, and pave the way for growth," he said.

Sage's integration with Stripe is available in the United Kingdom through Sage Accounting, Sage 50, and Sage 200. Additionally, Stripe is integrated into the Sage Network, enabling customers to access a broader range of applications and features, such as automating accounts receivable (AR) and accounts payable (AP) processes through Sage Connect.

Customers will benefit from features such as streamlined checkout and payment processing, facilitating easier account reviews and payments through Sage Connect's customer account portal and Stripe Checkout. The partnership also supports multiple payment methods, accepting payments from digital wallets, cards, and bank transfers. Stripe uses machine learning to identify the most relevant payment methods based on customer location.

Furthermore, a unified payments experience enables small and mid-sized businesses to collect payments online and in person through Tap to Pay, allowing for seamless, contactless payments without needing terminal hardware. Security is a priority, with Stripe's advanced security protocols and compliance with global financial regulations ensuring transactions are safeguarded against fraud and data breaches.

Eileen O'Mara, Chief Revenue Officer at Stripe, expressed enthusiasm about the expanded partnership, stating, "Sage understands the importance of innovating for its customers, and we're thrilled to be part of its journey.

:Stripe is building a suite of software-defined financial services to enable leading platforms like Sage to provide integrated features that make their customers' lives easier," she said.

This partnership enhances Sage's existing payments and banking ecosystem, offering integrated financial services that aim to simplify and automate cashflow and financial management processes for small and mid-sized businesses around the globe.