Vivid, a financial platform for entrepreneurs and SMBs, is teaming up with global fintech platform Adyen to launch a full-scale card acquiring solution that enables SMBs to accept card payments and access their earnings instantly.
Through the partnership, Vivid and Adyen looked to address challenges for small businesses in getting paid, with many still having to wait several days to access their own revenues from card payments.
Despite the growth of digital commerce, many small businesses remain offline when it comes to accepting payments. According to Visa, 34 per cent of European micro and small merchants still do not accept card payments, mostly because of high costs and complicated onboarding processes.
Even for those who do accept cards, wait times remain long. In fact, 35 per cent of SMBs wait hours or even days to receive their revenues, creating cash flow gaps that prevent them from reinvesting in their business.
However, despite the challenges, the benefits of accepting digital payments appear clear. Fifty-five per cent of small businesses in Europe that accept debit or credit card payments report that customers spend more when using cards. Meanwhile, 41 per cent have seen their turnover increase by six per cent to 15 per cent after adopting digital payments.
However, Vivid and Adyen say that too many entrepreneurs are still held back by slow settlement times and high fees. To remove these barriers, the new card acquiring solution enables SMBs and entrepreneurs can accept card payments, Apple Pay, and Google Pay through invoice payments, Pay by Link, or e-commerce plugins, such as WooCommerce, OpenCart, and Wix.
Supporting European SMBs
Vivid also offers a combination of instant payouts and competitive pricing. While most providers settle payments after hours or even days, Vivid transfers revenue to the entrepreneur’s account in real time, once the customer requests a payout.
This aims to give businesses immediate access to their money at a fraction of the cost, allowing them to pay suppliers, cover wages, and invest in growth without delay.
“Partnering with Adyen allows us to bring enterprise-grade payment technology to the smallest businesses in Europe,” explained Alexander Emeshev, co-founder of Vivid Money. “Whether you’re a freelancer starting out on our free plan or an SMB scaling your operations, you can now accept payments effortlessly and get your revenues instantly – no complicated setups, no expensive subscriptions.
The new card acquiring service is already available to all Vivid Business customers across the European Union.
“With our Adyen for Platforms model, Vivid can offer their customers a seamless way to accept payments online and in-person, and access their funds instantly,” added Hella Fuhrmann, country manager DACH at Adyen. “It’s a powerful step toward solving the everyday cash flow and complexity challenges that small businesses face.”
