British lender CYBG has signed a referral partnership to offer Worldpay’s payments services to its business customers.
The five-year alliance will enable the bank’s customers to avail the complete Worldpay payments suite. These include traditional and mobile POS solutions, online gateway products, and omni-channel payments technology.
Under the agreement, the bank’s customers can also access the payment firm’s other tools such as the Worldpay Business Dashboard.
The aim of the partnership is to accelerate the time taken by small businesses to set up and start operations.
CYBG group customer banking director Gavin Opperman said: “The completion of this new agreement marks the next phase of our partnership with Worldpay and the provision of merchant services to our customer base is an important cornerstone of our business offering as a full-service challenger bank.
‘As well as enhancing the services available for existing customers, this will also benefit customers who change their banking provider once the RBS Business Bank Switch Scheme launches in February 2019. This is a significant opportunity to increase competition in SMB Banking and the introduction of these additional payment products with Worldpay further boosts our technology offer.”
Worldpay currently processes over 40 billion transactions per year in 146 countries. The firm supports more than 300,000 small businesses in the UK.