UK mid-market businesses are on track to benefit from the ‘future of payments’ after Access PaySuite (a division of Access UK Ltd) acquired electronic direct debit provider, SmartDebit.
Access PaySuite, part of The Access Group, a provider of business software solutions to the mid-market, is one of the UK’s growing digital payments providers operating in a challenging and highly fragmented sector.
SmartDebit was founded in 1998 initially providing cheque processing services before broadening its suite of products and payment related services to also include direct debit, BACS Credit and SEPA. Its customers include Age UK, The Pensions Regulator and Ovo Energy.
Following FCA approval of the acquisition, Access PaySuite, which launched to market in June 2021, now has a customer base of more than 6,500 and processes 82 million transactions annually, with a value in excess of £6.5bn.
Combining The Access Group’s background in innovation and standing as a leading SaaS provider, Access PaySuite offers businesses and organisations in sectors including finance, insurance, utilities, not-for-profit and e-commerce an accessible and affordable, cloud-based payments solution.
Following the acquisition, Access PaySuite will be delivering payments through Access Workspace, allowing customers a unique approach to integrating payments and software.
Commenting on the acquisition, Andrea Dunlop, managing director of Access PaySuite, said:
“We are hugely excited to welcome SmartDebit to The Access Group, as a natural and exciting progression in our journey to become one of the UK’s leading digital payments providers. Making digital payments technology accessible has never been more important for businesses who are looking to deliver a flexible and seamless experience for their customers.
“We have seen a huge shift towards online payment methods in recent years and this trend only looks set to continue. It’s vital businesses stay ahead of the curve when it comes to payments, providing their customers with solutions that allow them to pay when and how they want, as well as accelerating their own business growth.”
Terry Jones, CEO of SmartDebit, said:
“We’re incredibly excited to be joining The Access Group, which shares our ambition and vision to create seamless and customer-friendly payment experiences. Access is a leader in cloud-based software solutions and our team is looking forward to assisting the progression to become the go-to provider of credible, secure and scalable payments in the UK.
“I’d also like to thank our loyal customers for their ongoing support and we’re looking forward to continuing those relationships further as part of The Access Group. We’re also looking forward to bringing the latest cutting-edge solutions and innovation to even more customers.”