Lloyds and Stripe launch instant payment tools for UK small businesses

Lloyds has partnered with Stripe to offer new payment tools for small businesses. The collaboration introduces Lloyds Accept, a suite of payment solutions integrated into existing business accounts. Sign-up takes only minutes, giving companies quick access to modern payment technology. The new service, Lloyds Accept, lets businesses take contactless payments through Tap to Pay on iPhone or Android. They only need a smartphone and the Lloyds Accept app to get started. This removes the need for extra hardware.

Stripe’s global payment system powers the tools behind Lloyds Accept. The partnership aims to help small businesses streamline transactions and focus on growth. Amanda Murphy, CEO of Lloyds Business & Commercial Banking, said businesses need simple, flexible solutions to serve their customers better.

Eileen O’Mara, Chief Revenue Officer at Stripe, highlighted the importance of small businesses to the UK economy. Stripe already supports millions of companies worldwide, from startups to large firms. The company expressed enthusiasm about bringing its technology to UK small businesses through this partnership. Lloyds Accept is now available within Lloyds and Bank of Scotland Business Accounts. The tools are designed to help small businesses operate more efficiently. With faster sign-ups and contactless payment options, the service aims to simplify transactions for UK companies.