Lloyds Bank teams with Stripe to revolutionize small business payments

Lloyds Bank has partnered with Stripe to offer small businesses advanced payment solutions. The new service, called Lloyds Accept, integrates Stripe’s technology into Lloyds and Bank of Scotland Business Accounts. It aims to help businesses streamline operations and improve cash flow. Lloyds Accept is powered by Stripe Connect and embedded directly within Lloyds’ Business Accounts. The service allows businesses to accept payments using just a smartphone and the Lloyds Accept app. It also supports Tap to Pay on iPhone and Android for contactless transactions.

Sign-up is quick, often completed within minutes. This enables businesses to start trading almost immediately. Amanda Murphy, CEO of Lloyds Business & Commercial Banking, highlighted that the tools help businesses get up and running fast, supporting healthy cash flow.

Stripe, which processes payments for millions of businesses globally, provides the underlying infrastructure. Eileen O’Mara, Stripe’s Chief Revenue Officer, said the company is excited to work with Lloyds to bring cutting-edge payment technology to UK small businesses. The collaboration gives small businesses access to modern payment tools through their existing bank accounts. With faster set-up and contactless payment options, Lloyds Accept is designed to help businesses operate more efficiently. The service is now available to Lloyds and Bank of Scotland Business Account holders.