Square Partners With Salt Edge to Offer Open Banking Capabilities to UK-Based SMEs

Square, the technology company that makes commerce and financial services easy and accessible, has partnered with Salt Edge, a leading open banking platform, to help streamline and simplify payment operations for sellers in the UK. For over 15 years, Square has been combining hardware and software tools designed to help all-sized businesses streamline their services. Square has launched point-of-sale solutions like Square Online, Square Appointments, and Square for Restaurants, along with various smart tools. From cash flow, inventory, and team management to loyalty and marketing programs—all to take some of the complexity out of running a business, giving their customers time to focus on what they do best. With a strong global footprint and easy-to-integrate solutions, Salt Edge was a strategic choice, especially considering Square’s international status. Together with Salt Edge, Square enables its customers to meet the growing demand for transparent and secure financial data sharing, all while being compliant with the latest Open Banking regulations. The partnership is particularly valuable for users of the recently launched Square Card in the UK. The card empowers underserved SMEs in the region to stay on top of their finances and manage them all in one place. By integrating Salt Edge’s full-stack Open Banking Compliance solution, Square customers can choose to share their data with banks and other regulated third-party providers through secure APIs. As a result, UK businesses can gain access to a variety of tailored financial services and personalised insights into their spending patterns, allowing for more control and informed decision-making. Samina Hussain-Letch, Executive Director at Square UK: "We’re really excited to see the integration with Salt Edge go live. Square Card is a new product for us in the UK and an important solution for small businesses to manage cash flow, which we know is often the biggest blocker for starting and growing a business. Salt Edge offers APIs that enable businesses to share their data with other banks and financial institutions of their choosing, helping us to further streamline and simplify operations for our sellers, which allows them to run, thrive, and grow." Andrei Scutari, Open Banking Head of Sales and Country Manager at Salt Edge "The collaboration between Square and Salt Edge comes at a crucial time for small and medium-sized businesses in the UK, where managing cash flow is essential for growth. Salt Edge’s full-stack Open Banking Compliance solution seamlessly integrates with Square’s ecosystem, enabling businesses to securely share their financial data with banks and regulated third-party providers of their choice. This feature helps Square customers maintain better control over their finances, ensuring smoother cash flow management and allowing them to respond more quickly to market demands."