SMEs are the lifeblood of our financial ecosystem and we stand with them.
These can feel like uncertain times for startups and entrepreneurs. Ongoing problems with late payments are crippling small businesses as they try to juggle their balance sheets and fight cashflow challenges, all whilst trying to find ways to positively entice new consumers and build on their new business pipelines….not forgetting having to constantly find ways to prioritise customer experience and consumer retention.
We hear you, we see you and we are here to help lighten the load.
At fumopay, we understand that there might be some hesitation around implementing a new financial system - particularly for the time poor - but we are here to break down the list of game-changing benefits that cannot, and should not, be ignored by the savvy entrepreneur.
Ultimately, card and direct debit payment processing can come at a high price; both in laborious admin and steep banking fees. What if you could substantially alleviate these issues and take back control of your finances?
There are countless benefits to Pay by Bank but some might say those benefits are often cloaked in bewildering jargon. We hear you! We have broken down these financial advantages and extracted the financial abbreviations that so often cause more confusion….
So here we go:
Faster: fumopay provides instant settlement taking the agonising wait for card and debit payments to clear.
Lower fees: fumopay can save you up to 80% compared to card payments - yes, you read that right!
Heightened Security: A significant decrease in card fraud is arguably the most celebrated element of Open Banking. Every purchase is subject to Strong Customer Authentication, i.e. the same approach to access your banking app which enforces this layer of security, both for the business and the consumer alike.
Higher consumer conversion: fumopay prioritises customer experience and smooths-out the mobile first payment process. It removes the need to enter any card or bank data which heightens the customer experience, resulting in greater consumer loyalty.
Admin: No more tedious manual inputting of customer information. Customer information is automatically there.
Rest assured, your money is taken very seriously. There are extremely robust regulations around Open Banking which means that only authorised companies can provide these services and fumopay is one of those. fumopay is also regulated by the Financial Conduct Authority (FCA) which is a strict, financial services regulation body that keeps the finance industry safe and stable.
You have enough to do, let us lighten your financial workload….Sign up as a Merchant here.
