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donovanpg
Jul 17, 2023
In General chat
At fumopay, we're committed to empowering the UK's food truck owners and culinary entrepreneurs, helping you maximise your profits and expand your business. We're challenging the status quo where banking institutions charge excessive card processing fees for every customer purchase. You're a food truck owner. You shouldn't be funding card companies with your hard-earned profits! Take back control and stop paying exorbitant fees. Say goodbye to card payment machines, credit card minimum payments, and monthly reconciliation, and start keeping more of your profit! Have you ever calculated how much you're paying just to get paid? Did you know that some food truck owners lose over 2+% of their profits to processing fees for every card payment? It's no surprise that banks bury this information in the fine print... fumopay is a revolutionary account-to-account payment solution, leveraging the Open Banking platform, that eliminates the need for card payments. No card means no spiralling card fees and, as a bonus, no card fraud. These significant savings can fuel substantial growth for your food truck business by allowing you to reinvest these fees back into your culinary venture. Alongside this, the practical element of running a food truck means continually using one payment machine to take payment, creating a bottleneck and a dreaded queue! With fumopay, everyone has a payment device in their pocket. We want you to have more people queuing for your food, not to make payment!  This summer, we're focusing on street food and food truck vendors during your peak season.  We're offering you culinary saviours zero processing fees for a month from sign-up so that you can savour the pure delight of not paying to get paid!
Food Truck owners of Great Britain, Unite!  content media
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donovanpg
Jul 13, 2023
In General chat
We at fumopay are intent on helping you, the UK's small business owners and entrepreneurs, to maximise your profits and grow your business rather than continue to allow banking institutions to charge inordinate card processing fees for every purchase a customer makes. You’re a small business, you shouldn’t be spending your hard-earned profit on funding card companies! Take back control and stop paying such high fees, stop using card payment machines, get rid of credit card minimum payments, be gone with monthly reconciliation and start keeping more of your profit! Do you know how much you’re paying to get paid?! Did you know that some merchants have over 2+%  of their profits swallowed up in processing fees for every card payment taken? It’s no wonder that banks & card providers  keep this information in their small print… fumopay is a new and innovative account-to-account payment solution based on the Open Banking platform that eliminates the need for card payments. No card means no escalating card fees and, as a bonus, no card fraud.   Saving these significant fees can result in substantial business growth by allowing you, the business owner, to redistribute these fees back into your business.   With a reported 81% of SMEs collapsing under the weight of escalating fees, and late payments that bottleneck their cash flow, fumopay is intent on helping entrepreneurs like you to carry on innovating by saving = money.    Every quarter, fumopay will be focusing on specific industries to help entrepreneurs realise the potential of how these savings could positively impact their businesses. In short, fumopay is putting its money where its mouth is.  Talking of mouths, this summer, we are focusing on our beloved street food/food truck industry during its busiest period of the year.  We will offer these merchants zero processing fees for a month from sign up (referral codes FT07) so that businesses can experience the unadulterated joy of not paying to get paid!
Communities Rise Up!  content media
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donovanpg
Jan 30, 2023
In General chat
As we all know, our world is constantly evolving, modernising and innovating, creating ways to make our day-to-day lives easier….. and banking is no exception. In 2018, ‘Open Banking’ was introduced in the UK, thanks to new legislation that simplifies payment transactions and protects your data. Open Banking allows only regulated organisations - such as fumopay - access to customer information & banking services that have historically only been accessible within your bank or between banking systems. By opening up such access in a secure manner, 3rd party organisations such as fumopay can accelerate innovation and build new services that take advantage of information & services to bring greater value to the banking customer. Banks have had the monopoly on mandating their services (and ever-rising fees) to customers for too long. Not only does Open Banking bring new competition directly to these banks, allowing fees to become more competitive, it also allows companies like fumopay to design solutions that can have a real impact on customers' daily lives. Whether you wish to consolidate all your bank accounts, savings and investment information in one app, or use open banking to pay faster and more securely using just your mobile device. With over 5 million (and counting) active users in the UK, Open Banking based applications and services are rapidly becoming commonplace in our society. The term ‘Open Banking’ is not a product or service, it’s a set of services working for you in the background, designed to bring efficiency, convenience, security and value to your daily lives.
What is Open Banking? content media
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donovanpg
Jan 27, 2023
In General chat
2022 threw up a fair amount of uncertainty in many ways; most notably in UK politics and finance. With the cost of living crisis dominating the news, it has left a somewhat bleak outlook both in society and industry alike, with retail and SMEs arguably suffering the biggest blows. Somewhat ‘under the radar’ for many - has seen the rapid rise of ‘Pay by Bank’ which is based on the principles of Open Banking. Whilst Pay by Bank / Open Banking has enjoyed a steep spike amongst those ‘in the know’, much is being reported that a lack of education amongst the wider public has resulted in a hesitancy to adopt the new and contemporary way of processing payments - for both retailers and consumers. This, we must rectify, as there are enormous benefits of choosing ‘Pay by Bank’ to settle a transaction, this can, and will, help SMEs rectify the often crippling issues of late payments. ‘Pay by Bank’ transactions take place in real-time and require no credit or debit card details and thus provides near-elimination of online fraud with transactions authenticated in the customer's banking app. At fumopay - with ‘Pay by Bank’ at our core - we found ourselves at the crest of this wave. As 2022 unfolded, it became ever-clearer what our crusade would be, to improve both personal and business’ cash flow by enabling payments to be expedited quickly, safely, easily and cheaply, thus focusing us on improving SMEs and consumer’s financial landscapes by speeding up payments and unblocking their cashflow. Complimenting our mission to aid businesses expedite payments, innovative accounting software giant, Xero, have now partnered with fumopay to offer their users a Pay by Bank option. This integration process will be rolled-out to wider accounting software over the course of the year. As dawn breaks in 2023 we, at fumopay, pledge to use our voice, and platform, to educate and advise on the extensive benefits of adopting the Pay by Bank method, which, some might say, has been a rather opaque subject to date. This will go someway to prompt the discussion, improve awareness and reach our company’s overall ambition of bettering our society’s financial wellbeing.
Looking Back, Looking Forward content media
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donovanpg

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