Fintech company Fumopay chooses a new partner for processing transactions
In a significant move, Full Power Utilities' commercial energy services clients will now benefit from a more diverse range of payment options, as the company has integrated Fumopay into its enterprise resource planning (ERP) platform, replacing PayPal.
Fumopay, a payment platform founded by Kevin Ludford, offers a single integrated checkout solution that empowers businesses to accept both card payments and instant bank payments through a unified interface.
The partnership between Fumopay and Cashflows, a payment processing firm specialising in providing payment acceptance for merchants, is expected to bring about numerous benefits for both merchants and consumers.
For merchants, this partnership could mean expanded payment options, including multiple local and international payment methods, increased payment acceptance rates, smoother transaction processing, and potentially lower payment processing fees. This could enhance sales conversion and customer satisfaction.
Consumers, on the other hand, may enjoy greater convenience and flexibility in payment choices, improved payment security, faster and more reliable transactions, and potentially more localised or preferred payment methods.
Paul Clarke, chief growth officer at Cashflows, has stated that the partnership is beneficial for both companies. The partnership will provide merchants and consumers with increased choice at checkout, aiming to enable merchants to provide their customers with secure and flexible payment options.
Fumopay has chosen Cashflows as its acquiring partner for Open Banking-enabled payment solutions. This partnership allows Fumopay to offer card processing services alongside account-to-account Open Banking payments.
Ludford stated that the partnership with Cashflows allows Fumopay to offer card processing services alongside account-to-account Open Banking payments, offering functional and commercial benefits. He added that the combination of Pay by Bank and paying by card, enabled by the partnership with Cashflows, offers merchants these benefits.
Cashflows is eager to see where the partnership between the two companies goes as both continue to grow at pace. The partnership is expected to drive better experiences and increased revenue for merchants.
In conclusion, the integration of Fumopay into Full Power Utilities' ERP platform and the partnership with Cashflows is set to bring about a more seamless and diverse payment experience for UK businesses and their customers.
- The integration of Fumopay into Full Power Utilities' ERP platform will offer data on various payment transactions for further analysis and business improvement.
- The partnership between Fumopay and Cashflows is expected to contribute to open banking, expanding the finance industry's technological capabilities in payment solutions.
- With Fumopay's single integrated checkout solution and Cashflows' services, businesses can now accept both traditional card payments and open banking payments more easily.
- The collaboration between Fumopay and Cashflows is likely to increase the adoption of fintech in the business sector, making payments more efficient and secure.
