Fintech firm FMPay are creating a new acquiring platform to reach the growing needs of businesses with cross-border shoppers, offering the possibility to transact in 63 currencies, create adaptive payment pages and multiple payment options to make e-commerce easier, inexpensive and more secure for consumers and retailers alike.
The Cheltenham-based business, a principal member of Mastercard and we are building an affordable, low-risk and multi-functional platform for small to medium online retailers, especially those providing educational services. Unlike PayPal and similar payment portals, FMPay’s technology will enable the customer to pay a business directly from their card or account, ensuring a rapid, hassle-free experience with attractive fees below the current market rate.
FMPay has in its toolbox a number of modules for easy integration with popular ecommerce content management systems, including Magento, Prestashop and OpenCart. Not only that but they can generate detailed analysis of all transactions, accounting, and financial reports.
Of course, security is FMPay’s number one priority. Buyer activity is monitored using a powerful AI-based anti-fraud system which continuously calculates a risk score. This helps to fight fraudsters before they hit revenues while keeping a high conversion rate for genuine customers.
FMPay are planning to expand into the EU by the end of 2021, acquiring a licence to operate with European businesses. More card schemes, such as Visa, Union Pay, JBC and Amex are planned to come on board as well as local payment system acquiring methods such as iDeal and Bancontact.
