Faster payments with fumopay
We’re very pleased to confirm we’re now helping our clients receive payments faster, thanks to our new partnership with fumopay
 
If you use Xero to create your sales invoices, fumopay allows your customers to pay online, or using their mobile device in a couple of clicks. There’s no need to set up a new payee account or double check account numbers and sort codes. It’s faster than a bank transfer and cheaper than taking card payments via Stripe or PayPal, for example. fumopay charge 0% per transaction, with just a small annual fee
 
To find out more see the fumopay video

How fumopay helps 

fumopay is a Xero connected app partner which allows you to offer your customers an extra option for fast and simple payments. 
 
Card payments come at a cost, and it takes time for funds to arrive in your bank account. Traditional bank transfers take time and effort to set up which affects your customer’s payment journey. Instead, fumopay payments go straight into your account and customers can pay in a couple of clicks. 
 

How fumopay works 

fumopay uses open banking technology to provide account-to-account payments, where transactions are made directly from one bank account to another. 
 
fumopay’s integration with Xero allows simple payments straight from your invoices. You’ll see the payment immediately in Xero and you can reconcile it straight away. There’s no need to wait for your monthly credit card remittance. 
 
As long as your customer uses online banking they can pay online or use a smartphone or tablet device. They don’t have to download the fumopay app. as they’ll be taken directly to their own bank app to authorise payment. 
 

Is fumopay secure? 

Open banking is built on the secure systems already used in the financial sector. You might already use it to pay your utility and tax bills, for example. It uses secure application programming interfaces (APIs) in the same way as online banking and other online services. There’s no need to share security details and the whole process is completed digitally. 
 
Payments use Strong Customer Authentication, approved using combinations of passwords or personal identification numbers (PINs), fingerprints or facial recognition. The risk of fraud is reduced and there aren’t any chargebacks afterwards. 
 
fumopay is regulated by the Financial Conduct Authority (FCA) which is the regulation body for financial services. The FCA has strict rules to keep the finance industry safe and stable. 
 
If you would like to know more about fumopay for your business please get in touch. 
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