FinGrid provides a unified payment API that enables merchants to accept instant bank-to-bank payments for both online and in-person transactions, significantly reducing payment processing fees by over 80% and chargebacks by more than 98%. This solution enhances the customer experience by allowing seamless payments without leaving the merchant's platform, ensuring sensitive information remains secure.
Funding
Funding not disclosed
Founders
Product
Problem
Merchants face high payment processing fees and chargeback rates when accepting online and in-person payments via traditional methods like credit cards. These costs erode profit margins and create operational overhead.
Solution
FinGrid offers a unified payment API that enables merchants to accept instant bank-to-bank payments, reducing processing fees by over 80% and chargebacks by more than 98%. By allowing customers to connect and pay directly with their bank accounts, FinGrid eliminates intermediaries and lowers transaction costs. The solution integrates into online websites, mobile apps, and POS systems, allowing customers to make payments without leaving the merchant's platform. FinGrid's API can be integrated with less than 5 lines of code, enabling businesses to launch "Pay with Bank" functionality in under an hour.
Target Audience
FinGrid targets retailers, e-commerce businesses, freelancers, software teams, and other businesses that want to reduce payment processing fees and chargebacks.
Features
- Unified payment API for online and in-person bank-to-bank payments
- "Pay with Bank" button for website and mobile app integration
- Reduced payment processing fees (as low as 0.3% or 10 cents flat)
- Chargeback reduction through direct bank authentication
- Real-time bank connections for fraud prevention
- Daily settlements
- API documentation and support for developers