Fumopay is an instant payment platform that utilizes Open Banking principles to enable secure account-to-account transactions for businesses and consumers. By streamlining payment collection and reducing transaction costs, it enhances cash flow for businesses and ensures charities receive 100% of donations instantly.
Funding
$890K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Businesses face challenges with slow payment collection, high transaction costs, and inefficiencies in managing cash flow, while charities often incur fees that reduce the total donation amount they receive. Traditional payment methods can be cumbersome and lack real-time processing, leading to delays and increased operational overhead.
Solution
Fumopay is an instant payment platform that utilizes Open Banking to enable secure account-to-account transactions for businesses, consumers, and charities. By leveraging Open Banking principles, Fumopay streamlines payment collection, reduces transaction costs, and ensures faster access to funds. The platform offers a more efficient and cost-effective way for businesses to collect payments, while ensuring charities receive 100% of donations instantly. Fumopay provides solutions for various sectors, including accounting, e-commerce, retail, and social payments, all within a single integrated platform.
Target Audience
Fumopay targets businesses of all sizes, charities, accountants managing client payments, and individuals seeking a streamlined solution for social payments and bill splitting.
Features
- Instant account-to-account payments via Open Banking
- Integration with Xero and other ERP solutions like FuseMetrix
- Mobile payment capabilities for on-the-go transactions
- White-label payment options for customized branding
- Dedicated solutions for businesses, charities, and social payments
- Facilitates bill splitting and group payment management
- Secure and FCA-approved payment processing