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Payment Solutions Driven By Perfection
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It’s interesting to see the evolution of the payment services provider across the EU over the years.

Thanks to the reach of the internet, the typical online payment services provider has had to evolve to deal with disruptive fintech players such as PayPal, crowdfunding platforms and others.

As a global payment services provider, it’s essential to be able to balance providing simple and flexible financial solutions for clients, partners and service providers, whilst also adhering to the demanding nature of rigorous compliance checks and due diligence.

For those in commercial sectors that feel they have little choice when it comes to choosing a global payment services provider, there’s good news. The landscape is changing at local and national levels, and there’s a stronger offering of that all-important combination of flexibility and security.

Having a strong relationship with the right payment services provider can open up a world of new financial opportunities for any business. Looking to grow your company and enter new markets? Read our blog 'Can a consultative payment services provider boost SME growth?' to find out more.

Finding a knowledgeable and trustworthy online payment services provider

A recent survey by the Global Payments Report has highlighted the changing environment which a commercial payment services provider has to navigate, as a result of the evolution and adoption of fintech.

According to this research, e-Wallets now account for over 20% of the French ecommerce market, with many residents fast adopting alternative payment methods.

The contrast is stark across the border in Germany, though. Consumers are abandoning e-Wallets, as 45% of all ecommerce transactions are set to be by direct transfer by 2020, as banks make it easier to pay that way.

Again, in comparison, the Netherlands is set to see an 18% decline in bank transfers over the same period of time, as the Dutch embrace debit cards. Alternative payment schemes are also being championed in Spain and Sweden, with the latter set to see mCommerce increase by nearly 400% by 2020.

In the UK mCommerce is set to double, and with smartphone penetration becoming a key factor in payment processes overall, it’s up to the payment services provider to provide merchants with a seamless service which is easy to implement and use. What’s more, this service must align with the often extensive compliance checks that companies face.

The importance of flexibility as a payment services provider

There’s little doubt that the payment services market is going through one of the largest upheavals in its history.

This is underlined by Research and Markets’ Global Alternative Online Payment Methods: Full Year 2016 report, which shows that alternative online payment methods will soon outrank credit cards. E-Wallets and other alternative payment methods already account for half of online sales in certain regions including China.

Innovative fintech solutions are also changing the face of business banking. With $1.2 trillion global payments moved each year within the business to business banking sector, the majority are still made by cheque.

The sector may be behind the times in a lot of ways, but that’s changing thanks to safe, flexible and professional payment solutions that satisfy compliance and regulation, and offer seamless integration to the modern business world.

Fibonatix is a flexible payment services provider that helps businesses grow. We understand the importance of due diligence, value of time and necessity of high-quality, adaptable payment processes.

Having a strong relationship with the right payment services provider can open up a world of new financial opportunities for any business. Looking to grow your company and enter new markets? Read our blog 'Can a consultative payment services provider boost SME growth?' to find out more.

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