For SME owners to reach the next level, it’s essential they partner with a payment services provider that streamlines their payment systems and breaks down complex industry terms to make them easy to understand.
When business costs are tight, and every second of your day needs to be focused on running and growing your business, learning about the financial technology (fintech) industry may not be top of your list.
Fintech is just one phrase you should be aware of if you’re looking to expand into new markets and territories, though. Luckily, the best payment services providers should be able to break down complicated jargon to help make you more comfortable about changes in payment technology.
With impending changes to regulations for EU fintech companies, the expert support of a complex payment services provider could help your SME to take on the competition and attract a bigger audience interested in who you are and what you have to say.
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.
Uncover financial growth opportunities with a complex payment services provider
A good payment services provider will do more than introduce new ways for you and your customers to pay. They will also break down difficult industry terms, help you with compliance, regulation and due diligence too.
Research by LDF has recently discovered that nearly half of the UK’s small businesses are scared of applying for finance because of the terminology used.
With more than £26 billion owed to SMEs across the country in business finance, 33% of SME owners say they don’t understand the term CAPEX, 31.4% say they don’t ROCE and 30.4% are confused by Ebitda.
The survey shows an astonishing 57.1% of SME owners in the east of the UK are put off by financial terminology. Clearly, it’s more important than ever to build a strong, personable relationship with the right payment services provider that can help unlock new financial opportunities to grow your business.
Payment services providers can give you greater financial control
With Brexit negotiations in full flow, it’s essential that SMEs get past the language barrier to explore new financial opportunities and introduce new payment systems for growth.
With consumers turning to contactless cards and payment options on secure mobile devices to speed up the payment process, even traditional mainstream banks are introducing fintech gadgets to introduce new financial opportunities for consumers and businesses.
Keeping up to date with fintech and payment services news isn’t just necessary to keep up to date with your customers. Understanding the industry and its jargon can also open new financial avenues for your small business and accelerate its growth.
The right payment provider will see your business as passionately as you do, and work to help it grow and achieve success.
Fibonatix is a leading payment services provider dedicated to working with businesses to cut through payment jargon, regulation and compliance, and introduce streamlined payment solutions to grow your business.
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.