People, Not Robots: That’s What Makes the Difference

December 9, 2020

This is the second in a series of posts and interviews featuring business owners who count on Fibonatix to power their businesses.

When M., the CEO of Forex Companies Group (FCG)*, wanted to launch a new brand within his business group, Fibonatix was one of his early calls. But he didn’t contact Fibonatix about kicking off their work together and setting up the business’ payment processing capabilities. Rather, the seed for the new business had just been planted, and he knew that the team at Fibonatix would be able to offer expertise, guidance, and generally friendly and helpful thoughts—an open conversation about what’s possible and what makes the most sense.

FCG was founded in 2014 and has grown to comprise a variety of different subsidiary companies throughout the forex industry. Today, the company employs over 450 employees around the world.

Despite working with a wide range of PSPs, in 2016, M. and his team opted to make Fibonatix their primary one. The key reason for that, M. says, is the high-quality people at Fibonatix. While automation has penetrated the ways we work and communicate, introducing important new capabilities in almost all fields, for M., the human element remains critical. “I don’t think enough merchants value the people behind it all…”

“When you have people who really care, who aren’t robots and take responsibility and initiative… it’s priceless.”

Having people who care in a company, with initiative is priceless, compared to robots.

Early on in the two companies’ partnership, M. recalls getting a call from Fibonatix after one of his brand’s account was shut down, informing him that Fibonatix had managed to secure the $200,000 rolling reserve from the acquirer—no tricks or chasing involved. It’s a call he’s never forgotten. It was at that moment that Fibonatix’s sense of customer service, expertise, and integrity became clear, and it only deepened from there.

Fibonatix had managed to secure the $200,000 rolling reserve from the acquirer

That combination has given M. the confidence to launch new businesses and verticals with Fibonatix time and again. “Fibonatix always manages to find a unique solution, a unique offering or acquirer that the competitors don’t,” M. shares, citing the quality, stability, high ratio of success in chargeback disputes, and sense of security and confidence that he has encountered in working with Fibonatix.

Payment service provider chart

Indeed, even before FCG was ready to launch the new business, Fibonatix was ready with the right acquirer and solution in mind. And once it launched, it achieved steady monthly revenues of approximately $1.5 million almost immediately, with 60% coming from credit card transactions.

When it comes to launching new merchants and growing existing ones, it’s a no-brainer for M.: “I haven’t encountered the quality or integrity—both of people and solutions—that I’ve seen at Fibonatix, anywhere else.”

*For privacy, company and CEO’s names have been changed