Cost-Effective Credit Card Processing for Small Businesses: What Makes Fibonatix Different?

If you’re a new company, start-up or small business, having a cost-effective card payment processing solution is vital for maintaining account stability and maximising profit. As a leading payment service provider for growing businesses, we understand the challenges merchants in your position face and offer a range of solutions to meet your needs. In this blog, we outline the importance of efficient and effective credit card processing for small businesses and what makes Fibonatix different from other providers.

Key payment challenges small businesses face

A common concern for small businesses is cash flow and for companies just starting out, the rush for success and a regular cash flow can lead to searching for short-term solutions and silver bullets, instead of crafting a well-planned long-term strategy.

Another key challenge for small businesses is getting the right support from a suitable payment service provider (PSP). Various factors can impact business liquidity and finding the right PSP that can open a merchant account that suits your specific needs, business type and model and provides stable payment processing is vital. The right provider can support you with building blocks and fundamentals of effective and reliable payment processing, including gaining a processing account, selecting the right payment solutions and integrations, risk assessment and management, reporting and data intelligence, etc.

What also affects most small businesses is a lack of resources. When it comes to payments, this can mean struggling to offer some of the more intricate payment options to optimise conversions and review opportunities. Plus, there are risk management considerations that can threaten the profitability of the business, such as chargebacks, fraudulent activity, payment failure and technical processing issues, all of which can lead to financial and reputational damage.

The importance of cost-effective credit card processing for small businesses

Operating cost-effective credit card payment processing for small businesses helps to ensure profitability and enable growth and expansion at the right pace. But what does this consist of? These are some of the key things you should expect from your card processing solutions:

• The ability to open a dedicated and unique merchant account for payment processing
• Integrations with multiple acquirers to maximise traffic by dedicating solutions to your target markets and business needs
• Being able to provide real-time support and services to online consumers and having a payment gateway and service provider that can support your business across a variety of channels
• Visibility over transactional trends to gain insights into your customers and industry, like approval ratio trends, to take actions that can increase revenue for your business

What makes Fibonatix different from other providers?

A good payment service provider needs to be able to help you overcome the key challenges small businesses face and deliver efficient and cost-effective debit and credit card processing solutions, but not all PSPs will be able to adequately tailor solutions to your unique business needs and requirements. So, what makes Fibonatix different from other providers?

Here are just some of the ways Fibonatix differs from the majority of PSPs on the market:

• We offer traffic management capabilities to optimise the potential volume 
• We have risk management experts, risk reduction tools and ongoing monitoring
• Our solutions are customisable and tailored to merchants’ specific needs
• You’ll get dedicated account managers and designated financial reports – see the people behind the payment solutions
• Our team will conduct an in-depth study and statistical analysis of your business to understand each parameter in the transaction process that has the potential to affect approval ratios, conversions and revenue
• There is flexibility in the settlement cycle to suit your business needs

4 key benefits of our debit and credit card processing solutions for small businesses

Beyond these differentiators from other PSPs, we’ve outlined the key benefits you can expect from our bespoke debit and credit card processing solutions for small businesses.

Experience working with small businesses and offering tailored solutions

We have vast experience working with new and small businesses, across an array of industries. Our payments experts know the challenges, risks and barriers to growth and we help merchants to overcome technical and strategic issues and implement the right payment experience and solutions to ensure stability and scalability.  

Fibonatix works with established financial partners and trusted third-party providers to deliver reliable payment infrastructure and processes. We care about your success and work closely with your team to understand your key business requirements and customer needs, so we can tailor our payment solutions to meet these needs.

Peace of mind for compliance and data security 

We take compliance and data security very seriously. We know how important maintaining compliance with changing regulations is to prevent your business from running into potential breaches that can lead to big fines and reputational damage, which can derail small businesses. 

Not only do we offer dedicated risk management support, but our payment processing solutions also are PCI DSS-compliant, GDPR-optimised and regulated by the FCA, plus we are 3D Secure V2 accredited, which enhances your data protection capabilities.

Advanced payment processing and gateway capabilities

Our payment gateway system offers advanced capabilities, such as:

• The ability to do transaction cascading – so by connecting you to another processor through our payment gateway, if a payment fails in one processor we try to approve it in another processor, based on the card schemes requirements 
• Specific services for businesses with a subscription model like seamless recurring billing and automated rebill solutions
• Chargeback dispute management directly through our gateway system

Sophisticated back office system

Fibonatix has a sophisticated back-office system, which allows merchants to manage, filter and easily analyse the traffic and transactions with real-time risk notifications. This helps you to enhance your visibility, control and decision-making.

Summary

Operating streamlined card processing is vital for smaller businesses, as every transaction counts, If margins are tight and when looking to maintain account stability before growing your operations and expanding to new markets.

Partnering with the right payment service provider can make all the difference. You need the personal touch and dedicated solutions and support that a partner like Fibonatix can provide. We offer bespoke payment solutions and affordable debit and credit card processing for small businesses. You’ll experience reliable and secure payment processing combined with risk management support, enhanced reporting and business intelligence, which arm you with the tools and techniques to thrive and grow your business. 

Get in touch with the Fibonatix team to discuss your business goals, needs and challenges or browse our range of affordable payment gateway solutions.