Finarothe global provider of cross-border payments and also a fully licensed bank, launches its forecast in which expects to exceed 1,000 million dollars in transaction volume processed through its platform in 2022.
In the last few months, the Finaro solution has helped more than 5,000 merchants to accept more than 150 alternative payment methods around the world. The volume of transactions made through your platform has increased by 35% in just four yearsdemonstrating how Finaro’s growing list of merchants have been able to take advantage of the opportunities of their solution.
Since 2021, Finaro has partnered with groups like Mastercard, PPRO, Payter, EveryPay, PAX and Hostinger in order to contribute to the development of a contactless society and simpler and more efficient management of cross-border transactions. The success of Finaro’s solutions has led the company to increase its workforce by 15% from the beginning of 2022making the company grow in all areas and ensuring tailored advice aligned with each business need.
According to Moshe Selfin, Director of Operations and Technology at Finaro“downtime is never good. The last thing any merchant needs, especially during peak periods like seasonal holidays or flash sales events, is for their payment gateway to suffer an outage, potentially losing millions of transactions and much-needed revenue.yes”.
A ‘five nines’ service level guarantee
Finaro is committed to offering a service level guarantee or SLA of at least 99.999%, as this is a very important metric that assures e-commerce merchants that they can count on consistent and uninterrupted performance of the platform and that they will never lose a transaction.
“However, a reliable platform is only effective if it is backed by expert and knowledgeable support teams, who are always on hand with personalized advice to help resolve merchant issues.”, Says Selfin. Available 24/7 to answer queries and offer assistance, Finaro’s troubleshooting experts handle any technical issues experienced by traders immediately. “That’s what Finaro prides itself on: a super stable platform coupled with impeccable customer service. Those are the keys to our success, and our growth throughout 2022 reflects it”says the manager.
Solutions for businesses located in different markets
Since cross-border e-commerce will represent 38% of all e-commerce transactions globally in 2023the complexity of these types of payments can create challenges for merchants who are chained to platforms that are rapidly becoming outdated.
Providing global consumers with a localized payment experience can only work if the platform that powers transactions is strong and stable enough to deal with rapidly increasing usage and APM volumes coming from everywhere.
Source Gateway: reliability in any corner of the world
Launched in 2018 as the world’s most advanced globally connected payment platform, Finaro’s Source Gateway boasts 99.999% availability (equivalent to just 5 minutes of unplanned availability per year). Thanks to the intelligent routing of the Source Gateway and its connections with more than 100 banks around the world, Finaro ensures fast automatic re-routing of transactions to different processors and optimizes conversions.
Where Source Gateway also excels is in its ability to monitor not only technical performance 24 hours a day, but the characteristics of customer transactions as they pass through the platform. With an integrated set of advanced analytics that drill down into transaction data to increase the efficiency of merchant operations, Source Gateway is helping merchants generate valuable customer spend insights and identify opportunities for improve transaction acceptance and conversion rates by up to 40%.
Achiya Fried, Strategy and Commercial Directoradds that “payments are no longer simply transactions. They represent trust: the consumer trusts their merchant with their money, and the merchant trusts their payment service provider to deliver a fast and frictionless consumer experience. Any system is only as strong as its weakest link.”.
“A single weak point in the transaction process can wreak havoc on a merchant’s salesFried continues. “In today’s digital world, global e-commerce needs a payment gateway that is secure, yet flexible enough to handle the demands of rapidly changing cross-border e-commerce and multi-channel demands.”, he points out.
Since the announcement of Shift4’s acquisition of Finaro in March 2022 following a $575 million deal, the integration of the two companies is well advanced and on track to offer even more payment capabilities to customers. Finaro provides the global infrastructure and technology that will drive the international strategy of the combined entity. Closing of the deal is expected by the end of 2022.