Fintech for SMEs, what you need to know to increase your conversion


Published 21/12/2020 · 3 min read

Why a Fintech Payment Company Can Offer You Much More Than Just Online Accounting for SMEs

If you've made it this far, you're probably looking for new tools to take your small or medium-sized business a step further. You're looking for tools to keep a better control of the turnover of your SME and be able to identify new market opportunities or detect losses on time. Luckily, Fintech companies were born to provide solutions to these needs.


What is Fintech? Fintech companies are made with business like yours in mind

Fintech is the name given to technology applied to financial management and investment. In recent years it has become particularly relevant, given the need for the digitalisation of companies and the ever-increasing demand for e-commerce. But you may be wondering... What are fintech companies? What exactly do they do? Why do large companies use financial technology? And therefore, why should you consider Fintech for your SME? In order to solve all these questions, there is PayXpert, a company with an expert team of consultants in payments and Fintech in Spain.


Strategic goals of a Fintech consulting film such as PayXpert

Some of the main strategic applications of Fintech payment tools are:

  • Optimising your management control, and with it having greater control of your economic activity: monitor in real time the performance of your KPIs and your strategy.
  • Financial big data management. You will be able to use the data generated by the financial activity to develop statistics and graphs that will allow you to understand in depth the operation of your business.
  • Integrate an omnichannel payment gateway that helps you increase conversion and generate an outstanding shopping and payment experience for your customers, whatever your sales channel is
  • And much more... do you want to know what else? Keep reading.


Financial Consulting for SMEs with PayXpert: Key Concepts

Now that you know the main strategic goals of partnering with a Fintech company in the payment industry, here you can find some of the most useful concepts. Key concepts that will help you understand how PayXpert’s Fintech tools can help you better manage your finances and sell more.

  • Omnicanality: or offering a network of payment channels that will allow you to support even the most difficult customers. This is what omnicanality is all about: integrating a payment gateway that is as complete as possible and that allows you to serve online or physical customers in any format. An omnichannel and international payment gateway that will open borders for your business.
  • Local payment methods: Has it ever happened to you that, when you want to pay, you can't find your usual payment method? By providing your potential customers with their usual payment methods (e.g., WeChat Pay for Chinese customers) you will increase their trust and conversion. Don't leave out any of your potential customers, no matter what their payment preferences or country of origin are.
  • Cascading: or ability to refer a payment to the optimal processing network and avoid rejections. It has happened to everyone at least once: when paying by card, the payment processing network fails and prevents the transaction from taking place. This happens when the merchant only works with one acquirer or payment processing system. With PayXpert this doesn't happen. Thanks to our multi-acquirer network and cascading processing, if one of the processors rejects the payment, goes down or fails, the payment is automatically transferred to another acquirer. In this way, we drastically reduce the number of unsuccessful payments, helping you to increase conversion and gain satisfied customers.
  • Invisible payments: or Seamless Payment. We won’t fool ourselves: as happy as we are with the product we are going to buy, the moment of payment is rather painful. Because yes, the payment process is one of the customer's well-known pain points. Did you know that through an emotional transfer process the customer feels physical pain every time he spends       money? That's why making it easy and as convenient and brief as possible is key to generating an outstanding user experience. How does PayXpert do this? Through invisible payments. Invisible payments consist of keep the payment process to a minimum: your subscribers or regular customers will only have to press the "Buy" button to make the purchase automatically. No need to ask for personal, shipping or bank details: seamless payments manage customers' financial data securely and confidentially and make payments in a secure, fast and painless way.
  • Tokenization: maximum security in payments for you and your customers with PayXpert. Tokenization involves associating random series of numbers (or non-sensitive equivalents) with your customers' bank details. It is much more secure than encryption, which was at risk of being hacked and deciphered by hackers. In this way, you can ensure maximum confidentiality for your customers when managing their personal data. Because we know that security and trust is key for you and your customers.
  • Unified commerce: having an omnichannel payment gateway is great. If it is also secured by tokenization technology, you can assure your customers maximum security in the handling of their data. But what if we also connected all the payment channels to each other, and centralised financial data management? The result is unified commerce, or the joint management of all these elements. In this way, they complement each other: your customer makes an order online but picks it up from the physical shop; your online stock and in-store stock are updated on the spot from the same database (avoiding possible misunderstandings with the availability of a product); a telephone agent manages a sale, but he manages the payment through a payment link (Pay By Link) that is sent to the customer via email. Coordination and complementation of the different payment channels, that's what it's all about. The result is a versatile payment platform, which knows how to respond to the customer's wishes.


Fintech for SMEs. Understand your finances and increase your conversion

As payment consultants, we at PayXpert understand technology as a vehicle towards smart financial and business management. We make the technological resources of large companies available to medium and small businesses. Financial optimisation technology at your disposal. Shall we talk?

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