In episode 74 of The Payments Show Podcast, I spoke to Kevin Ludford and Abrie Greeff, who are the Co-founders of fumopay.
fumopay is a, Open Banking payment solution that enables account-to-account transactions. It provides a faster, cheaper, and safer alternative to traditional card payments for both businesses and consumers.
Watch the Video version here: https://youtu.be/SlAscZXLB8w
Summary of topics discussed:
[00:00] - Introduction
[02:17] - Start
[03:06] - Origin and Growth of Open Banking
[06:00] - Fumo Social App Concept
[08:18] - Challenges with Bill Splitting Apps and Startup Banks
[09:34] - Benefits for Businesses
[10:08] - Increasing Account to Account (A2A) Payment Adoption
[14:51] - Increasing Cash Flow and Xero Integration
[17:38] - Pay By Bank When Payment Terminals Fail
[19:17] - Which Type of Customer Uses Pay By Bank?
[22:01] - fumpay's Market Position
[26:00] - Influencing Consumers: e.g. Instant Refunds
[28:37] - Specific Use Cases Are The Key
[30:09] - Markets Served by fumopay
[33:57] - Get Started with fumopay
[36:16] - Variable Recurring Payments and Sweeping
And much more…
- Recorded on 13 Jun 2023
- Host: Satwant Phull, Founder of Digital Money Lab
- Guest: Kevin Ludford & Abrie Greeff, Co-founders, fumopay.
- Get in touch with Satwant: digitalmoneylab.com
- fumopay: fumopay.com | @fumopay