Finaro, the global cross-border payment provider and fully licensed bank making complex payments brilliantly simple, has announced that it is on track to surpass over $1 billion of transaction volume processed in 2022, with its gateway platform incentivising new commercial partnerships and rapid merchant uptake of alternative payment methods (APMs). This transaction volume going through its gateway which increased by 35% in just four years, illustrates how Finaro’s increasing roster of merchants has been able to tap into new customer bases and open up access to APMs.

Launched in 2018 as the world’s most advanced, all-in-one globally connected payments platform, Finaro’s Source Gateway, with its unmatched 99.999% service level availability (equating to just 5 minutes of unplanned availability per year), sets the benchmark for uptime, all the time. Thanks to the gateway’s smart routing and connections to more than 100 banks globally, Finaro ensures fast automatic rerouting of payments to different processors and optimizes conversions. Combining this acquiring and processing power, with its fast-growing array of 150 cards and APMs from all over the world, Finaro continues to expand on its capabilities that enable merchants to process payments from anywhere and everywhere.

At the same time, the success of Finaro’s solutions has led to the company increasing its headcount by 15% since the beginning of 2022, growing the company across the board and making sure existing and new merchants are fully supported with quick onboarding, approval rate optimisation and tailored advice aligned to individual business needs.

According to Moshe Selfin, Chief Operations Officer and Chief Technology Officer: “Downtime is never a good time. 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, losing out on potentially millions of transactions and revenue. That’s why with our proven track record, we commit to a 99.999% SLA, a hugely important metric which reassures e-commerce merchants that their platform performance will remain uninterrupted and merchants will never miss a transaction.

“In today’s world, merchants must think towards multi-dimensional commerce: creating a business model that’s not solely digital or physical, but that weaves them both seamlessly together, and simultaneously gives customers what they want, when they want it, and wherever they are. And for that to be a reality, the payments experience – especially robust technology and the right mix of payment methods – is a critical element.”

With cross-border e-commerce set to account for 38% of all e-commerce transactions globally by 2023, the complexity of such payments increases as global consumers still require a localized payment experience. Finaro’s platform is strong and stable enough to cope with fast-rising APM usage and powering transaction volumes coming from all corners of the globe, making it ideal for merchants looking to build their business internationally.

Achiya Fried, Chief Commercial and Strategy Officer, adds: “Payments are no longer simply just about transactions. They represent trust - the consumer trusting the merchant with their money, and the merchant trusting their payment service provider to deliver a fast, frictionless experience to the consumer. In today’s digital world, global e-commerce relies on payments that are secure and flexible enough to match the fast-changing demands of cross-border e-commerce.”

“Whether it’s a brick-and-mortar store, or an online merchant, having a broad range of payment methods to accept revenue is a no-brainer. That’s why we place so much importance on ensuring that offering is broad, and we can consistently deliver an ever-increasing range of local payment methods, ensuring our merchants and their customers around the globe are covered.”

Where Finaro’s gateway has an additional advantage over other payment platforms is its ability to monitor not just technical performance 24/7 but the characteristics of customer transactions as they pass through the platform. With an integrated suite of advanced analytics functions that drill transaction data into down essential details, Finaro’s gateway is helping to generate valuable customer spending insights for merchants and identify opportunities to improve transaction acceptance and conversion rates by as much as 40%.

Since the announcement of Finaro’s acquisition by Shift4 in March 2022 in a monumental $575 million deal, the future looks bright for both companies who are on track to deliver even more outstanding payment capabilities. Finaro brings Shift4 their global cutting-edge e-commerce infrastructure and technology that will drive Shift4’s global ambitions, including an expansion of US acquiring options, backed by over 425 technology integrations, and enabling access to global APMS for over 200,000 merchants worldwide.