Why will my merchants want to use Fena?

Created by Isaac Harper, Modified on Tue, 19 Sep 2023 at 07:45 PM by Isaac Harper

Fena is an FCA Registered Payments Institution, focussed on providing Open Banking payments. Open banking payments are payments made directly between two bank accounts, and the money is never touched by us or other intermediaries. Fena’s Open Banking payments provides a number of benefits over traditional payment methods:

  • Cost - Open Banking payments are cheaper than card payments
  • Instant settlement - payments are made using the Faster Payments Network, so money is deposited into your account instantly
  • Secure - Bank level security, and your customers never need to remember or share their card details
  • Easy - your customers just need to select their bank account, scan the QR code and then authorise the payment from their banking app. No manual input required

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