Payment Solutions to Expand Your International Business: Recommendations from Valeria Vahorovska

UK has become a country where cashless payments are rapidly eclipsing cash. People are increasingly buying goods and tickets via the Internet, and in large cities, you can easily pay for travel with a bank card. The development of a culture of cashless payments has increased comfort and security. Fintech expert Valeria Vahorovska described the current situation in the country and modern opportunities for citizens and local authorities.

The emergence of a cashless society has impacted public transportation. The managing partner of the payment system for accepting Fondy cards, Valeria Vahorovska, noted the following in her material.

Buying tickets online makes life more comfortable not only for ordinary UK citizens. Large infrastructure projects can be created with the use of the collected data. Valeria Vahorovska pointed out a number of new features, including traffic forecasting in a particular direction and the design of new roads.

One of the main advantages of cashless payments for local authorities is the possibility to stop the outflow of funds past the budget. This is due to the use of electronic deposits in public transport, which will create a correct system for accounting for money and passengers. Valeria Vahorovska noted that correct accounting will just make it possible to invest more money in local infrastructure.

The use of cashless payments is a good way to ensure the high security of citizens. A properly built structure automatically minimizes the risk of losing money. Valeria Vahorovska pointed to the fact that transactions are easy to challenge, a bank card can be blocked with one call, and a fraudster can be quickly tracked down.

Cross-border payments

During the pandemic, the global payments market has changed more than in the last decade. And this process is not slowing down. Trades conducted with bank cards outside of the resident’s home country are referred to as cross-border transactions. First of all, they are associated with e-commerce: the ability to make fund transfers continues to blur the lines between buyers and sellers.

More recently, the main characteristics of global payments were high cost, low speed, limited access, and lack of transparency. Fondy is an electronic transfer solution for businesses for entrepreneurs from all over the world. The platform helps eCommerce, SaaS, marketplaces, platforms, HoReCa, EdTech, charities, and others grow locally and globally with a single integration. Modern financial technologies allow you to set up payment acceptance as the business owner needs and increase sales. Customers also experience comfort when paying the check, which fosters loyalty. Get the most recent information on the evolution of a cashless system and Fondy here.

Wherever a company interacts with clients, a universal payment system may accept money. At the same time, the development allows buyers to pay where it is convenient for them. The platform gives you the opportunity to be present online and offline, selling on the site and without it. You can use the system for both local and international sales. It costs nothing to get started with Fondy.