Fena

What Is Fena?

Fena is a cloud-based open banking payments software built for businesses that want to accept money directly into their bank account instead of through card networks. Businesses can collect payments through checkout, invoices, payment links, and QR codes, with funds settling in seconds rather than days.

The software also supports variable recurring payments for subscription billing, giving e-commerce teams a lower-cost, faster-settling alternative to traditional card processing for both one-off and repeat transactions.

What Is Fena Best For?

The platform is known well for its ‘Open Banking Payments’ capability, which lets e-commerce businesses accept account-to-account transfers directly into their bank accounts with fast settlement and lower processing costs than card payments.

How Much Does Fena Cost?

Fena pricing starts from £4.99 + VAT/month for standard merchants with unlimited transactions, while high-risk or overseas businesses receive tailored rates, and businesses processing over £1,000,000 a month can access bespoke pricing.

Following are the additional estimated costs you need to consider before planning:

• High-Volume Transaction Pricing: £100–£1,000+/month – Estimated for higher transaction volumes (approximately $134–$1,336)
• High-Risk Or Overseas Business Pricing: £50–£500+/month – Estimated for businesses requiring tailored risk-based rates (approximately $67–$668)
• Bespoke Payment Solution: £500–£5,000+ one-time – Estimated for customized payment workflows and configurations (approximately $668–$6,680)
• Custom Integration And Development: £500–£3,000 one-time – Estimated for non-standard API or integration work (approximately $668–$4,008)

Disclaimer: The pricing is subject to change.

Fena Integrations

Fena supports integration with multiple systems and platforms, such as:

• Shopify software
• WooCommerce
• BigCommerce software
• PrestaShop
• Magento

How Does Fena Work?

Here is how you can get started with Fena once your account is set up:

• Sign in to your Fena account and open the dashboard to view live transaction volume and success rates
• Connect a checkout plugin, payment link or the Fena Terminal app to a sales channel
• Present customers with an instant bank transfer option at checkout or in person
• Redirect the customer securely to their own banking app to authorize the payment
• Receive funds directly into the linked bank account within seconds
• Track every payment, refund and API key from the payment dashboard
• Set up variable recurring payments or bulk payout runs for repeat transactions

Who Is Fena For?

Fena software is suitable for a wide range of industries and business sectors, including:

• E-commerce
• Financial services
• I-gaming
• Crypto platforms
• Car dealerships
• Fintech
• EV charging

Fena Use Cases

Based on our analysis of Fena's current capabilities, we have identified key scenarios where this software is a good fit for e-commerce and payment-focused businesses:

1. Field Sales Teams Collecting Payments Without Card Hardware

Car dealerships and field sales teams use the Fena Terminal app to take payment via QR code rather than carrying a card machine. A customer scans the code, approves the transfer in their banking app, and the transaction settles almost immediately. This suits businesses accepting larger one-off payments away from a fixed till.

2. Subscription Sellers Automating Variable Charges

Subscription and membership-based e-commerce businesses use variable recurring payments to move money between a customer's own accounts on a recurring basis without relying on card-on-file billing. Because the amount can vary between cycles, it fits services with fluctuating costs better than a fixed standing order. Customers retain visibility and control over the limits they've set.

3. Finance Teams Consolidating Payouts And Reconciliation

Businesses paying multiple suppliers or affiliates on a schedule use bulk payment runs to send several transfers in one action rather than processing them individually. The Payment Dashboard then gives finance teams a single view of transaction status, refunds and API activity, reducing manual reconciliation work across separate banking portals.

Is Fena Right For You?

Looking for a way to get paid faster without absorbing high card processing fees? Fena lets businesses accept payments directly into their bank accounts through open banking, with average settlement in three seconds. As an FCA-authorized payment Institution operating under PSD2, Fena provides regulated payment infrastructure for businesses accepting digital payments.

Still not sure if the software is right for you? Contact us at (661) 384-7070, and we will help you make the best decision regarding Fena features and more.