PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Payment Rails Launches Global Payout API to Revolutionize Business Payments to 220+ countries

PaymentsJournal by PaymentsJournal
December 7, 2017
in Press Releases
0
Payment Rails

Payment Rails

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
API-first payout platform world’s first to provide both SMBs and larger enterprises, via a single integration, access to global banking, international ACH, faster payment systems and real-time networks 

 Montreal, QC – December 7, 2017 –  Payment Rails, an API-first payout platform, today announced the official launch of the first truly global payout platform for sending payments to 220+ countries in 135+ currencies. Through a single simplified integration, businesses and platforms can now access global banking, payment and real-time networks around the world in a fully compliant and regulated environment. The Payment Rails platform has no setup fees, monthly minimums or long-term contracts.

“Payment Rails is re-wiring how business payments are sent around the world,” said Tim Nixon, co-founder and CEO. “With our API, businesses can now seamlessly send payments to over 220 countries for as little as $1 per transaction, with live foreign exchange rates, and delivering funds direct to bank accounts as opposed to a recipient’s e-wallet. Our clients are looking for an easy to use payout platform where they own the full customer relationship and UX instead of handing off their customers to an e-wallet removed from their core payment process.”

Payment Rails’ white-label payment infrastructure allows businesses to effectively run their own in-house global payout solution without needing to build or manage it themselves, allowing them to focus on their core business. Key features of the white-label payout platform include:

  • Global bank account validation
  • Recipient Widget for capturing bank account details
  • Automated white-label emails to recipients
  • White-label recipient bank statement descriptors
  • Automated returned payment handling

“Businesses are simply looking for more from their banks and are not getting the additional services they need to automate their processes,” states Ferhan Patel, Payment Rails’ co-founder and Chief Product Officer. Many of our clients are migrating off their core banks’ treasury service and leveraging Payment Rails’ payout platform because we offer automation and REST API connectivity. Our platform provides the same level of treasury services you’d expect from your bank, but with a fintech level focus on the user experience. We also offer a disruptive way to send international payments, by bypassing costly bank wires, offering access to local banking and real-time payment networks, which can significantly reduce transactional costs by up to 80%.”

With an API-first approach, Payment Rails’ payout infrastructure enables developers to seamlessly add international payments to their platform, website or apps, giving them access to global markets.

Payment Rails, which launched into public beta in earlier 2017, has been working with businesses with diverse and complex payout requirements, including online marketplaces, share economy, affiliate networks and influencer platforms.

“Influencer marketing is the very definition of what a global business is,” explains Vivien Garnès, co-founder and CEO at Upfluence. “Issuing monthly payouts to literally every corner of the globe was costing us a disproportionate amount of time and money. When searching for an effective global payout solution, we looked at some of the other platforms out there, but because their solutions were limited to a few currencies or only a handful of countries, that meant that we would still need to rely on costly bank wires and third-party e-wallets for the rest. And then we found Payment Rails. Since we’ve integrated, we have freed up the time and money previously spent on payouts to focus on our core business. 2018 will be a banner year for us as we can now scale-up faster, thanks to the Payment Rails team.”

Payment Rails’ infrastructure leverages Blockchain and Ripple to optimize treasury and liquidity management, and allows businesses to send payments domestically and internationally through real-time networks, faster payment systems, international ACH, and global banking networks.  The platform

utilizes AI and machine learning to optimize payment routing based on speed, cost and FX rates. Payment Rails also incorporates AI and fuzzy logic for AML watchlist screening, and machine learning for fraud detection to deliver one of the world’s most advanced payment platforms for businesses.

To learn how your business can simply your payout process, contact Payment Rails for a demo: https://www.paymentrails.com

About Payment Rails

Payment Rails is the next-generation API-first payouts platform that enables businesses to send payments to any individual or company in over 220 countries, in any currency and to any payment method. Through its powerful API, businesses can access Payment Rails’ global banking, international ACH, faster payment systems and real-time networks, on a pay-as-you-go basis with no setup costs.

Payment Rails simplifies global mass payouts for online marketplaces, on-demand and share economy platforms, influencer platforms, ad networks, affiliate platforms, app stores, and growing businesses with international payout needs. For more information, visit www.paymentrails.com, read our blog, and follow us on Twitter and Facebook

Tags: APIPayment Rails
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023
    cross-border payments

    How to Implement Effective and Innovative Cross-Border Payment Strategies

    January 24, 2023
    credit card experiences, digital payments, b2b payments

    Will Consumer-to-Business Payment Trends Drive B2B Global Growth in 2023?

    January 23, 2023
    Faster Payments Faster Identity Verification, connected car, payments

    2023 Predictions: Authentication, Digital Identity, and In-Car Payments

    January 20, 2023
    bank data

    Interconnectivity, Data Sharing, and Security Are Vital for Banks to Thrive

    January 19, 2023
    B2B Payments, cryptocurrency

    Crypto as a Practical Solution to B2B Payments

    January 18, 2023
    AR, accounts receivable

    Digitizing AR Would Address One of Executives’ Biggest Concerns About Economic Instability

    January 17, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Brighterion eBook - The power of today’s market-ready AI to reduce transaction fraud