This referenced posting appears in PaymentsSource and serves as a brief announcement of a new payments acceptance service from Rapyd, a 2016 UK-based fintech that serves as a mobile network connecting multiple local payment networks. The newly announced service is called Rapyd Full Stack, which purports to enable businesses to accept multiple global payment types through a single API.
‘”The idea behind our full-stack offering is simple: provide companies with the capability to accept every major local payment method without having to expend resources to build complex payments infrastructure needed to power fintech and commerce applications as digital payments accelerate,” Sarel Tal, vice president for Europe, the Middle East and Africa at Rapyd, said in a Tuesday press release…”By enabling both disparate local and global payment networks, we are able to provide businesses around the world a way to tap into the growing UK market quickly, while minimizing operational costs and managing all local regulatory requirements,” Tal added.’
As e-commerce rapidly expands for both consumer and B2B scenarios globally, and platform based SDKs grow in usage, it would seem a logical thing for businesses seeking cross-border reach to have a simplified way for such expansion ambitions. One thing we do know is that people (and businesses) prefer to pay for their stuff in local currencies. Anything that an e-commerce merchant can do to support the preferred experience will likely improve their chances of closing a sale.
‘Rapyd’s integrated fintech-as-a-service platform and global payments network supports more than 900 payment methods in 100 countries, all of which would operate through the new API…The integrated payments network allows online marketplaces, fintech services, cross-border B2B companies, neo-banks, gig-economy platforms, and global retailers access to digital, physical and omni-channel payment capabilities from cards to cash, Rapyd stated in the release.’
Overview provided by Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service at Mercator Advisory Group.