Rapyd Hyper-Local payments

Rapyd launches Hyper-Local payments solution

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Launched payment solution for global consumers

Rapyd, the global FinTech-as-a-service platform that enables businesses and consumers to pay or be paid however they choose, launched Rapyd Checkout, an industry-first, hyper-local payments solution that allows merchants to accept local payment types in 100+ countries, including cash, bank transfers, local cards, and e-wallets. Over 500 locally preferred payment types are supported.

Local payment solution

This solution allows merchants around the world to accept local payment methods consumers use every day through a single integration. Rapyd Checkout offers global businesses a clear path to quickly and easily reach new customers that buy cross border or are looking to expand the number of available payment methods offered in local markets they currently serve. The solution offers a fully merchant-branded user experience, featuring rapid deployment and fast, lightweight implementation. Rapyd Checkout manages local regulatory and compliance issues and utilizes a single settlement and reconciliation process across multiple countries to one file with local payment methods supported in 170 currencies.

Globally, cross-border transactions continue to grow, but they are limited due to a lack of support for a variety of local payment methods that consumers use every day. Checkout enables unique, in-country commerce experiences for the specific market with the ability to scale across multiple countries.

Helcio Nobre, Chief Product Officer at Rapyd stated, “Today, only 6 percent of the world’s population has a credit card, yet more than two billion consumers transact in local markets with a diverse set of payment methods like cash, bank transfers, e-wallets, and local debit cards. With Checkout, we’re enabling these same consumers to pay how they want – giving merchant’s easy access to them through the use of Rapyd’s network connections in 100+ countries.”

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West has been driving the business world owing to its developed economies. The leading part of the world is straining to sustain its dominance. However, the other parts of the world, especially Asia Pacific region have been displaying escalating growth in terms of business and technological advancements.

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