Rapyd, a global B2B Fintech as a Service provider, announced on Tuesday the launch of its new single, “full-stack,” payment solution in the UK. According to Rapyd, the solution allows businesses locally and globally to access every major local payment method, such as cash, bank transfers, e-wallets, and cards, through one easy to integrate connection.
Rapyd reported that the all-in-one payment solution facilitates payments locally, and across borders for companies of any size, through one single API, reconciliation process, and contract. The company’s Full Stack Capabilities in the UK include:
- Access to UK Faster Payment and BACS
- IBAN and Virtual IBAN issuing
- Card acquiring and issuing via principal membership with Visa and MasterCard
- Cash collection and withdrawal
- eWallet and other payment account issuing
- Disbursement to bank accounts, eWallets, and other payment methods
- Access to “open banking” services through the use of Account Information Service Providers (AISP) and Payment Initiation Service Providers (PISP)
Sarel Tal, Vice President, Europe, Middle East and Africa (EMEA) at Rapyd stated that the offering is to provide companies with the capability to accept every major local payment method without “expending resources” to build complex payments infrastructures.
“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. Rapyd’s integrated Fintech as a Service platform and global payments network reduces this down to one, powerfully simple API.”
The Rapyd Global Payments Network currently supports more than 900+ payment methods in over 100 countries.