Rapyd introduces All-In-One Payment integrated solution in Mexico

Source: IBS Intelligence 2020-07-10

Eric Rosenthal, Vice President and Managing Director for the Americas at Rapyd

Rapyd, a global Fintech as a Service company has announced the launch of a single “full-stack” integrated local payment solution in Mexico. The launch enables regional and global companies to access every local payment method through a convenient API, contract, and reconciliation service.

Rapyd along with its partnership with major Mexican payment providers such as Banregio, RedEfectiva, Cacao Paycard, among others, through its new offerings is providing businesses with the ability to accept major local payment methods such as cash, bank transfers, and cards through its all-in-one platform. Besides, Rapyd is enabling businesses to disburse funds through bank transfers, cards, and push to cards in Mexico and globally.

“Mexico is one of Latin America’s high-growth markets. Our full-stack launch will contribute greatly to Mexico’s growing economy by helping local businesses digitize the acceptance of all payment methods in e-commerce marketplaces, digital platforms, gig economy, lending companies, neo-banks, and others. Our platform also enables global businesses to accept every major local payment method through one, powerful and simple API integration, removing the complexities of fragmented payment infrastructures and allowing global companies to quickly service the growing Mexican market,” said Eric Rosenthal, Vice President and Managing Director for the Americas at Rapyd.

Mexico, with an annual online shopping growth rate near 30% and a B2C market worth $22.6 B is a market ripe for massive online payment growth, according to J.P. Morgan Global Payment Trends. To overcome the unprecedented impacts of COVID-19, Mexican consumers are transitioning to digital payments or even cash transactions that are used in online payment scenarios.

The Rapyd platform makes digital and cash transactions accessible to businesses and consumers. Its integrated payments network provides the ability to integrate complex local payment systems all at once quickly, which otherwise will take time to integrate individually. The FinTech’s all-in-one platform allows businesses to rapidly expand into other high growth markets in Latin America, APAC, and EMEA almost instantly.

Rapyd’s Full Stack Capabilities in Mexico include:

Various payment methods like 24/7 real-time bank transfer, voucher and OTC cash payments, local issued credit and debit cards via Visa and Mastercard, bill and airtime payments, e-Gift cards for providers such as Netflix, Xbox, GooglePlay, Spotify, and others and Cardless ATM withdrawals,
Disbursement methods like 24/7 real-time bank transfers for all banks Including recipient bank account validation,
Card issuing including local wallet and companion cards domestically issued for corporates and individuals and
Digital Wallets and payment Accounts issuing of stored valued white-label wallets and payment accounts

The Rapyd Global Payments Network now supports over 900 payment methods in more than 100 countries. By launching the full-stack payment services in Mexico, the firm is aiming to bring together the disparate and fragmented local payment capabilities into a single platform, eliminating the need for businesses to create ad hoc payment programs and streamlining their payment capabilities

“At Banregio the success of our customers is our mission. We work every day to offer innovative financial solutions and strive to be part of the growth of businesses in Mexico. Rapyd is one of our loyal partners and we are proud of this launch. We look forward to being a part of Rapyd’s solution as they aim to increase the ability for Mexican consumers to access the global ecommerce market and for businesses to significantly improve user experience in Mexico, throughout Latin America and around the world,” said Pedro Valenzuela, Head of Marketing at Banregio.

Founded in 2016, Rapyd is a trading name of CashDash UK Limited. The company offers Fintech-as-a-Service platform with various local payment methods and services. Its solution portfolio includes collect, disburse, wallet and issuing. It recently, the company waived off FX & Processing fees to help consumers receive payments in the USA, Brazil and Mexico.

Rapyd

Global Fintech

Rapyd introduces All-In-One Payment integrated solution in Mexico

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