PAYMENTS

Rapyd Unveils "B2B Payments Infrastructure of the Future" to Support Global B2B Commerce and Trade Platforms

Rapyd | November 10, 2021

Rapyd, a global Fintech as a Service company, today announced new enhancements to its industry-leading Disburse and Collect Platforms, delivering new end-to-end infrastructure for B2B firms to pay suppliers and sellers while getting paid by customers around the world more efficiently.

Rapyd has extended its Disburse platform capabilities across 200+ countries, enabling organizations to make payouts in leading global trade currencies including USD, EUR, GBP, and SGD anywhere in the world, along with leading regional and local currencies. In addition, Rapyd clients can now disburse with Real-Time Payments (RTP) in 50+ countries across the globe providing more control and visibility over payout timing.

To further its B2B payment acceptance offering, Rapyd clients can now also use Virtual Accounts to accept payments in Singapore and Europe to pay in their locally preferred currency.

The pandemic accelerated the need of every business large and small to participate in digital ecosystems for trade, procurement, and labor, whether on a gig-platform to find and pay workers, a B2B trade platform for supplies, or a cross-border B2B eCommerce marketplace to sell globally. We can now serve cross-border B2B firms with the most flexible, end-to-end payments solution anywhere. Rapyd's platform is unique in that we can serve both Enterprises and SMEs, process local and cross-border large ticket transactions typical of global trade, along with higher velocity, lower ticket transaction sizes common in consumer and SME payments."

Joel Yarbrough, Managing Director of Rapyd Ventures and Vice President of Asia Pacific.

B2B eCommerce on the Web and via marketplaces already generates nearly 4X as much revenue as its consumer-facing counterpart globally, and B2B eCommerce has continued growing during the pandemic. The global B2B eCommerce market size had already been projected to reach $20.9 trillion by 2027, expanding at a 17.5% Compound Annual Growth Rate (CAGR) from 2020 to 2027, according to Grand View Research[1].

With Rapyd, B2B buyers and sellers not only have the most payment and payout methods in Asia and across the world than any other provider, but can now leverage a single, unified cloud-based solution to service the broadest array of countries, currencies, business types, and transaction sizes.

About Rapyd
Rapyd is the fastest way to power local payments anywhere in the world, enabling companies across the globe to access markets quicker than ever before. By utilizing Rapyd's unparalleled payments network and fintech as a service platform, businesses and consumers can engage in local and cross-border transactions in any market. The Rapyd platform is unifying fragmented payment systems worldwide by bringing together 900-plus payment methods in over 100 countries. Rapyd's investors include Stripe, General Catalyst, Oak HC/FT, Coatue, Tiger Global, Durable Capital, Target Global, Fidelity Management and Research Company, Altimeter Capital, BlackRock Funds and Tal Capital.

Spotlight

On May 7th, Canada 2020 convened a five-hour policy lab on Open Banking – an idea proposed in Budget 2018 by Finance Minister Bill Morneau. Open Banking has the potential to radically transform the banking sector by increasing consumers’ access to their financial data across platforms and institutions. The Policy Lab brought together 41 stakeholders and experts from government, academia, and industry to share information and resources on the topic of Open Banking. The discussion was held in camera and participants collaboratively designed a set of resolutions. A lively discussion and debate took place to determine which of the resolutions had a broad consensus of support. For resolutions that lacked a broad consensus, Canada 2020 noted these as issues to resolve and summarized the debate that took place in the room.


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PAYMENTS

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Paymerang | December 20, 2021

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PAYMENTS

Tyler Technologies Extends Contract for Digital Government and Payment Solutions in the State of Mississippi

Tyler Technologies | March 31, 2022

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CORE BANKING

Mascoma Bank Selects Alkami as its Digital Banking Platform Partner

Alkami | April 13, 2022

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FUNDING

Mastercard to Add to Services Momentum with Acquisition of Dynamic Yield, McDonald’s Cutting-Edge Personalization Platform

Mastercard | December 23, 2021

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It’s a reality that more brands are deploying and more consumers expect. With Dynamic Yield’s expertise and our scale and relationships, we’ll be able to bring the connections between the end consumer and our customers to new heights.” Raj Seshadri, President of Data & Services, Mastercard. Mastercard plays a central role in enabling trusted digital commerce experiences, connecting billions of consumers with millions of merchants and banks around the world safely and securely. With Dynamic Yield’s technology, Mastercard will be able to help its customers and partners meet consumers’ growing demand for a more personalized experience, no matter where they shop or do business. The creation of a unified consumer engagement and loyalty hub will further extend the value of Mastercard’s network to deliver digital services for payments and beyond. 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Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. About McDonald’s McDonald’s is the world’s leading global foodservice retailer with nearly 40,000 locations in over 100 countries. 93% of McDonald’s restaurants worldwide are owned and operated by independent local business owners. About Dynamic Yield Dynamic Yield helps enterprise brands quickly deliver and test personalized, optimized, and synchronized digital customer interactions. Marketing, Product, Development, and eCommerce teams from more than 400 global brands are using Dynamic Yield’s Experience Optimization platform as the technology layer that works alongside existing CMS, Commerce, or ESP solutions to iterate faster and algorithmically match content, products, and offers to each individual for the acceleration of long-term business value.

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Spotlight

On May 7th, Canada 2020 convened a five-hour policy lab on Open Banking – an idea proposed in Budget 2018 by Finance Minister Bill Morneau. Open Banking has the potential to radically transform the banking sector by increasing consumers’ access to their financial data across platforms and institutions. The Policy Lab brought together 41 stakeholders and experts from government, academia, and industry to share information and resources on the topic of Open Banking. The discussion was held in camera and participants collaboratively designed a set of resolutions. A lively discussion and debate took place to determine which of the resolutions had a broad consensus of support. For resolutions that lacked a broad consensus, Canada 2020 noted these as issues to resolve and summarized the debate that took place in the room.

Resources