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.
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.
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.