Rapyd, a global fintech platform-as-a service platform, today announced that it has launched Virtual AccountsThis product is vital for businesses as it allows them to expand internationally while also supporting local payments. ThisNew offering allows organizations around the world to securely and reliably receive local bank transfers across more than 40 countries in more that 25 currencies, including the US and UK.
TheLaunch of Virtual AccountsThis comes at an important time for businesses looking for payment support to enable them to tap intoThe global marketplace While93% of businesses report cross-border commerceIn 2022, almost 4 in 10 respondents say local payment methods support is a top priority for their organizations.
ActingLocal bank accounts that don’t have to pay transaction fees or incur additional operational costs. Virtual AccountsAllow for simple, familiar, and automatic global payments. Before Virtual AccountsBusinesses would have to rely upon expensive vendors. cross-borderWire transfers to a single account can be made and managed separately in each market. SeveralAccounts can lead to higher administration costs, reconciliation errors, and more complex operations. NowBusinesses can accept payments from other countries easily, which allows them to streamline operations and offer customers around the world more local payment options.
KadmosThe global salary payment platform enables millions of migrants to receive their salaries, trusts and it revolutionizes the experience. Rapyd Virtual AccountsTo make international salaries more easily payable. PoweredBy Virtual Accounts, KadmosIt makes it possible for companies to seamlessly pay international wages across the globe and for employees to remit their earnings worldwide.
Sasha Makarovych, Co-FounderOf Kadmos comments: “WhenIt is difficult to get employees paid on time and in their local currencies. It is also very administrative heavy, inefficient, expensive, and takes many days to process. ByPartnering with Rapyd, KadmosOur clients are able to experience a completely new method of paying their international staff. ThanksTo Virtual AccountsIt’s faster, digital, cheaper and helps employers pay more efficiently for the more than 180,000,000 global migrant workers.
KontempoThe embedded payment solution for B2B electronic commerce.commerceBased in Mexico CityUses Rapyd’sA range of offerings, including Virtual AccountsTo help them achieve their building mission Latin America’s go-to B2B Buy-Now-Pay Later solution.
Matthew Meehan, Co-FounderCEO Kontempo comments: “PartneringWith RapydImplementing and monitoring Virtual Accountshas been instrumental to the growth of Kontempo’sWe are looking to expand our BNPL offering to all markets as we grow our business Latin America. With Virtual AccountsWe offer small business customers flexible repayment options and merchant partners a faster, more risk-free way for them to get paid. This can help boost sales by up to 50%.
Khyati Soparkar, HeadOf Global Product Marketingat Rapyd comments: “OneOne of the main factors that prevent businesses from expanding internationally and reaching the next level in growth is a lack of infrastructure to support local payment. Virtual AccountsBusinesses can grow internationally with confidence knowing that they have a trusted payment solution. NowIt’s now easier than ever to reach more customers, currencies, and countries – all you need is one Rapyd account.”
Virtual AccountsBusinesses can be set-up to meet their growing needs. Virtual Accountsas necessary to collect and organize funds across currencies, countries, and customer requirements. Using Rapyd’sSingle API Virtual AccountsCan be used with Rapyd Collect, Rapyd DisburseAnd Rapyd WalletLocal and regional leaders cross-borderAcceptance and distribution of payments
Rapyd CollectAllows businesses to accept payment types from more than 100 countries securely and easily With Virtual AccountsBusinesses can also add local bank transfer options to their offering, which makes it easier to reach customers from all over the world.
Virtual AccountsAdds to Rapyd CollectCapabilities for payment collection that include Hosted Checkout, Checkout Toolkit, Virtual Terminal, Global Invoicing, and third party plugins such as WixWoo!Commerce.
Using Rapyd DisburseBusinesses can send funds to more than 100 countries using local preferred payment methods such as ewallets or banks, cards, cash, and cards.
TogetherWith Virtual AccountsClients can send a payout one way or to multiple recipients all over the world.
Virtual AccountsCan be added to Rapyd WalletThe underlying platform is called. It acts as a financial hub by supporting a range services like bill pay and cash withdrawal and load.
BusinessesYou can have as many Virtual AccountsYou can assign them by country or currency to customers, but you only need one. Rapyd Wallet.