Rapyd partners with Visa to expand global business operations
Rapyd, a London-based B2B payments provider, has teamed up with Visa to support its worldwide growth plans. The pair plan to offer fintech and payment services where both firms see opportunities to help businesses expand their core offerings with local and cross-border market solutions. Rapyd will also join Visa’s Fintech Fast Track programmes as an enablement partner, to drive its speed to market for fintechs through a variety of Visa payment solutions. Rapyd has become a Visa issuer in the UK and says it plans to expand its issuing and acquiring footprint in other regions over time.
Rapyd’s unified cloud-based platform is designed to help businesses integrate payment capabilities into any commerce application. e-commerce merchants, gig economy platforms, financial institutions, and technology providers are all looking to enable highly localised customer experiences around the world. Rapyd’s solution to this is to deliver a full stack of fintech services through a single integration.
For example, as part of this relationship with Visa, Rapyd can instantly issue a virtual Visa card that can be used by a gig-economy worker in Latin America to purchase goods on behalf of the platform, or disburse funds to a worker on a Visa card in Asia-Pacific, all from a single integration on the Rapyd platform.
“As businesses look for global expansion opportunities they must contend with the complexity of integrating local and cross-border payment capabilities, including collections, disbursements, and card-based solutions” said Sarel Tal, vice president, EMEA at Rapyd. “Now Rapyd can leverage Visa’s offerings – Visa Direct for real-time funds transfers, Visa Token Services for secure digital payments, and Visa’s issuance capabilities – to enhance Rapyd’s core issuing and acquiring services, unlocking simple, relevant payment experiences for these businesses globally”.