Rapyd will provide the payment stack and global infrastructure supported by their Collect, Disburse and Wallet platforms, enabling nate to develop additional services, deploy their BNPL capabilities and expand internationally.
Digital commerce accounted for nearly 24% of all retail sales in the first half of 2021 with consumers continuing to embrace online shopping according to industry research from DigitalCommerce3601. nate removes the friction from the online buying process by leveraging artificial intelligence and machine learning to support an invisible checkout experience. A consumer simply sends a product they wish to purchase, and the app fills out payment and shipping information while the customer stays in the shopping flow.
By partnering with Rapyd, nate can grow globally with consumers in more than 100 countries and will be able to eventually checkout with up to 900 different local payment methods including local debit cards, ewallets, bank transfers and even cash.
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