Following this collaboration, businesses and merchants will be given the possibility to deliver seamless installment payments to their customers with access to Rapyd’s extensive global payments network.
This will bring Splitit’s Installments-as-a-Service platform to Rapyd’s network of traders and marketplaces around the world, making it convenient and safer for clients and companies to adopt the card-based installment platform. Furthermore, this will offer users a quick checkout experience and a high approval rate.
Through its Installment-as-a-Service platform, Splitit aims to improve the Buy Now, Pay Later services and technology. It focuses on solving the challenges and difficulties that businesses face with legacy BNPL, including the declining conversion funnel, lack of control of the customer experience, as well as the busy and slow process of checkout while offering merchants the capability to retain clients, increase average order value, and drive conversion.
The white-label BNPL represents an easy installment option for traders to adopt, incorporate, and operate on a global scale while prioritising the delivery of an uncluttered, simplified, secure, and efficient experience embedded into their already existing purchase flow. Splitit unlocks existing client credit on the payment cards with no interest, enabling them to pay for their purchases in a preferred installment over time. Any customer that has available credit on their credit card is pre-qualified automatically to use Splitit for the value of their own available credit.
The partnership between Spliit and Rapyd brings multiple benefits to their customers, such as: accepting payments from over 100 countries and sending pay-out to over 190 countries, operating locally while expanding to a global reach by accepting over 50 local e-wallets and getting paid into virtual accounts in over 40 countries, utilising more pay-out options and accepting more payments methods (bank transfers, redirects, cards, e-wallets, cash, and virtual payments), as well as sending pay-outs using banks, cards, e-wallets, and cash across multiple markets and currencies with an improved overall settlement time.
Rapyd is a fintech company that offers its clients and customers multiple services and solutions, such as its payments network and fintech platform, which were designed to provide businesses the needed tools to make it easier and more efficient to get paid by their local and international users.
In November 2022, the company announced the launch of a multi-currency Treasury Solution for international payments operations optimisation in the APAC region.
Treasury Solution represented a collection of cash management features and solutions, and it was believed to help with enhancing the financial relationships of companies that were engaged in cross-border trade. While using the service, businesses were enabled to use instant bank transfers funds received through local Real Time Payments systems, such as PromptPay, PayNow, and FAST, as well as other local collection methods that included cards and e-wallets, and many more.
Earlier in the same month, Rapyd conducted a fintech developer survey that revealed their challenges, opportunities, and the aim to collaborate within the developer community.
The company carried out global research amongst web developers, looking to identify the day-to-day challenges and opportunities associated with their roles, along with the results showing that the surveyed are embracing two methods for collaborating and learning new skills: developers’ communities and hackathons.
For more information about Rapyd, please check out their detailed profile in our dedicated, industry-specific Company Database.
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