Rapyd reveals programme for digital payments adoption in Singapore

Wednesday 22 April 2020 13:32 CET | News

Fintech-as-a-Service company Rapyd has announced a new Solidarity Programme to help Singapore businesses quickly accept payments online with no fees until the end of June.

This solution will enable them to serve customers staying at home while reducing their costs, as Singapore battles the COVID-19 pandemic. Rapyd’s Solidarity initiative includes a full fee waiver (i.e. 0% Merchant Discount Rate and zero transaction fees) on the first SGD 100,000 in processing volumes for all newly onboarded merchants until the end of June 2020. The programme is meant to provide meaningful support to startups, small businesses, non-profit organisations responding to the virus, however the fee waiver will be available to all Singapore-registered businesses. 

This initiative’s purposes aim to:

  • Help Singapore businesses go cashless more quickly;
  • Increase the operational resilience of businesses as they adapt;
  • Ensure businesses can accept real-time payment methods such as PayNow and FAST, to facilitate their working capital;
  • Help businesses make real-time payments so their suppliers and delivery personnel have faster access to their funds as well. 

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Keywords: Rapyd, Singapore, digital payments, fintech, Fintech-as-a-Service, online payments, startup, coronavirus, COVID-19, merchants, cash
Categories: Payments & Commerce
Countries: Singapore
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