With the funds raised, the company is launching their cloud-based operating system, Payrails OS, to help enterprises manage payments and build financial services for customers across the globe.
Payrails brings value to all players in the payment ecosystem and augments payment experiences for the end-user. With Payrails, businesses can leverage a single API to scale their payments and financial capabilities via smart payment routing, consolidated money movements, and payment reconciliation via ledgers.
With Payrails, merchants can thus add new payment methods to serve their customers and increase their authorisation rates while managing local compliance and regulatory requirements. Catering to enterprise clients across all industries, including marketplaces, ecommerce, quick-commerce and mobility players, the solution will fill a slot in the digital payments market, expected to reach USD 2.9 trillion by 2030, according to the press release.
At the same time, enterprise clients can track their payments’ performance through unified analytics, providing more control and visibility over a company’s financial operations and helping to reduce payment fraud. Payrails also offers PSPs a way to onboard new customers and enables payment acceptance for marketplaces.
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