Rapyd expands card acquiring solution to Singapore

Wednesday 20 September 2023 10:31 CET | News

Fintech company Rapyd has expanded its card acquiring solution to Singapore, aiming to further streamline payments for local businesses.

When combined with Rapyd’s core Fintech as a Service platform, the solution provides local businesses with the tools to improve their market presence and extend their global reach. This may allow companies to tap into the vast potential of approximately 4 billion consumers worldwide. 

Fintech company Rapyd has expanded its card acquiring solution to Singapore, aiming to further streamline payments for local businesses.

The solution’s impact on Singapore

Being the first country in the Asia Pacific to have access to Rapyd’s solution, Singapore can leverage the complete and enhanced suite of services, as well as its real-time payments, white-labelled wallet infrastructure, improved foreign exchange (FX) solutions, and virtual accounts. By integrating the card acquiring solution, local businesses can accept payments made via credit and debit cards, and e-wallets, including Apple Pay, Google Pay, and GrabPay. Moreover, businesses have access to bank transfers, including PayNow, and they can send money internationally to over 190 countries via the Rapyd Global Payment Network.

Currently, Singapore businesses are adopting payment digitisation strategies and are implementing fintech solutions into their operations. Considering this, the addition of Rapyd’s card acquiring solution to its Fintech as a Service platform in the region may provide significant expansion opportunities for local businesses. 

Rapyd’s offering

The company’s value proposition focuses on innovation, flexibility, and efficiency, features that address the issues faced by industries that deal with diverse risk and complexity levels. This mostly applies to enterprises operating the online travel, financial services, online gaming, pharmaceuticals, and marketplace sectors.

To eliminate these complexities, Rapyd provides businesses with a flexible payment solution within its Fintech as a Service suite, offering approximately 900 different local payment methods and accepting over 150 currencies to improve customer convenience. Moreover, the company delivers robust chargeback tools to resolve disputes and ensure financial stability, as well as a steady cash flow for the merchants. Furthermore, its built-in security system safeguards against fraudulent activities, while its integrated FX solutions reduce complexities and costs on international transactions.

Rapyd’s onboarding processes enable companies to seamlessly integrate with its payment solutions. The company’s main objectives are to increase cost efficiencies, enhance operational agility, and seamlessly navigate complex business models. 

Rapyd’s latest developments

Back in August 2023, Rapyd acquired PayU GPO, aiming to accelerate its expansion across emerging markets in Central and Eastern Europe, as well as Latin America. Through this, the company wants to improve its services and accelerate its expansion in multiple areas worldwide.

Moreover, in May 2023, Rapyd partnered with Belvo, a Latin America-based Open Finance data and payments platform. Through this collaboration, the two companies combined their expertise to enable businesses across Latin America to deliver Open Finance experiences to their customers.

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Keywords: online payments, payments , real-time payments, FX , e-wallet, money transfer
Categories: Payments & Commerce
Companies: Rapyd
Countries: Singapore
This article is part of category

Payments & Commerce


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