Rapyd, the fintech platform, has announced the rollout of its Rapyd Checkout, a hyper-local payments solution that allows merchants to accept local payment types in 100+ countries, including cash, bank transfers, local cards, and e-wallets.

According to the fintech, the solution will allow merchants to accept local payment methods that consumers use every day through a single integration. Rapyd Checkout offers businesses a way to quickly and easily reach new customers, looking to expand the number of available payment methods offered in local markets they currently serve. The solution offers a merchant-branded user experience and manages local regulatory, compliance issues and utilizes a single settlement and reconciliation process across multiple countries to one file with local payment methods supported in 170 currencies.

“Today, only 6 percent of the world’s population has a credit card, yet more than two billion consumers transact in local markets with a diverse set of payment methods like cash, bank transfers, e-wallets, and local debit cards,” said Helcio Nobre, Chief Product Officer at Rapyd. “With Checkout, we’re enabling these same consumers to pay how they want – giving merchants easy access to them through the use of Rapyd’s network connections in 100+ countries.”

This new solution follows Rapyd’s $40 million Series B funding round in February.

Founded in 2015, Rapyd is headquartered in the UK with offices in London, Singapore, Silicon Valley, and Tel Aviv.

by Megha Bhattacharya
Market Analyst at IBS Intelligence