Rapyd partners with InComm Payments to support cash payments
By Pavithra R
Rapyd, a global FinTech as a Service company has announced that the firm has partnered with InComm Payments, a global leader in innovative payments technology to enable cash bill pay and load solutions at participating retailers across the United States.
In the U.S., despite the growing preference of digital payment methods over cash, paper money is still the most preferred method of payment for transactions under $25. The alliance opens up the entire digital economy to customers who prefer cash transactions for everyday activities such as paying bills
The collaboration aims to empower participating billers and consumer-facing providers of goods and services, to provide cash payment options to their customers, allowing them to grow their businesses.
“Cash is still king in most of the world, but the digital economy is not currently set up to capitalize on it. Rapyd has made it our mission to expand the ways in which people can pay for digital goods and services across every border and every form of currency. We are excited to partner with InComm Payments to expand the customer reach of countless businesses and seamlessly integrate cash,” said Eric Rosenthal, Managing Director and President of Rapyd U.S.
Consumers will be able to use cash to add funds and pay their bills at participating locations that they frequently visit in their communities such as grocery stores and pharmacies. Consumers can show their unique barcode to the cashier through their smartphone app and instantly add funds to participating accounts or pay their bills. These funds can be used to make monthly payments on loans and purchase online goods and services without the need for a credit card.
“Billers and retailers continue to explore convenient options to offer their customers a full range of payment choices. Our partnership with Rapyd will deliver enhanced payment flexibility and convenience with regards to cash payments for retail customers across the country,” said Tim Richardson, Senior Vice President at InComm Payments.
Recently, Challenger bank Current partnered with Incomm and introduced cash deposits feature.
Founded in 2016, Rapyd is a trading name of CashDash UK Limited. The company offers FinTech-as-a-Service platform with various local payment methods and services. It’s cash acceptance service is just one pillar of their FinTech-as-a-Service platform that facilitates more than 900 forms of payments across all borders including payments through credit cards, debit cards, eWallets, card issuing, and disbursement.
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