B2B fintech-as-a-service provider Rapyd announced on Thursday has announced a new initiative with the City of Miami to boost technology and startup industry growth, Rapyd’s $100 Million Miami Tech Power Initiative.
Rapyd reported that through the program it has committed to waiving payment processing fees of up to $5 million for 20 companies, $100 million in total, for companies interested in relocating as well as for companies already based in the city.
“The program is being launched in Miami first with the potential to be rolled out in other emerging technology centers across the country in the future, and aims to strengthen the tech ecosystem and empower companies to expand their global digital footprint.”
While sharing more details about the initiative, Eric Rosenthal, Vice President and Managing Director of the Americas for Rapyd, stated:
“We see that Miami is rapidly becoming a central destination for technology development. Our goal is to work with local ecosystems that are looking to change the way business is done globally and make investments to help power that growth. Miami represents this “shift” as a rapidly emerging destination of technology development and innovation which is why Rapyd is making this investment in the local ecosystem.”
Founded in 2016, Rapyd’s global payments network connects companies to “all the ways the world likes to pay.”
“With Rapyd, digital sellers in Latin America can accept cash. Online shoppers in Asia can pay with their favorite ewallet. And businesses can make payouts to companies and individuals anywhere in the world. With 900+ payment methods in 100 countries, you can open new markets, reach new customers, and create new opportunities anywhere.”