Rapyd, an international Fintech as a Service firm, has made new enhancements to its Disburse and Collect Platforms, offering end-to-end infrastructure for B2B companies to pay suppliers and sellers while “getting paid by customers around the world more efficiently.”
As mentioned in a release shared with CI, Rapyd has extended its Disburse platform capabilities across 200+ countries, “enabling organizations to make payouts in leading global trade currencies including USD, EUR, GBP, and SGD anywhere in the world, along with leading regional and local currencies.”
Rapyd customers are also able to “disburse with Real-Time Payments (RTP) in 50+ countries across the globe providing more control and visibility over payout timing,” the update revealed.
In order to further its B2B payment acceptance offering, Rapyd customers may now also “use Virtual Accounts to accept payments in Singapore and Europe to pay in their locally preferred currency.”
Joel Yarbrough, MD at Rapyd Ventures and VP of Asia Pacific, remarked:
“The pandemic accelerated the need of every business large and small to participate in digital ecosystems for trade, procurement, and labor, whether on a gig-platform to find and pay workers, a B2B trade platform for supplies, or a cross-border B2B eCommerce marketplace to sell globally. We can now serve cross-border B2B firms with the most flexible, end-to-end payments solution anywhere.”
“Rapyd’s platform is unique in that we can serve both Enterprises and SMEs, process local and cross-border large ticket transactions typical of global trade, along with higher velocity, lower ticket transaction sizes common in consumer and SME payments.”
B2B eCommerce on the Web and via marketplaces “generates nearly 4X as much revenue as its consumer-facing counterpart globally, and B2B eCommerce has continued growing during the pandemic,” the announcement noted.
The international B2B eCommerce market size had “already been projected to reach $20.9 trillion by 2027, expanding at a 17.5% Compound Annual Growth Rate (CAGR) from 2020 to 2027, according to Grand View Research,” the announcement added.
With Rapyd, B2B buyers and sellers are able to “leverage a single, unified cloud-based solution to service the broadest array of countries, currencies, business types, and transaction sizes,” the update explained.