Global Fintech Rapyd Expands Card Acquiring Solutions to Singapore

Rapyd, a global fintech firm, announced the expansion of its card acquiring solution to Singapore.

This solution, when combined with Rapyd’s core Fintech as a Service platform, equips local businesses with the tools “to elevate their market presence locally and extend their global reach to tap into the vast potential of over 4 billion consumers worldwide.”

With the expansion of the card acquiring solution to the city state, Singapore is now the first country in Asia Pacific “to have access to Rapyd’s complete and enhanced suite of services that also includes real-time-payments, white labeled wallet infrastructure, enhanced FX solutions and virtual accounts.”

Now, with one simple integration, local businesses can “accept payments made via credit and debit cards, e-wallets (such as ApplePay, GooglePay and GrabPay), bank transfers (including PayNow), and send money abroad to over 190 countries via the Rapyd Global Payment Network, the largest local payment network in the world.”

In today’s rapidly evolving financial landscape, fintech has “become an indispensable tool for businesses seeking growth and efficiency.”

Recent data in a PwC study underscores “the central role of payment technology in business priorities and foresees continued growth on the horizon.”

Singapore businesses, in particular, “are embracing payment digitization strategies and are adopting fintech solutions into their operations.”

Against this backdrop, the addition of Rapyd’s card acquiring solution “to its existing Fintech as a Service platform in Singapore presents significant growth opportunities for local businesses.”

At its core, Rapyd’s value proposition centers “on innovation, flexibility and efficiency, traits that adeptly address the unique challenges faced by industries that grapple with diverse risk and complexity levels.”

This holds particularly true for enterprises “operating in the online travel, financial services, online gaming, pharmaceuticals and marketplaces sectors.”

These industries contend with complex business models “that result in a myriad of use cases, underscoring the importance of streamlined payment solutions.”

Consider the online gaming sector, “where convoluted payment challenges arise from a multitude of in-game purchases, international player bases, and various virtual currencies.”

To tackle these complexities, Rapyd offers businesses “a flexible payment solution within its Fintech as a Service suite, providing over 900 different local payment methods and accepting over 150 currencies to better enhance customer convenience.”

The launch of card acquiring in Singapore also “extends invaluable opportunities for global enterprises utilizing Rapyd’s services, allowing companies in Europe to effortlessly receive payments from Singaporean consumers via their preferred payment method, be it through credit card, e-wallets or bank transfers.”

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