Rapyd offers Full Stack API for global payment acceptance

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Rapyd offers Full Stack API for global payment acceptance

By David Heun

U.K. fintech Rapyd is offering clients the ability to accept all payment methods through one application interface, a digital service it says eliminates the need for companies to develop complicated payments infrastructures.

The Rapyd Full Stack allows U.K. companies to access the country's Faster Payment network and BACS, deliver bank account number and virtual IBAN issuing, card acquiring and issuing through Visa and Mastercard, cash collection and withdrawal, e-wallet and other payment account issuing, disbursements to bank accounts, e-wallets and other methods, and access to open banking services.

Visa, Mastercard, Payzone and ClearBank are Rapyd partners for the all-in-one solution for local and cross-border payments and reconciliation for companies of any size.

"The idea behind our full-stack offering is simple: provide companies with the capability to accept every major local payment method without having to expend resources to build complex payments infrastructure needed to power fintech and commerce applications as digital payments accelerate," Sarel Tal, vice president for Europe, the Middle East and Africa at Rapyd, said in a Tuesday press release.

"By enabling both disparate local and global payment networks, we are able to provide businesses around the world a way to tap into the growing UK market quickly, while minimizing operational costs and managing all local regulatory requirements," Tal added.

Rapyd's integrated fintech-as-a-service platform and global payments network supports more than 900 payment methods in 100 countries, all of which would operate through the new API.

The integrated payments network allows online marketplaces, fintech services, cross-border B2B companies, neo-banks, gig-economy platforms, and global retailers access to digital, physical and omni-channel payment capabilities from cards to cash, Rapyd stated in the release.

“With the launch of this platform, Rapyd is making operating in the U.K. market as simple and efficient as it can be for companies around the world,” Martin Rouse, retail director at Payzone, said in the release.

Rapyd is authorized and regulated through the Financial Conduct Authority in the U.K.

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