This includes payment gateways, global finance management, and card issuing as needed.
The company aims to simplify, speed up, and make cross-border payments accessible to different business types operating globally.
Whilst growing, and showing promise, the offering is similar to GoCardless or Zen at this moment in time. We expect it to keep developing beyond this in time.
Overview
Transaction fee (International) | Monthly fee | Refund Fees | Settlement timeframe | International markets |
|---|---|---|---|---|
0.20% – 1.80% per transaction, with Interchange, there's no markup fee | $99 per month | $25 | 2-10 days | 200+ Countries to make and accept payments |
- Global coverage with over 200 currencies and locations covered, which is more than with many other cross border payment platforms
- Strong support for popular ecommerce platforms with plugins and API
- Accepts higher risk industries such as online gaming and online trading
- Product offering is still developing
Features | Insight |
|---|---|
Multi-currency account | Rapyd offers multi-currency accounts for sending and receiving international payments in multiple currencies, as well as, holding your balance in multiple currencies, and settling all transactions from one account. |
Virtual accounts | Create as many virtual accounts as needed to accommodate all your customers. |
Expense management | Manage expenses with granular control with approvals, virtual and physical cards, and push-to-card payments. |
Support for higher-risk niches | Rapyd supports multiple higher-risk industries including online trading and iGaming |
Exchange rate locking | Control your rates with FX features. Rapyd allows you to lock the rates so your customers always get the most of their money. |
Local payments | Take local payments with local accounts and details from one dashboard. Customers can create as many virtual accounts as needed with support in over 40 countries and 25 currencies. |
Global payouts | Send global payments to 190+ countries in 120+ currencies with support for bank transfers, RTPs, card transfers, and e-wallets. |
Card machine hire & virtual terminals | Rent card machines for when you need them |
Custom checkout & payment links | Build custom checkout pages to optimize the user experience and optimize for conversion (similar to Payable). In addition, use payment links to take payments anywhere you can paste a link. |
Virtual and physical cards | Distribute physical cards across your team or create as many virtual cards as needed with support for multiple currencies. |
Rapyd fees and general costs
Service | Fee |
|---|---|
Monthly fee | $99/month |
Domestic fees | 0.20% – 1.80% per transaction (for Interchange++ there is no markup) |
International fees | 0.20% – 1.80% per transaction (for Interchange++ there is no markup) |
Card network charge | 0.02% – 0.65% per transaction (for Interchange++ there is no markup) |
Refund fees | $25.00 |
Chargeback fees | $15.00 |
Eligibility
Business types
Countries
Products offered by Rapyd
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Hosted checkout options
Rapyd's Hosted Checkout solution provides businesses with a customisable, secure payment page. This can can be easily integrated into their websites.
This service supports multiple payment methods and currencies, catering to a global customer base.
The checkout page is optimised for various devices, ensuring a consistent user experience across platforms.
Additionally, Rapyd handles all compliance and security aspects, allowing businesses to focus on their core operations.
Localised payment options
It's possible to offer localised payment options to customers. In total Rapyd claims to offer over 900 payment methods. For comparison, Fondy offers around 300.
Example accepted payment methods
Rapyd lists the following accepted payment methods, plus alternative payment methods (APMs).
Credit / debit Cards
eWallets
Bank debits
Bank redirects
Bank transfers
Cash and vouchers
Real time payments
Multi-currency business accounts and virtual accounts
Rapyd's offers multi-currency business accounts. This allow businesses to hold, manage, and convert funds in multiple currencies.
This feature is particularly beneficial for companies operating in various markets. It allows for to receiving payments locally, and the reduction of currency risk.
The accounts are IBAN accounts and there's over 50 options available. For comparison, Sokin offers 75 virtual IBAN accounts, and also 4 local account options.
Additionally, Rapyd ensures that all transactions comply with relevant regulations in each country.
Physical sales
Rapyd supports physical sales in two ways. Firstly, through payment terminals. Different options are available based on the environment. These are suitable for ecommerce stores that may be holding a pop-up or semi-regular events.
Then, Rapyd's Virtual Terminal transforms any internet-connected device into a point-of-sale system. This allows businesses to process payments over the phone or in person without physical card readers.
This solution is particularly beneficial for service-based industries or remote sales as well. Customers can take payment using the terminal through payment links.
With cross border support as well, this makes them a great alternative to Stripe.
Signing up for Rapyd
Sign Up and Access the Client Portal
Begin by signing up for a Rapyd Client Portal Account. Once registered, log in to the Client Portal, where you'll be greeted by the "Get Started" tab.
This section provides an onboarding checklist that will guide you through the initial steps to verify and set up your Rapyd account.
Contact the Sales Team
As part of the account activation process, you’ll need to provide additional information about your business.
Navigate to the "Get Started" tab and click on the "Contact Our Sales Team" banner.
In the window that appears, select the product solution that best fits your needs, and provide an estimate of your annual business processing volume along with any other relevant business details.
This information helps the Rapyd sales team tailor their product offerings to your specific requirements.
Verify Your Account
To fully activate your account, you need to complete Rapyd's KYB (Know Your Business) process.
In the "Get Started" tab, click on the "Verify My Account" button. This will take you to the "Activate Your Account" page where you can start the KYB application.
Once your KYB questionnaire is submitted and approved, you'll unlock additional features such as removing account limits and enabling payment collection.
Set Up Your Bank Account
The final step in setting up your Rapyd account is adding your banking information.
This is crucial for settling the funds you collect into the appropriate business account.
Navigate to the "Get Started" tab, click on the "Set Up Your Rapyd Account" banner, and then select "Add Bank Account."
Enter your bank account details to complete this process.
Once your account is fully set up, you can begin inviting team members and collecting payments using your Rapyd account.
Rapyd Payment API
Rapyd's Global Payments API brings together different products under one integration.
The API supports all payment methods—including cards, bank transfers and eWallets. There's also support to sync to cash payments on POS as well. This is a nice feature that keeps everything in one location.
Send and receive international payments
Use customised international payment gateways
Issue and manage card payments
Sync accounts and accept transactions from multiple locations
The platform is designed for scalability. Using Rapyd we believe it's possible to adapt an infrastructure as the needs of a business change.
Built-in fraud protection and compliance measures aids in secure transactions across multiple markets.
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