PR83805

LONDON and SINGAPORE, Apr. 27, 2020 /PRNewswire=KYODO JBN/--

-- Mass-payout capabilities expanded to over 100 countries, enables quick

payouts to sellers, suppliers, and workers in Asia, the US, Latin America,

Europe, the Middle East, and Africa

Rapyd, a global Fintech as a Service company, announced today a major expansion

of Rapyd Disburse (

https://c212.net/c/link/?t=0&l=en&o=2786307-1&h=3237632666&u=https%3A%2F%2Fwww.rapyd.net%2Fdisburse&a=Rapyd+Disburse

), an industry-leading mass-payout platform. The company has made significant

investments in the Rapyd Global Payments Network in Europe and the Americas,

and now offers more payout methods in Asia than any other payout platform. A

simplified user interface for clients to onboard is now available, so clients

can begin to more quickly disburse funds locally or cross-border.

Video - https://mma.prnewswire.com/media/1159779/Rapyd_Disburse.mp4

Logo - https://mma.prnewswire.com/media/1159780/Rapyd_Logo.jpg

By expanding core disbursement functionality and deeply integrating them with

Rapyd's Fintech as a service technology stack - Collect, Issuing and Wallet -

businesses can now leverage a single, unified cloud-based solution that

delivers the broadest array of payment acceptance and disbursement capabilities

with reach to more than 100 countries. The Rapyd Global Payments Network

provides significant global reach including 26 countries across Asia including

Singapore, India, Taiwan, and Japan. Expansion across the Americas has also

occurred with more payout coverage in the United States, Brazil, and Mexico.

And depth of coverage in the EMEA region has been broadened in France, Germany,

the United Kingdom, United Arab Emirates, and Kenya. Rapyd will be extending

wider coverage for bank payouts across Africa in the next two quarters.

Significant changes in the economic landscape are moving businesses to get

online and pay their suppliers, workers, and partners electronically quickly

and easily. Yet, both new and existing online businesses are finding it

challenging to pay efficiently, at low cost, and in the preferred local payment

methods they need, including local and cross-border bank transfers, into

ewallets, push-to-card, or even in cash.

Rapyd Disburse bypasses legacy mass-payout platforms by providing APIs that

improve the user experience and supports multiple disbursement use cases

including B2B supplier payments, B2C mass payouts for digital platform

businesses and P2P transfers for remittance firms and banks. Built-in platform

features help prevent fraud, cover regulations and compliance, and manage

foreign exchange conversion.

Rapyd Chief Product Officer Helcio Nobre stated, "In this quickly changing

economic environment businesses are looking for a modern disbursement solution

that leverages speed-to-market, provides global payout reach and offers

flexible technology options to support rapidly changing use cases. Enabled

through the Rapyd Global Payments Network, Rapyd Disburse gives businesses

unparalleled reach and scale providing highly localised payment experiences

based on consumer payment preferences."

The global disbursement market is expanding quickly worldwide, and notably in

Asia. According to research from the "Rapyd 2020 State of Disbursements: APAC

Outlook" which surveyed consumers across 7 countries in the Asia-Pacific region

and found that bank transfers are the preeminent way consumers prefer to

receive funds. Consumers choose to receive a bank transfer 53% of the time,

followed by cash (16%) and ewallet transfers (14%). Additionally, Rapyd found

consumers are most concerned about security, speed and the costs of the funds

being received. The full research report which focuses on Asia-Pacific payment

trends will be publicly released on 4 May 2020.

The global economy is re-focusing to a new playing field and a changed set of

market realities. Digital businesses such as marketplaces, content delivery

networks, gaming, and online education applications support a growing number of

entrepreneurs with new income streams. Marketplaces and gig-economy platforms

that can support cross-border payouts for remote workers, and B2B suppliers

stand to benefit considerably as the world adapts to new market conditions.

Rapyd Disburse solves these global disbursement challenges by simplifying the

complexity of local and cross-border payouts so new markets can be reached

faster. For more information visit https://www.rapyd.net/disburse.

About Rapyd

Rapyd does for fintech what the cloud did for IT. They built the world's

largest local payments network to power frictionless global commerce.

Innovative ecommerce companies, technology firms and marketplaces use their

Fintech as a Service platforms: Collect, Disburse, Wallet and Issuing to

seamlessly integrate payment capabilities into their applications. The Rapyd

Global Payments Network covers 900+ locally preferred payment methods,

including bank transfers, ewallets and cash in more than 100 countries. Now

businesses can open new markets, create new fintech applications, and reach

four billion consumers worldwide without thinking about infrastructure or

regulations. Investors include Stripe, General Catalyst, Oak FT, Tiger Global,

Durable Capital, Target Global, and TaL Capital. For more information, visit:

www.rapyd.net

SOURCE: Rapyd

CONTACT: PR Hacker for Rapyd Claire Brown

Tel: +44-(0)7787-505963 (London, UK) OR

Sarah Thorson

Tel: +1-609-234-8531 (Mountain View, US) rapyd@prhacker.com OR

LITMUS PR for Rapyd APAC

Gian Cing

+65-9115-8500

gian@litmuspr.com.sg