Rapyd, a global fintech service company, announced a major expansion of its European platform to support its rising eCommerce growth, adding end-to-end card acquiring to its industry-leading payments capabilities.
As a result of this the company now offers the most comprehensive full stack payment acceptance capabilities in Europe, including card acceptance, and has enabled customers in over 100 countries to be able to pay with cards, bank transfers, e-wallets and cash through a single provider and contract.
The acceleration towards digital payments continues to develop; as consumers turn to online commerce due to the COVID-19 pandemic, businesses move with them to online and further expand into new geographies.
By adding fully integrated online card acquiring capabilities and offering the industry’s largest number of APMs, the Rapyd platform offers the easiest way for European businesses to expand globally online. This also gives merchants the ability to extend their existing point-of-sale (POS) systems to deliver an integrated omni-channel commerce experience as business models change and consumer shopping preferences evolve.
Sarel Tal, Rapyd Vice President and General Manager for Europe, Middle East, and Africa, said “European merchants are at a crossroads and need to fully embrace digital commerce to thrive as consumer shopping and payment preferences are changing rapidly. Compensating for the loss of in-store business, merchants need to quickly expand into global markets to pursue cross-border sales opportunities, significantly improve conversion rates and reduce cart abandonment. Rapyd solves the complexity of payments and can even eliminate the number of payment providers merchants must work with as they implement global expansion plans.”
According to a recently released Forrester 2020 Consumer Technographics Survey on digital commerce, which surveyed thousands of consumers the impact of social distancing, lockdowns, and other measures in response to the COVID-19 pandemic is causing a significant increase in eCommerce. Merchants who can offer online card acceptance and local payment methods are well-positioned to grow in existing markets as well as to find new areas for regional and global growth and expansion as e-commerce continues its heavy expansion.
Rapyd continues to grow its global footprint expanding its integrated fintech capabilities with launches across multiple markets globally. In the past year the company has launched full-stack payment capabilities in several of the world’s largest consumer markets including the United Kingdom, India, Brazil, Mexico and Singapore.