Payments fintech Rapyd has launched a new product designed to help businesses expand into new markets while supporting local payments.
Virtual Accounts, available on Rapyd’s fintech-as-a-service platform with Collect, Disburse and Wallet, enable businesses anywhere in the world to accept local bank transfers across 40+ countries in more than 25 currencies.
This initial coverage includes the US, UK, EU and APAC regions. Clients Kadmos, a global salary payment platform, and Kontempo, an embedded payment solution for B2B ecommerce, are already using Virtual Accounts.
Khyati Soparkar, head of global product marketing at Rapyd, commented: “One of the key factors that holds businesses back from expanding globally and reaching the next level of growth is the lack of infrastructure to support local payments.”
“Virtual Accounts provide businesses the confidence to grow worldwide knowing they have a trusted payments solution in place. Now, it’s never been easier to reach more countries, currencies and customers—all businesses need is one Rapyd account.”