Rapyd, a global fintech as a service company announced a major expansion of its European platform, adding end-to-end card acquiring capabilities to its industry-leading payments capabilities. Rapyd now offers the most comprehensive full stack payment acceptance capabilities in Europe including card acceptance through Mastercard and Visa, and support for local Alternative Payment Methods (APM’s) in over 100 countries, all accessible from a single platform and managed from one contract reconciliation process.
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The acceleration towards digital payments continues unabated with businesses continuing to move online, further expanding into new geographies as consumers turn to online commerce due to the COVID-19 pandemic. By adding fully integrated online card acquiring capabilities and offering the industry’s largest number of APMs, currently more than 900+ local payment methods are supported, 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.
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.
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Speaking about the launch of pan-European card acceptance capabilities Sarel Tal, Rapyd Vice President and General Manager for Europe, Middle East, and Africa, noted “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.”
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