Rapyd, a global Fintech as a Service company, announced the launch of a single “full-stack” integrated local payment solution in Mexico, allowing local and global companies access to every local payment method through one convenient API, contract, and reconciliation service.
In partnership with several major Mexican payment providers including Banregio, RedEfectiva, Cacao Paycard, among others, Rapyd’s new offering will give businesses the ability to accept every major local payment methods – such as cash, bank transfers, and cards – through a single connection through its all-in-one platform. In addition, Rapyd enables businesses to disburse funds through bank transfers, cards, and push to cards in Mexico and globally.
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With an annual online shopping growth rate near 30% and a B2C market worth $22.6 billion, Mexico is a market ripe for massive online payment growth, according to J.P. Morgan Global Payment Trends. Just as in other countries dealing with the COVID-19 pandemic, Mexican consumers are quickly moving to digital payments or even cash transactions that are used in online payment scenarios. The Rapyd platform makes digital and cash transactions significantly more accessible to businesses and consumers.
“Mexico is one of Latin America’s high-growth markets. Our full-stack launch will contribute greatly to Mexico’s growing economy by helping local businesses digitize the acceptance of all payment methods in ecommerce marketplaces, digital platforms, gig economy, lending companies, neo-banks, and others,” said Eric Rosenthal, Vice President and Managing Director for the Americas at Rapyd. “Our platform also enables global businesses to accept every major local payment method through one, powerful and simple API integration, removing the complexities of fragmented payment infrastructures and allowing global companies to quickly service the growing Mexican market.”
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