- Rapyd’s European e-commerce merchants will now be able to offer full-stack payment services, including Mastercard and Visa.
- The move brings Rapyd’s European offer into line with its offer in other major markets such as the UK and Singapore.
- A senior figure at the firm said that the move was important given the changing business times.
The financial technology firm Rapyd has announced that its platform will be going on a step further thanks to new end-to-end card acquisition facilities in Europe.
Customers in European markets will now be able to enjoy an extended range of payment options at many merchants thanks to Rapyd’s bolstered accepted method range.
The firm’s platform is now ‘full stack’ in this regard.
The development means that customers will be able to pay using major names such as Visa and Mastercard.
It also means that regional Alternative Payment Methods (APMs) can be used.
These differ from place to place, but Rapyd’s full-stack function is compatible with the APMs of 100 nations.
Rapyd’s customers are online merchants and e-commerce providers.
The firm also caters to marketplace-style websites that bring together providers for consumers to choose between.
It provides those organisations with easily adaptable payment options that are suitable for local market demands and preferences.
This is not, however, the first time that Rapyd has made such an expansion in a key market.
It has already announced that it will be offering full-stack payment services in the UK.
Other countries in which Rapyd’s full-stack option is available include Asian nations such as Singapore and India as well as key Latin American markets such as Brazil and Mexico.
In a statement, Sarel Tal, who is the general manager for the Europe, Middle East and Africa region at Rapyd as well as its vice president, shed some more light on the wider context of the decision to expand full-stack services to Europe.
He said that e-commerce providers were facing a series of important decisions about digitalisation – and that full-stack payments could help.
“European merchants are at a crossroads and need to fully embrace digital commerce to thrive as consumer shopping, and payment preferences are changing rapidly,” he said.
He also explored the international angle of the digitalisation question, and emphasised that full-stack payment solutions could lead to improved international money transfers for customers and merchants.
“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,” he said.
He finished by explaining the benefits to users of adopting a full-stack platform such as Rapyd.
“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,” he said.
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