Rapyd Streamlines B2B Payments to Distributors, Sellers and Suppliers

Global FinTech company Rapyd introduced upgrades to its cloud-based Disburse and Collect Platforms, providing an end-to-end system for B2B companies to pay suppliers and sellers while receiving customer payments worldwide, according to a Tuesday (Nov. 9) press release.

The company has expanded its Disburse platform capabilities across more than 200 countries, enabling organizations to make payouts in top trade currencies, including U.S. dollars, euros, pounds and Singapore dollars anywhere globally, along with regional and local currencies, according to the announcement.

As part of the enhancements, Rapyd users can exercise more control over payout timing, with the ability to dispense real-time payments in more than 50 countries across the globe. In addition, Rapyd clients can now also use Virtual Accounts to accept payments in Singapore and Europe using their locally preferred currency.

“The pandemic accelerated the need of every business, large and small, to participate in digital ecosystems for trade, procurement and labor, whether on a gig-platform to find and pay workers, a B2B trade platform for supplies, or a cross-border B2B eCommerce marketplace to sell globally,” said Joel Yarbrough, managing director of Rapyd Ventures and vice president of Asia Pacific. “We can now serve cross-border B2B firms with the most flexible, end-to-end payments solution anywhere.”

The most recent upgrades follow advancements in August, when Rapyd launched a collaborative effort with Thailand’s Google Play to allow users to have access to the platform’s PromptPay payments, according to PYMNTS. The effort provides local Android users and content creators with access to a full suite of premium digital content on the Google Play Store that supports PromptPay and enables them to make real-time payments or fund transfers using a mobile number or national ID.

Prior to that, Rapyd introduced an all-in-one payment capability in Thailand and has signed agreements with Thai companies to make local payment options such as international and local cards, bank transfers, eWallets and cash accessible to consumers.

Related: Payments Network Rapyd Adds PromptPay Capabilities For Google In Thailand