Industrial Automation Magazine India

UK-based Fintech platform Rapyd enters India with an all-in-one payment solution

Published on : Thursday 16-07-2020

Rapyd partners with Indias leading payment providers to expand its Global Payments Network into the Indian market.

Singapore, July 16, 2020 – Rapyd, a global Fintech as a Service company, announced today its partnership with key players of India's payments ecosystem – including Paytm Payments Bank, PhonePe, PayU, Citibank, DBS Bank, HDFC Bank, BharatPay, and Unimoni – to roll out a comprehensive payment service that allows international merchants to grow their business in India and helps Indian merchants to expand sales internationally and easily access over 900 locally-preferred payment methods around the world. Through extending Rapyd's Global Payments Network to India, international merchants can now access India's preferred payment methods through a single technology stack, enabling them to go "local" for the India audience, both collecting from buyers and making payments to suppliers and partners using India's preferred methods.

"The roll-out of Rapyd's Fintech as a Service platform in India will simplify access to India's strongest payment brands in a single solution, solving scaling challenges in eCommerce, Fintech, lending, business services, and treasury management," says Mahesh Muraleedharan, Country Manager, Rapyd.

"We can give our customers access to faster, and truly borderless innovation, accelerating their time-to-market and helping India's digital innovators to grow in India and beyond, and removing the complexities of managing product, tech, compliance, and operations," he added.

Satish Kumar Gupta, MD & CEO, Paytm Payments Bank said, "We are happy to collaborate with Rapyd as their Business Banking and Payout partner in India. With this partnership, we will extend the convenience & flexibility of multiple payment modes, including Paytm Wallets, Bank Transfers and UPI to global businesses for collecting & disbursing payments to their sellers, customers and partners. Our comprehensive digital offerings will enhance Rapyd's seamless payment experience."

Sudhir Sehgal, Country Head – Enterprise Business at PayU said, "We are extremely delighted to partner with Rapyd, one of the world's leading global payment networks, to help their global merchants enhance their business operations in India through our seamless payment collection services. We consider Rapyd to be an extremely valuable partner of PayU and are excited to be part of their journey in India."