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February 18, 2020

Rapyd and Visa join forces on fintech services

Fintech-as-a-service provider Rapyd has teamed up with Visa to expand its operations across the globe.

Through the alliance with Visa, Rapyd intends to provide fintech and payment services to expand the core services of businesses.

Rapyd will also become part of Visa’s Fintech Fast Track programmes and serve as an enablement partner.

The aim is to support the speed to market for fintech firms using Visa payment tools.

Currently, Rapyd serves as a Visa issuer in the UK and plans a broader reach eventually.

Rapyd vice president of EMEA Sarel Tal said: “As businesses look for global expansion opportunities they must contend with the complexity of integrating local and cross-border payment capabilities, including collections, disbursements, and card-based solutions.

“Now Rapyd can leverage Visa’s offerings — Visa Direct for real-time funds transfers, Visa Token Services for secure digital payments, and Visa’s issuance capabilities –  to enhance Rapyd’s core issuing and acquiring services, unlocking simple, relevant payment experiences for these businesses globally.”

With Rapyd’s platform, users can accept cash, bank transfers, and e-wallets in more than 100 countries.

Notably, Rapyd raised $100m in a funding round led by Oak HC/FT last year. Oak was joined by Tiger Global, Coatue, General Catalyst, Target Global, Stripe as well as Entree Capital.

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