Rapyd, a global fintech as a service company, announced this week that it has launched a single “full-stack” integrated local payment solution in Mexico, in partnership with several major Mexican payment providers.
The new payment solution, which follows on from the company launching a similar solution in the UK, allows local and global companies to access every local payment method through one API, contract, and reconciliation service. Rapyd has launched this new solution in partnership with Banregio, RedEfectiva, Cacao Paycard and others.
Through its platform, businesses in Mexico can accept major local payment methods, including cash, bank transfers, and cards through a single connection. Furthermore, through the solution, businesses are able to disburse funds through bank transfers, cards, and push to cards in Mexico as well as globally.
Commenting on the new solution, Eric Rosenthal, Vice President and Managing Director for the Americas at Rapyd said in the statement: “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.
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“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.”
Rapyd solution allows for business expansion abroad
One of the main bonuses of the solution, according to Rapyd, is that the integrated payments network allows companies to integrate complex local payments systems simultaneously. This, therefore, can facilitate the expansion of local businesses abroad, the company said.
“At Banregio the success of our customers is our mission. We work every day to offer innovative financial solutions and strive to be part of the growth of businesses in Mexico. Rapyd is one of our loyal partners and we are proud of this launch,” added Pedro Valenzuela, Head of Marketing at Banregio in the statement.
“We look forward to being a part of Rapyd’s solution as they aim to increase the ability for Mexican consumers to access the global ecommerce market and for businesses to significantly improve user experience in Mexico, throughout Latin America and around the world.”