Rapyd now claims to offer more payout methods in Asia than any other payout platform.
It comes at a time when the global disbursement market is expanding quickly worldwide, notably in Asia.
Rapyd, a global Fintech as a Service company, has just expanded Rapyd Disburse its mass-payout platform. It’s a unified cloud-based solution which delivers “the broadest” array of payment acceptance and disbursement capabilities with reach to more than 100 countries.
The backdrop is that significant changes in the economic landscape are moving businesses to get online and pay their suppliers, workers and partners electronically easily. Yet, both new and existing online businesses are finding it challenging to pay efficiently, at low cost, and in the preferred local payment methods they need, including local and cross-border bank transfers, into ewallets, push-to-card, or even in cash.
Rapyd Disburse bypasses legacy mass-payout platforms by providing APIs that improve the user experience and supports multiple disbursement use cases including B2B supplier payments, B2C mass payouts for digital platform businesses and P2P transfers for remittance firms and banks.
Rapyd Chief Product Officer Helcio Nobre said: “In this quickly changing economic environment businesses are looking for a modern disbursement solution that leverages speed-to-market, provides global payout reach and offers flexible technology options to support rapidly changing use cases. Enabled through the Rapyd Global Payments Network, Rapyd Disburse gives businesses unparalleled reach and scale providing highly localised payment experiences based on consumer payment preferences.”
According to research from the “Rapyd 2020 State of Disbursements: APAC Outlook” which surveyed consumers across seven countries in the Asia-Pacific region and found that bank transfers are the preeminent way consumers prefer to receive funds. Consumers choose to receive a bank transfer 53% of the time, followed by cash (16%) and ewallet transfers (14%).
Additionally, Rapyd found consumers are most concerned about security, speed and the costs of the funds being received.