Rapyd offers card-acquiring service in Singapore to bolster SME payments

The solution will allow local businesses to offer numerous payment options as a part of the company’s Fintech-as-a-Service software.

The card-acquiring service will allow businesses to accept payments from debit, credit cards, digital wallets, bank transfers, and make cross-border transactions to more than 190 countries using the Rapyd Global Payment Network. The solution offers more than 900 payment methods in over 150 currencies.

The product aims to support local businesses with complexities in the payments ecosystem, particularly in businesses that require multiple payment methods such as gaming, pharmaceuticals, online travel, and online marketplaces.

As Singapore moves to integrate digital payments, the city-state will be the first in the APAC region to use Rapyd, gaining access to instant payments, virtual accounts, and FX solutions included in the company’s suite of offerings.

CEO and co-founder of Rapyd, Arik Shtilman, stated: “We are proud to bring our world-class card-acquiring capabilities to Singapore, offering these businesses a trusted global solution already supporting over 250,000 merchants worldwide. Our established presence in the country has brought us to this exciting moment, and today’s launch highlights our continued commitment to investing in one of the world’s most advanced payment markets. We are dedicated to tackling complex payment challenges faced by businesses in Singapore and empowering them with innovative capabilities to enhance their payment systems and drive rapid growth in Singapore and beyond.”