Commissioned by Rapyd, the study assessed the impact of the Rapyd solution for businesses in the United States, Europe, LATAM, and Asia Pacific, by assessing the potential commercial and financial impact of integrating fintech, local payment and payment capabilities into customer experiences
LONDON and MOUNTAIN VIEW, CALIFORNIA, January 10, 2022 / PRNewswire / – Rapyd, a global FinTech-as-a-Service company, today announced the publication of a new Total Economic Impact ™ study conducted by Forrester Consultant. Commissioned by Rapyd, the study assessed the cost savings, business benefits, risks and flexibility of implementing Rapyd solutions and determined the ROI of a composite organization to be 196% over three years. Rapyd helps businesses create local experiences anywhere, handling the complexities of cross-border payments and regulations to enable quick and easy collection and disbursement capabilities.
Integrated local payments that go beyond traditional cards and payment methods have become essential for businesses looking to appeal to global users. Despite the enormous benefits of these capabilities, some companies have struggled to implement them due to infrastructural, administrative and regulatory complexities. Rapyd’s FinTech-as-a-Service model overcomes these barriers and offers a solution for businesses that enables them to adapt, grow and enter new markets with local digital strategies.
“Tapping into local markets around the world has become a must for businesses, and while the decision may be easy, the task itself is enormous,” said Arik Shtilman, CEO and co-founder of Rapyd. “At Rapyd, we think ‘local’ so that businesses can easily go international, and while the study results don’t surprise us, it’s amazing how much value our FinTech-as-a-Service can bring our customers and their users “.
The findings of the study are based on interviews with companies in the United States, Europe, APAC and Latin America to assess the impact Rapyd could have on a business over a three-year period.
Other main findings include:
Net present value (NPV) of $ 4.9 million: The total profit was $ 7.5 million compared to the total cost of $ 2.54 million for Rapyd costs and implementation and management costs.
FX currency conversion and lower transaction fees $ 2.5 million over three years: Rapyd reduced transaction and exchange fees by 33%.
Growth margin of a further market expansion worth $ 4.7 million additional profit. In order to effectively expand into new markets, providing rapid integration to all relevant currencies is essential. This leads to higher success rates and new end-user conversions, which in turn builds trust and loyalty of local audiences.
70% efficiency gained by reducing manual efforts of employees, leading to $ 310,580 in productivity gains: Rapyd has allowed organizations to reduce the time and support it takes to complete certain lower-value tasks, allowing those resources to be reallocated to higher-value operations.
Help navigate specific legal situations related to expansion. As the companies surveyed sought to expand into global markets, they needed to ensure regulatory compliance in each new geographic area. The companies said their organizations were able to navigate these laws more easily with support from Rapyd.
Reduced payment failures which led to more positive customer experiences. In today’s global environment, any business, regardless of size, needs to be able to send and receive payments seamlessly locally and across borders. Companies said their organizations have seen a reduction in payment failures when using Rapyd.
Rapyd is the fastest way to feed local payments anywhere in the world, bringing businesses around the world to markets faster than ever. Using Rapyd’s unparalleled payment network and financial technology as a service platform, businesses and consumers can engage in local and cross-border transactions in any market. The Rapyd platform unifies fragmented payment systems around the world by bringing together over 900 payment methods in over 100 countries. Rapyd’s investors include Stripe, General Catalyst, Oak HC / FT, Coatue, Tiger Global, Durable Capital, Target Global, Fidelity Management and Research Company, Altimeter Capital, BlackRock Funds and Tal Capital. To learn more about the company accelerating fintech as a service revolution, visit www.rapyd.net, read our Blog, or follow us on LinkedIn and Twitter.
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