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Payment Rails heads into public beta

By Finextra

Payment Rails, a cloud technology platform that enables businesses to send payments to any individual or company anywhere around the world, today announced their beta launch. 

US and Canadian businesses can now access Payment Rails’ global banking network through their powerful mass payout API. Today’s beta launch represents the first steps towards simplifying global payouts for online marketplaces, on-demand and share economy platforms, ad networks, affiliate platforms, app stores, and growing businesses with international payout needs.

“We believed there had to be a faster and easier way for businesses to send global payments. We wanted to make payments better than they are, and that started with building a payout API that could support all aspects of sending mass payouts,” said Tim Nixon, Co-founder & CEO.

Through Payment Rails’ global payments network, businesses can save of up to 80% on their international transaction costs. Payment Rails charges businesses a transaction fee of up to $1 to send a transfer to the US or Canada, and just $4 to 63+ other countries. While banks charge $25-45+ for the same transfer.

“Size should not matter. We wanted to level the playing field for all businesses, from startups to platforms and larger enterprises. We believe all businesses sending payments should benefit from low and transparent fees,” said Ferhan Patel, Co-founder & CPO.

In addition to low fees, Payment Rails’ platform offers a number of unique features and benefits, including:
* Payments to 220 countries
* Transfers in 150+ currencies
*RESTful API integration
* Regulatory and AML compliance

First appeared at Finextra

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