MONTREAL, Dec. 7, 2017 /PRNewswire/ -- Payment Rails, an API-first payout platform, today announced the official launch of the first truly global payout platform for sending payments to 220+ countries in 135+ currencies. Through a single simplified integration, businesses and platforms can now access global banking, payment and real-time networks around the world in a fully compliant and regulated environment. The Payment Rails platform has no setup fees, monthly minimums or long-term contracts.

"Payment Rails is re-wiring how business payments are sent around the world," said Tim Nixon, co-founder and CEO. "With our API, businesses can now seamlessly send payments to over 220 countries for as little as $1 per transaction, with live foreign exchange rates, and delivering funds direct to bank accounts as opposed to a recipient's e-wallet. Our clients are looking for an easy to use payout platform where they own the full customer relationship and UX instead of handing off their customers to an e-wallet removed from their core payment process."

Payment Rails' white-label payment infrastructure allows businesses to effectively run their own in-house global payout solution without needing to build or manage it themselves, allowing them to focus on their core business. Key features of the white-label payout platform include:

• Global bank account validation
• Recipient Widget for capturing bank account details
• Automated white-label emails to recipients
• White-label recipient bank statement descriptors
• Automated returned payment handling

"Businesses are simply looking for more from their banks and are not getting the additional services they need to automate their processes," states Ferhan Patel, Payment Rails' co-founder and Chief Product Officer. Many of our clients are migrating off their core banks' treasury service and leveraging Payment Rails' payout platform because we offer automation and REST API connectivity. Our platform provides the same level of treasury services you'd expect from your bank, but with a fintech level focus on the user experience. We also offer a disruptive way to send international payments, by bypassing costly bank wires, offering access to local banking and real-time payment networks, which can significantly reduce transactional costs by up to 80%."

With an API-first approach, Payment Rails' payout infrastructure enables developers to seamlessly add international payments to their platform, website or apps, giving them access to global markets.

Payment Rails, which launched into public beta in earlier 2017, has been working with businesses with diverse and complex payout requirements, including online marketplaces, share economy, affiliate networks and influencer platforms.

"Influencer marketing is the very definition of what a global business is," explains Vivien Garnès, co-founder and CEO at Upfluence. "Issuing monthly payouts to literally every corner of the globe was costing us a disproportionate amount of time and money. When searching for an effective global payout solution, we looked at some of the other platforms out there, but because their solutions were limited to a few currencies or only a handful of countries, that meant that we would still need to rely on costly bank wires and third-party e-wallets for the rest. And then we found Payment Rails. Since we've integrated, we have freed up the time and money previously spent on payouts to focus on our core business. 2018 will be a banner year for us as we can now scale-up faster, thanks to the Payment Rails team."

Payment Rails' infrastructure leverages Blockchain and Ripple to optimize treasury and liquidity management, and allows businesses to send payments domestically and internationally through real-time networks, faster payment systems, international ACH, and global banking networks.  The platform utilizes AI and machine learning to optimize payment routing based on speed, cost and FX rates. Payment Rails also incorporates AI and fuzzy logic for AML watchlist screening, and machine learning for fraud detection to deliver one of the world's most advanced payment platforms for businesses.

To learn how your business can simply your payout process, contact Payment Rails for a demo: https://www.paymentrails.com  

About Payment Rails

Payment Rails is the next-generation API-first payouts platform that enables businesses to send payments to any individual or company in over 220 countries, in any currency and to any payment method. Through its powerful API, businesses can access Payment Rails' global banking, international ACH, faster payment systems and real-time networks, on a pay-as-you-go basis with no setup costs.

Payment Rails simplifies global mass payouts for online marketplaces, on-demand and share economy platforms, influencer platforms, ad networks, affiliate platforms, app stores, and growing businesses with international payout needs. For more information, visit www.paymentrails.com, read our blog, and follow us on Twitter and Facebook

Media Contact

Pola Hallquist 
Apothecary Communications for Payment Rails 
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SOURCE Payment Rails

Related Links

https://www.paymentrails.com