NewAPI simplifies international mass payouts for online marketplaces, shareeconomy platforms, affiliate networks and more.
TORONTO, CANADA – Tuesday, January 12, 2016 – Payment Rails, a cloud technology platform that enables businesses to sendpayments to any individual or company anywhere around the world, todayannounced their beta launch. US and Canadian businesses can now access PaymentRails’ global banking network through their powerful mass payout API. Today’sbeta launch represents the first steps towards simplifying global payouts foronline marketplaces, on-demand and share economy platforms, ad networks,affiliate platforms, app stores, and growing businesses with internationalpayout needs.
“We believed there had tobe a faster and easier way for businesses to send global payments. We wanted tomake payments better than they are, and that started with building a payout APIthat 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 theirinternational transaction costs. Payment Rails charges businesses a transactionfee 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. Wewanted to level the playing field for all businesses, from startups to platformsand larger enterprises. We believe all businesses sending payments should benefit from low and transparent fees,” saidFerhan 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
To learn more about PaymentRails’ beta launch, please visit www.paymentrails.com
About Payment Rails
Payment Rails is the best way for businesses to send paymentsglobally. Payment Rails is a cloud technology platform that enables businessesto send payments to any individual or company anywhere around the world, in anycurrency and in any payment method. Through their powerful API, businesses canaccess Payment Rails’ global banking and payments network, at a fraction of thecosts.
Payment Rails is simplifying global mass payouts for onlinemarketplaces, on-demand and share economy platforms, ad networks, affiliateplatforms, app stores, and growing businesses with international payout needs.Payment Rails was the startup pitch winner at Finance Montreal’s 2016 CanadaFinTech Forum, the largest FinTech conference in Canada.