Fintech Rapyd launches all-in-one Singapore payment platform

It enables users to make payments, convert cash, and receive funds electronically via a single platform.

Singapore-based fintech firm Rapyd has launched an all-in-one platform that will enable businesses and local consumers to pay and receive funds digitally, the fintech firm announced.

Rapyd’s “Singapore Platform” enables consumers and businesses to easily make payments electronically, convert cash to electronic payment methods, or receive funds instantly via a single technical integration.

Services offered include real-time interbank payments via FAST, PayNow, and PayNow QR, kiosk payments via AXS and SAM machines, and mobile payments and ePayments via FOMO Pay and Razer.

The firm also partnered with digital wallets and apps GrabPay, DBS PayLah!, and OCBC Pay Anyone; credit and debits cards Visa and Mastercard; and debit payment scheme NETS.

Consumers may also convert cash to electronic payment in stores via fintech cash withdrawal firm soCash.

In October, the Monetary Authority of Singapore (MAS) has granted Rapyd a remittance licence in Singapore. Rapyd also shared that it is working with Singapore banks such as DBS Bank for cashless cash management, and OCBC Bank for mobile payments.