Starting out as a mobile payments company in 2016, Rapyd has rapidly developed into a service far beyond its origins. Effectively, Rapyd powers global organisations including Ikea and Uber with local and cross-border payment options. The firm utilizes a global network of payment methods in over 100 countries and grants customers access to markets better, faster, stronger.
For Netherlands-based PayU, the transaction is expected to free up resources to allow the organization to focus on the large payments and fintech opportunities in India where it serves more than 450,000 merchants and more than 2 million credit customers.
Much in line with Rapyd’s prior acquisitions, the deal will help the company scale and market its presence in Central and Eastern Europe and Latin America, while also gaining access to relevant underlying licenses and payment processing infrastructure.