Rapyd commissioned Forrester Consulting to survey customers and discover the Rapyd ROI.
If you want to do business globally, you will need a fintech partner that enables you to embed local payment methods and financial services beyond just credit cards. Despite market demand, it’s difficult for businesses to scale payments internationally without adding vast amounts of internal infrastructure and administrative and compliance burdens.
That’s why fintech solutions like Rapyd are becoming more prevalent. However, it can be difficult to understand the costs and benefits of investing in different fintech platforms to more effectively collect payments, disburse funds, issue cards and ewallets.
That’s why Rapyd commissioned a study from Forrester Consulting. This study was based on interviews with Rapyd customers and reveal the typical challenges and potential benefits and ROI of Rapyd’s offerings.
Source: Forrester Consulting study commissioned by Rapyd, The TEI of the Rapyd Solution
Before Rapyd Businesses Struggled to Expand Cross Border and Deliver Payment and Payout Methods Globally from a Single Provider
Prior to implementing Rapyd, customers tend to use a patchwork of other payment and fintech providers to enable global market and cross-border expansion. Yet these platforms do not support all potential countries or currencies, leaving the organizations unable to meet their strategic goals or to engage with large local customer bases.
Findings from the Rapyd ROI Study
Rapyd Customers Gain Significant Efficiencies and Lower Workloads
Rapyd’s automatic reviews and customer support allowed their organizations to reduce the time and number of resources necessary to complete certain operations and instead reallocate them to higher-value tasks.
Rapyd Customers Gain the Ability to Expand Faster, Reach New Markets
By providing fast integration to new markets in the appropriate currencies, Rapyd customers are able to expand to new countries. Which lead to margin growth from new market expansion worth $4.7 million of incremental profit according to the commissioned Forrester Consulting study.
Improved Customer Experiences
Having faster, local payment methods eliminated wait times associated with traditional methods. As payments became faster, this correlated to improvements in the organizations’ customer experiences.
Significantly Lower Fees
When a customer checks out on a website, Rapyd processes the customer’s card payment and allows for it to be converted to the appropriate currency, and helps the customer avoid additional fees they would incur with other vendors. And, unlike other payment providers, Rapyd does not have additional monthly fees or fixed costs.
Here’s What Our Customers Are Saying
With Rapyd’s fintech offerings, customers realize various benefits from faster growth, to easier administration and lower costs. Check out the Forrester Consulting study, The Total Economic Impact™ of the Rapyd Solution for a full overview of the potential benefits and Rapyd ROI. This study can help you understand and realize the full value of Rapyd solutions.