Navigating Cross-Border Financial Challenges: A Rapyd vs Airwallex Review

Today, businesses face the challenge of navigating complex cross-border financial transactions. Whether it’s sending funds overseas, paying global game makers, managing international payrolls for content creators or handling multi-currency accounts, businesses need efficient, secure and cost-effective payment and payout solutions. With many options available, it’s important to choose the right financial partner. 

Let’s be real here – we’re not about to spend time writing a blog post for our competitor. Yes, we’re a bit biassed, but here’s the thing, in global business, where payouts are increasingly becoming the foundation of diverse and expanding strategies, it’s crucial to know what you’re signing up for. When it comes to a Rapyd versus Airwallex review, we believe it’s more than just a comparison; it’s about understanding how Rapyd’s features and capabilities match and surpass Airwallex.

We’re laying it all out on the table – if our advantages align with what your business is looking for, then let’s talk

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What is Airwallex?

Airwallex is a multi-currency business account and payment solution. Airwallex allows businesses to receive, hold and send funds in multiple currencies. With Airwallex, businesses can open multiple foreign currency accounts, exchange currencies, and transfer and accept payments internationally. Airwallex also offers virtual debit cards and online payment solutions. 

What is Rapyd? 

Rapyd is a global fintech platform redefining the world of multi-currency and cross-border payments. At its core, Rapyd enables businesses to seamlessly send, receive, and process payments across 190+ countries. With Rapyd, businesses can access a vast network of local and alternative payment methods, facilitating global transactions with ease. Rapyd offers comprehensive disbursement capabilities, allowing businesses to execute payouts globally as effortlessly as local transactions. The platform offers card issuing and FX services, tailored to meet the needs of global and complex enterprises.

Rapyd VS Airwallex

Rapyd is a unified global payments platform, offering a wide range of financial services to accept, hold and send funds. Known for our extensive global network, Rapyd offers businesses the ability to simplify complex financial processes, with typical customers reporting a 70% reduction in manual effort by team members. 

Airwallex offers similar products to accept, hold and send funds. So what makes these two fintechs different? It’s all about the network. 

Check out this Airwallex review and side-by-side Rapyd comparison exploring everything from Airwallex fees to the breadth of Airwallex countries and Airwallex currencies covered.

Competitive Analysis Services & Offerings

Competitive Analysis Services & Offerings table

Why Rapyd Stands Out in the Global Payments Landscape

Throughout this review, Rapyd emerges as a major force, especially for industries with complex payment demands like online gaming, online travel, and affiliate marketing. 

Rapyd’s platform offers high authorisation rates for these industries, ensuring reliable payment experiences. 

Rapyd vs Airwallex: Which is Better for Global Payments?

Rapyd and Airwallex both offer multi-currency transactions, card issuing and global accounts. However, Rapyd’s edge lies in its extensive payout network, enabling payouts in any non-sanctioned country through various methods, including bank transfers, real-time networks, third-party ewallets and card payouts. Rapyd’s card payouts push instant fund transfers to Visa and Mastercard holders globally, 24/7/365. This feature is invaluable for industries like online gaming, where fast payouts enhance customer engagement.

Chart: Rapyd vs. Airwallex

What Makes Rapyd Unique?

  • White Label Payouts: Don’t just move money, make money. Generate revenue by creating your own payout solution. Rapyd’s white-label payout solution can enable you to earn additional revenue when you use our platform to send funds. 
  • Unmatched Global Reach: With Rapyd, you can send payments to any non-sanctioned country in the world. Rapyd offers faster, cost-effective payments through local clearing and real-time transactions. 
  • Versatility in Payouts: Rapyd supports a variety of payout methods. From bank transfers and real-time payment networks to third-party ewallets and card payouts, you can optimise every transaction for cost, speed and convenience. Our card payouts via Visa Direct and Mastercard Send enable businesses to send funds quickly to credit or debit cards, ensuring real-time payments around the clock, every day of the year.
  • Choose to Be In or Out of the Flow of Funds: Rapyd’s extensive global licensing offers flexibility for businesses, whether they choose to stay in or out of the funds flow. Most financial service providers do not offer this option which can limit growth, decrease efficiencies and increase risk. 

Airwallex’s Limitations

  • High Fees: A significant drawback of Airwallex is its fee structure. The prohibitive pricing model can charge annual fees exceeding $60,000. Airwallex generates a great deal of its revenue – and profit – from the numerous “other” fees that it charges including, onboarding, platform, disbursement, transaction and FX fees.
  • Limited Global Reach: This limitation can be a major hurdle for businesses looking to expand their operations in less commonly served regions.
  • Incomplete Service Range: While Airwallex provides a range of services, some businesses may find gaps in their offerings, including gaming, online travel and affiliate marketing businesses. Rapyd has tailored solutions for these industries. 
  • Limited Payment Acceptance Options: With very limited payment acceptance options, Airwallex ensures that businesses will need to work with different payment providers to accept payments. In addition to a full suite of disbursement options, Rapyd also offers numerous payment acceptance options such as hosted checkout pages, APIs and iframes that can be embedded into your existing payment pages. 

With Rapyd, companies can enjoy broader reach, more payment and payout methods and tailored services that grow with their needs. Rapyd not only meets the current demands of global financial transactions but anticipates and adapts to future trends, ensuring businesses are always at the forefront of financial innovation.

Rapyd Complements Your Existing Payments Solutions

You can rely on Rapyd for all your global payment processing needs or add Rapyd to your existing payments stack. Our platform is designed to complement and enhance your existing systems. With Rapyd, you gain the advantage of a powerful global payments infrastructure that works in harmony with your other payment service providers(PSPs).

Learn More About Rapyd’s Comprehensive Global Payment Solutions.

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