Looking to get started with Rapyd but unsure of where to start?
Get answers to the most common frequently asked questions our new customers and prospects have about accepting payments with Rapyd before creating your account.
Whether you’re starting your business or looking to expand globally, Rapyd can help you reach more people worldwide and accept the payment methods your customers already trust. Don’t see what you are looking for? Find more answers in our knowledge base.
The Top 10 Rapyd FAQs from New Customers
Table of Contents
Does Rapyd Support Businesses Located in My Country?
To create a Rapyd account, your business must be domiciled in one of over 70 countries currently supported on our platform. See if your country is supported at our Network Counties and Payments page at www.rapyd.net/network/countries-and-payments/
The countries supported by Rapyd Payment Plugins for ecommerce platforms may vary. Use the links below to see if your country is supported:
Countries Supported by Rapyd Payment Plugins:
- WooCommerce Payment Plugin
- Shopify Payment Plugin
- Wix Payment Plugin
- Magento Payment Plugin
- Ecwid Payment Plugin
What Countries Can I Collect Payments From Using Rapyd?
Collecting Payments Online
Rapyd allows you to collect online payments from customers in over 100 countries worldwide. A complete list of the countries where you can collect payments can be found on our Countries and Payments page.
Hover over a country on the list to see what payment methods and services are offered.
What is Rapyd’s Cost and Fee Structure for Payments?
There’s no up-front cost to start collecting payments with Rapyd.
Rapyd Collect charges a simple low fee for each transaction processed. The fee may vary based on your business location and payment methods used.
Pricing for Rapyd Collect
Americas
- All Payment Methods: 2.90% + $0.3
Asia-Pacific
- All Payment Methods: 3.25% + 0.3 SGD
EU and UK
- European Cards: 1.2% + €.30
- All Other Payment Methods: 2.9% + €.30
Iceland
- European Cards: 1.4% + 15 ISK
- All Other Payment Methods: 2.90% + 15 ISK
Foreign exchange fees may apply.
How Do I Activate My Rapyd Account?
After you sign-up, you will have limited functionality and will not be able to transfer funds out of your Rapyd account until your account is activated.
To Activate Your Account and Remove Limitations:
Complete and submit the Know Your Business (KYB) questionnaire. The KYB questionnaire can be found in the client portal, on the left side menu under Activate Your Account.
Once your KYB questionnaire is submitted and approved you will be able to transfer the funds you collected to your bank account, remove account limits, and utilize additional Rapyd Products.
How Long Does the KYB Approval Process Take?
Once you submit your KYB application, our compliance review and approval can take up to 30 days.
How Can I View All of Rapyd’s Payment Methods?
To see payment methods, sign up for a Rapyd Account. Then find a full list of payment methods in the Client Portal by visiting My Account > Settings > Payment Methods. Click payment methods to view the list.
How Do I Add Additional Payment Methods to My Account?
In the Client Portal, navigate to Setting > Payment Methods.
Payment methods that aren’t activated for your account will be listed under “No Access”. Make sure Sandbox Mode is toggled off to see Payment Methods available to you.
To request access to a payment method, navigate to My Account > Settings > Payment Methods > No Access > Then click the three dots at the end of the row > Request Access.
How Long Does it Take to Get Paid Through Rapyd’s Settlement Process?
You can transfer money from your Rapyd Wallet to your bank account and have the funds available the next day in many cases.
However, the amount of time it takes for a payment to be deposited into your Rapyd Wallet is dependent on the payment method. Different card networks, ewallets and banks have their own processes that Rapyd can not control.
Here are typical times for a payment to be processed and deposited into your Rapyd Wallet.*
- Credit Cards: 1 to 2 days
- eWallets – 1 to 3 days
- Bank Transfer – 3 to 5 days
* Processing times are averages and may not represent the actual amount of time it will take for an individual payment to process and be available in your account.
Are There Businesses or Industries that Rapyd Does Not Permit?
Yes. Rapyd maintains a list of Restricted and Prohibited businesses. Check this list before creating an account.
If you create an account and engage in any of the activities on our prohibited or restricted lists, you may be unable to fully activate your account and may risk losing access to funds from payments transacted on our platform.
What’s the Best Way to Ask Questions and Find Answers from Other Coders Developing Fintech Applications using Rapyd?
Join the Global Fintech Developer Community for open conversation, pro-talks, hackathons, events and more. community.rapyd.net
Still have questions? Check out our knowledge base for in-depth answers and guidance to get started and get the most from Rapyd.
Ready to Get Started with Rapyd?
Create your Rapyd account, then explore all our capabilities and payment methods available. With the ability to accept credit and debit cards, plus hundreds of local and alternative payment methods worldwide, Rapyd is the easiest way for businesses to reach more places and more customers worldwide.
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