Global fintech firm, Rapyd, has announced the publication of a new Total Economic Impact study conducted by Forrester Consulting, which revealed that embedded local payments go beyond cards and traditional payment methods.
The study evaluated the cost savings, business benefits, risks, and flexibility of implementing Rapyd’s solutions and determined the Return on Investment for a composite organisation to be 196% over three years.
It comes as local payment methods and integrations have become critical for businesses seeking to win over users internationally.
“Tapping into local markets across the globe has become a must-have for enterprise, and while the decision may be easy, the task itself is massive,” commented Arik Shtilman, CEO and Co-founder of Rapyd. “At Rapyd, we think ‘local’ so companies can easily go global, and while the findings of the study come as no surprise to us, it is astounding to see the value that our Fintech-as-a-Service can bring to our clients and their users”.
The findings of the study are based on interviews with companies from the US, Europe, APAC, and Latin America in order to evaluate the impact Rapyd could have on a business over a three-year period.
Furthermore, they also revealed that ‘reduced failed payments led to more positive customer experiences. In today’s global environment, any firm regardless of its size needs to be able to seamlessly send and receive payments locally and across borders. Companies said their organisations saw a reduction in failed payments when using Rapyd’.