Payment Rails' platform is a cross-border, multi-currency payment platform for online marketplaces, sharing economy companies and more

Country : Canada                                                                                                                              aaeaaqaaaaaaaakqaaaajdizmwvjzwfmltnhzjetndg4oc05njq5ltuzm2jjmwiyogvmyg
Launched: 2015
Payment Rails is a cloud technology platform that enables businesses to send payments to individuals or companies anywhere in the world, in any currency, and via all major payment methods

Concept

  • Payment Rails platform gives users access to a global network and the ability to use their own accounts for plug and pay
  • This application creates the opportunity to reach new markets and use own accounts to pay in any currency
  • Industries cited on Payment Rails’ site includes sharing economy companies, online marketplaces, ad networks, crowdfunding sites and growing businesses
  • Payment methods include: global bank transfers, Visa or Mastercard transfers, cash payments, checks, prepaid cards and mobile money
  • Transactions can be scheduled, automated, tracked in real-time and comply with tax and regulations
  • Payment Rails offers robust reporting and data that can be easily imported or exported as needed
  • There are no hidden or contract fees

Consumer Benefits

  • Global: consumers can pay over to 200 countries and in more than 150 currencies 
  • Financial empowerment: with payment choice to make payments to contractors, developers, employees, sellers, etc. worldwide
  • Cost control: by reducing payout costs to $0 by transferring transaction fees to their recipient. Users also have the option to subsidize to a certain limit and the recipient pays any extras based on their chosen payment method
  • Convenient: fast and secure payments that can be tracked
  • PayPal wallet option: integration for users

How To Use

  • Through Payment Rails site, users can either login or create a new account. 
  • When creating an account, users must complete their first name, last name, average number of recipients, average monthly payout, primary region and the payout methods used)
  • Opening a Payment Rails account is free and involves no commitment
  • Once the account is created, users can log in to use it at any time

Illustration

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