Canadian technology startup Payment Rails has rolled out an application programming interface (API) -enabled global business payments platform.

The platform allows businesses to send payments to more than 220 countries and in over 135 currencies, without any setup fees, monthly minimums or long-term contracts.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The platform utilises blockchain and Ripple to optimise treasury and liquidity management. It also makes use of artificial intelligence (AI) and machine learning to optimise payment routing, and for fraud detection.

Payment Rails co-founder and chief product officer Ferhan Patel said: “Our platform provides the same level of treasury services you’d expect from your bank, but with a fintech level focus on the user experience.

“We also offer a disruptive way to send international payments, by bypassing costly bank wires, offering access to local banking and real-time payment networks, which can significantly reduce transactional costs by up to 80%.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.