Rapyd Stock

Rapyd, the fintech-as-a-service startup that provides APIs to enable payments, card issuing, digital wallet and other financial services to companies like Uber and Ikea, is taking a significant step forward in its growth with a big acquisition: It is paying $610 million to acquire a giant piece of PayU — the payments group of internet giant Prosus that focuses on emerging markets.

The Rapyd Splitit partnership will enable businesses around the world to deliver seamless installment payments to their shoppers with access to Rapyd’s extensive global payments network. The partnership will bring Splitit’s Installments-as-a-Service platform to Rapyd’s extensive network of merchants and marketplaces, making it possible for businesses anywhere to adopt Splitit’s one-of-a-kind white-label, card-based installment platform, offering customers a quick checkout experience and the highest approval rates.

41% of global organisations believe that international business expansion is imperative to ease their current trading concerns. That’s according to a new study released by global fintech-as-a-service partner Rapyd, which shows that a sizeable contingent of cross-border businesses are looking to double down on their growth ambitions as the best remedy for the economic headwinds facing them, despite mixed levels of business optimism.