It is already a known fact that having a solid and reliable payment gateway on your website is key to not losing money during checkout on your website. If you don’t act now on your payment processor for your website, you will keep losing both money and paying customers.
In this article, I will be showing you how to setup the Rapyd payment gateway on your website to maximize your website earnings. Before we get started, a brief description of the Rapyd payment processor.
What is Rapyd?
Rapyd is a Fintech company headquartered in London, United Kingdom. They are a multi-national payment gateway processor and as a result of that growth, they cover and accept payments to and from many countries.
READ ALSO: How To Set up Payment Gateways on Your Website
List of Countries Where Rapyd is Available:
- Andorra
- Australia
- Austria
- Belgium
- Bosnia and Herzegovina
- Brazil
- Bulgaria
- Canada
- Chile
- Colombia
- Croatia
- Cyprus
- Czech Republic
- Denmark
- Dominican Republic
- El Salvador
- Estonia
- Finland
- France
- Georgia
- Germany
- Gibraltar
- Greece
- Greenland
- Hong Kong
- Hungary
- Iceland
- India
- Indonesia
- Ireland
- Israel
- Italy
- Japan
- Latvia
- Liechtenstein
- Lithuania
- Luxembourg
- Macedonia
- Malaysia
- Malta
- Mexico
- Moldova
- Monaco
- Montenegro
- Netherlands
- New Zealand
- Norway
- Peru
- Philippines
- Poland
- Portugal
- Romania
- San Marino
- Singapore
- Slovakia
- Slovenia
- South Africa
- South Korea
- Spain
- Sweden
- Switzerland
- Taiwan
- Thailand
- Turkey
- United Kingdom
- United States of America
- Vatican
- Vietnam
- Virgin Islands (US)
Rapyd Payment Partners & Integrations
1. PrestaShop Payments Plugin
You can add the Rapyd payment gateway to your PrestaShop Website.
2. Shopify Payments Plugin
You can add the Rapyd payment gateway to your Shopify Website.
3. WooCommerce Plugin
You can add the Rapyd payment gateway to your WooCommerce Website.
4. Wix Payments Plugin
You can add the global Rapyd payment gateway to your Wix Website.
READ ALSO: Open A Stripe Business Account | Fast and Easy Stripe Verified Account
Rapyd vs Stripe
Both payment gateways are global payment processors and can help you maximize your website checkout system. But there are still a few differences you should know between Stripe and Rapyd.
| Differences | Rapyd | Stripe |
| Location (Headquarters) | United Kingdom | United States |
| Pricing | 1.9% + €0.25 (European Cards) & 2.9% + €0.30 (Non-European Cards) | 2.9% + $0.30 (US cards) & 3.9% + $0.30 (Non-US cards) |
| Tax | Auto Payments and Tax Complaint | Auto Payments and Tax Complaint |
Rapyd Account Setup Requirements
To create a Rapyd business account and start accepting payments with it on your website, you will need the following things to be ready:
1. A United Kingdom Business Registration Documents
2. A United Kingdom Bank Account (For Withdrawals)
3. A United Kingdom Phone Number
Now, Let me walk you through how to get these things ready for your business and how to open a Rapyd account from anywhere you are in the world.
Get A United Kingdom Business Registration Document For Your Business
To register your business in the UK, all you need to do is visit 1st Formations and select the type of package you want for your business, and then allow them some days to process your documents and complete your business registration.
Remember to include all the necessary business documents in the package selection so you don’t have to repeat any process twice.
Get a United Kingdom Bank Account
You will need a UK bank account to be able to withdraw your money from Rapyd; But don’t worry, you do not have to be a citizen or fly to the United Kingdom before you can have a UK bank account.
All you need to do is visit: Payoneer Bank and create a free account with them, get your account details and connect it to your Rapyd account and also to your local bank account.
Get a United Kingdom Phone Number
There are so many platforms where you can buy a UK phone number if you live outside of the United Kingdom; We recommend you get one from 1st Formations as well, they have everything you will ever need to register and run your business in the UK.
SEE ALSO: How To Open A Verified USA PayPal Business Account 2022 (Available Worldwide)
How To Open a Rapyd Account And Verify Your Business with Rapyd
Now that you have successfully registered your business with 1st Formations and have gotten all the required documents, you can now open a Rapyd account for your business and verify it easily with the following step by step guidelines below:
Step 1: Create an Account with Rapyd
Visit Rapyd Payment Website and click on ‘Get Started‘ to start your account creation process.
Fill out the sign-up form and your account will be created for you immediately.
Step 2: Active Your Account with Your Business Documents
Without activating your business account, your activities will be limited to a maximum of 2,500 and you won’t be able to do so much with the account, so it’s very necessary to activate your account using the documents you got for your business registration.
The required documents to activate and verify your Rapyd account will vary from country to country. You might be asked to provide verification documents such as articles of incorporation, organizational structure, proof of address and etc.
If you have registered your business earlier as I instructed, you should be good to go here.
Step 3: Add your United Kingdom Bank Account
Go to the ‘My Account’ section of your dashboard and enter your Payoneer Bank Details for your withdrawals.
That’s all you need, to set up a working Rapyd payment gateway on your website.
How To Integrate Rapyd Payment Gateway on Your Website
At this point, it all depends on what CMS your website is built with, If your website is built with any of these CMS: WooCommerce, Shopify, Wix, PrestaShop; then all you need to do is install the Rapyd plugin or add-on into your website and activate it using your Rapyd account details. Everything will be set up automatically.
If however, your website is not built with any of these CMS, then you should contact a developer to manually integrate the gateway into your website using your Rapyd account details.
READ ALSO: Introduction To Dropshipping | Beginner’s Guide
Other Payment Gateway Providers
Other payment gateway providers you should consider using on your website include:
- Stripe
- PayPal
- PayU
- 2Checkout
- Flutterwave, etc.
Conclusion
Like I will always say, “A quality payment gateway on your website is far better than anyhow payment processor and will make you more money while boosting your customer trust towards you as a business“.
Let us know in the comment section if this post was helpful to you and also, feel free to ask us any questions you may have about this subject. Over to You!!
Remember to Share this Post right now on social media to help others improve their businesses online. Shay Sharp!!!
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