PaySafe launches ‘US Rapid Transfer’ seeking to deliver instant conversion dynamics

Advancing its US position, digital payments technology firm PaySafe Group has confirmed that it will launch its ‘Rapid Transfer’ product through subsidiary Skrill USA.

An established product within 18 European countries, Rapid Transfer is Paysafe’s ‘proprietary built’ instant bank transfer technology, which allows merchants to offer ‘instant secure onsite transactions’, increasing all-around customer conversions.

In addition to facilitating merchant payment capacities, Rapid Transfer enables digital consumers to seamlessly upload funds from their online bank account to their Skrill digital wallet.

Launching Rapid Transfer within the saturated US payments scene, Paysafe states that it seeks to bring ‘alternative transactional arrangements to US consumers who prefer  the security of online banking to standard credit card transactions.

The payment technology group points to its in-house ‘2018 Lost in Transaction’ research which details that /a third of US consumers (30%) have ecommerce fraud concerns, reassuring these customers through secure payments services has become commercially important for merchants’.

Commenting on proceedings, Lorenzo Pellegrino, Chief Executive of Rapid Transfer at Paysafe Group, said:

“Our Q4 2018 research reveals that only a fifth of smaller US online merchants (22%) offer direct bank transfer. This suggests there is significant space for Rapid Transfer’s growth in the US market, especially considering the product’s benefits for card, not present merchants and their customers as well as its strong uptake across Europe.”

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