Rapyd Wallet Architecture
Rapyd offers multiple solutions for moving money. The Rapyd Wallet is the centerpiece.
Money In
To get money into your Rapyd Wallet, you can initiate an action with Rapyd Collect, or you can connect a Virtual Account to it, enabling banks anywhere in the world to transfer money in.
Rapyd Collect - Initiated by the client using Rapyd's platform. See Rapyd Collect.
Virtual Account - Pushed to your Rapyd Wallet by a bank anywhere in the world. See Virtual Account.
Hold Money
Your Rapyd Wallet can hold funds in many different currencies. Each currency account holds several balances for accounting purposes. For more information, see Wallet Balance Types.
At the end of each accounting cycle, your accounts are reconciled and funds are settled to your own bank account. Reconciliation and settlement reports are handled through the Client Portal. For details, see Reports.
Money Out
With Rapyd Disburse, you can pay employees, suppliers, and other vendors. With Rapyd Card Issuing, you can issue a card to the Rapyd Wallet, and you or your employees can make purchases directly from it.
Rapyd Disburse - Use the Payments platform to initiate payout transactions. See Rapyd Disburse.
Rapyd Issuing - Issue cards that are funded by the Rapyd Wallet. Holders of these cards are approved contacts associated directly with the wallet. The cards function just like any other bank card - the cardholder initiates the transaction. See Card Issuing.