Worldpay has extended FastAccess, a platform that enables real-time payouts, to more than 50 countries across North America, Europe and Asia. The solution enables seamless card-based payouts to be made within a maximum of 30 minutes.
The updated offering combines FastAccess with the Worldpay Bankout solution, which now operates in 154 markets. Worldpay provides seamless cross-border payouts for businesses in local currencies, eliminating the need for multiple international bank transfers.
“As more and more companies send payments at lower values, cross-border, it will become a competitive differentiator to send quicker payouts to consumers and inexpensive disbursements to vendors and suppliers,” said Shane Happach, EVP and Head of Global Enterprise eCommerce at Worldpay, in a statement. “It is estimated that by 2025, the sharing economy will generate Europe-wide revenues worth over €80 billion [$92.7 billion] and facilitate nearly €570 billion [$660.6 billion] of transactions. At the heart are seamless, transparent, secure payouts, which can be made via card, mobile wallet or bank transfer in any currency, anywhere in the world.”