In recent years the UK has observed an increased number of merchants wanting to expand internationally with 90% of UK merchants stating that international expansion was a top priority. For businesses to see success, it’s crucial to offer local payment methods to meet customer expectations, reduce cart abandonment and increase customer loyalty.
This trend is set to continue with many UK merchants looking to circumvent a decline in consumer spending in this market due to the ongoing cost-of-living crisis.
With this in mind, we shine a spotlight on five payment platforms that have led the way in features and innovation.
Adyen
Founded in 2006 in The Netherlands, Adyen provides leading businesses around the world with a platform that handles end-to-end payments, data, and financial management in a single solution. With over 26 offices around the world, Adyen has grown an impressive client base with names including Facebook, Uber, H&M, eBay and Microsoft.
Although Adyen has only been in operation for less than 20 years, it has been through significant milestones, from obtaining international licenses and opening offices globally to adding features such as point of scale (POS) to its service offerings. Its most recent milestone was the launch of two SME-focused embedded finance products, ‘Capital’ and ‘Accounts’. Innovations like this further show that Adyen continues to lead the way in payment platforms, especially with international features.
Rapyd
Founded in 2016 in London, Rapyd is a payment platform, or ‘Fintech-as-a-service’, that simplifies and advances commerce in every market by inserting fintech services into any app and simplifying the complex offering of local payment methods. This integrated program was created after identifying a need to provide companies with a method to expand internationally and create fintech applications without any stress.
Even though Rapyd is relatively new to the scene, it has continued to lead the way in innovation by teaming up with space enthusiast William Shatner and launching a ‘Hack the Galaxy’ competition for Rapyd members to win a chance to travel in one of the first-ever carbon-neutral space flight in 2026 through virtual challenges. Most recent news includes the launch of a new multi-currency Treasury Solution for cross-border payments, proving to be an all-in-one solution for SME’s and enterprise businesses.
Kapaga
Founded in 2020 in London, Kapaga was launched with a mission to support SMEs with their ambitious expansion plans. Through a secure and transparent dashboard, customers can send and receive borderless payments from over 150 countries seamlessly with transparent currency exchange.
SMEs financial services provider Finom recently acquired Kapaga for a deal worth over £10m, allowing Finom to fold Kapaga into its platform. This merger will allow Finom to bring together both services for freelancers, SMEs and corporate clients across the UK and Europe, boosting its expansion plans. This acquisition solidifies both companies’ goals of providing the best payment services for the UK and Europe.
Worldpay
Worldpay from FIS Global provides payment services to merchants and financial institutions from retailers and eCommerce brands to government and B2B services. Offering a seamless experience, Worldpay accepts over 300 payment methods in 126 currencies and supports over one million merchants globally.
Continuing to be one of the biggest names in the payments platform space, Worldpay offers a large variety of services to suit small to large businesses, including Tesco, LVMH, Boost Payment Solutions and Cork City Football Club.
Skrill
Founded in 2001 in London, Skrill is a platform that makes digital payments simple, secure, and quick for both consumers and businesses, wherever and for any reason. A premium partner with Global Payments Solution, Skrill continues to grow its customer base in new ways such as offering instant free payments at top betting sites as well as partnering with Leeds United Football Club to introduce football fans to the app.
Acquired by Paysafe in 2015, Skrill continue to lead the way in digital payments through new partnerships, loyalty programs, low exchange rates and making Skrill easily accessible through an easy-to-use app as well as being compatible with Apple Pay.
If you’re a business that focuses on payment solutions and are looking to implement a PR strategy, why not get in touch with our team of finance and fintech experts today?
