Payment Rails Pricing, Features, Reviews & Comparison of Alternatives

Payment Rails

Global mass payments to contractors & suppliers

4.63/5 (32 reviews)

Payment Rails overview

What is Payment Rails?

Payment Rails is a global payment platform for sending business payments to customers, contractors, suppliers, collaborators, and any other business partner. The cloud-based tool facilitates payments to individuals or companies internationally to over 200 countries, and in any local currency. Payment Rails automates tasks such as collection and validation of transfer information and mass payment distribution with the aim of simplifying the accounts payable workflow.

Payouts can be planned and executed within Payment Rails, with tools for facilitating global bank transfers, SWIFT bank transfers, VISA and MasterCard credit or debit card transfers, and mobile money transfers such as M-PESA, AirTel Money, and more. Businesses can transfer payments to individuals, such as customers, or other businesses, in over 200 countries using Payment Rails’ access to global and localized banking networks. Onboarding and verification is carried out automatically in the Payment Rails platform, and any fraudulent or suspicious users are flagged using the AML watchlist screening tool.

With Payment Rails, businesses can manage their payment recipients with online forms to capture bank account details, customizable white-label email reminders and confirmations, automatic validation of bank details, and returned payment management. Payments can also be tracked in real time so that senders and recipients are both aware of which stage of the transaction a payout is at.

Tax compliance can be managed within the Payment Rails platform with automatic management of digital tax form collection, withholding calculations, year-end tax reporting, validation, and more. In order to avoid errors and ensure compliance, tax withholding calculations are carried out automatically, and recipients are able to fill out digital W-8 or W-9 forms with real-time rules validation.
www.paymentrails.com

Pricing

Starting from
$49/month
Pricing options
Free
Subscription
Free trial
Value for money
View Pricing Plans

Devices

Business size

S
M
L

Markets

United States, Canada, United Kingdom, Australia, Germany

Supported languages

English
Payment Rails screenshot: Create recipient profiles including payment and compliance information Payment Rails screenshot: View recipient lists for all current and previous payouts, with payment status updates Payment Rails screenshot: View payment details for every transaction with live status tracking

Payment Rails reviews

Value for money
Features
Ease of use
Customer support
  4.8
  4.8
  4.8
  4.9
Jordan Squire

Active Client - Construction Marketplace

Used weekly for 6-12 months
Reviewed 2018-11-27
Review Source: Capterra

I am happy with how Payment Rails has assisted in the growth of our company. The reliability of funds being deposited into our customers accounts on a weekly basis has only being getting better. After a few rough weeks with payment batches being delayed, the Payment Rails customer success managers have really stepped up and made sure those issues didn't repeat themselves.

Pros
Ease of use for our customers to log their direct deposit information through the PR plugin, CSV upload for payout to customers (no more manual logging of individual's payout), and (now most recently) customer access to view pay history.

Cons
Inability to know if funds have been deposited or not into a client's account. Which is a universal issue on all payment platforms.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Anonymous

PR supported us through many transitions and every step of the way

Used monthly for 1-2 years
Reviewed 2019-06-13
Review Source: Capterra

Overall, our experience has been great. The team is responsive and supportive to our many demands and questions. They're knowledgable and always eager to help. They've updated things and helped us address issues. Great group of folks that go above and beyond to help us get started - I highly recommend their services.

Pros
Payment rails makes payments easy with a robust API that works across borders. They also handle tax compliance and have a knowledgable team that's always ready to help. They've helped us multiple times throughout the two years we've been working together. We went from being a customer (and a demanding one!) to a partner who's constantly referring leads. It's been a long ride but PR really stuck with us and helped us through thick and thin. Work with them if you have a chance!

Cons
Compliance but it's really not their fault. Financial services is a regulated industry. PR did what they could but compliance requirements are unique by industry. If anything, we're very grateful to PR for helping us through the legal whenever possible.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Gilles Yvetot

Good but can become better !

Used daily for less than 6 months
Reviewed 2018-11-27
Review Source: Capterra

Pros
The features like the tax form or the widget !

Cons
Reliability, we still find bugs but their customer support is on top to fix them

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 7/10

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Luis Serra Garcia

Payment Rails Beatchain

Used daily for less than 6 months
Reviewed 2020-04-07
Review Source: Capterra

Pros
What we liked the most is the ease of use of their APIs and specially their widgets which are super easy to integrate with and set up.

Cons
The documentation could use some improvements. It would have helped to have some more higher order docs around payment and recipient status and the different possible flows that we could encounter. The webhooks portal could also use some improvements like a more granular selection of events to listen to, a UI to be able to test the different webhooks that can be trigger and its payloads, and some reporting tools to be able to monitor them.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

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Anonymous

Great system - easy to use!

Used monthly for 2+ years
Reviewed 2019-11-15
Review Source: Capterra

We pay content creators at mass and Payment Rails helps us do so easily.

Pros
Super easy to use and the interface is very customer friendly. The customer support team is very friendly and helpful.

Cons
We were a beta customer and experienced a lot of hiccups in the beginning. There were many issues with payments not being received on time or not sending but over time, we were able to iron out these issues as the product got better.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

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Payment Rails pricing

Starting from
$49/month
Pricing options
Free
Subscription
Free trial
View Pricing Plans

Grow: $49/month
Platform: $199/month
Enterprize: from $500/month

Transaction fees are also added to payments. Contact Payment Rails for more information.

Payment Rails features

API
Accounting Integration
Activity Dashboard
Audit Trail
Automatic Notifications
Compliance Management
Customizable Reporting
Data Import/Export
Electronic Payments
Invoice Management
Invoice Processing
Multi-Currency
Real Time Data
Reporting & Statistics
Third Party Integration
Workflow Management

Accounting Management (181 other apps)
Billing & Invoicing (186 other apps)
Expense Tracking (164 other apps)
Financial Analysis (130 other apps)

Security and privacy

Encryption

Encryption of sensitive data at rest
HTTPS for all pages

Access control

Multi-factor authentication options
This will ask you to sign in with LinkedIn

Additional information for Payment Rails

Key features of Payment Rails

  • Email / newsletter communication
  • White label emails
  • Returned payment management
  • Live payment tracking
  • Bank account validation
  • Instant payments
  • Accounting Integration
  • Activity Tracking
  • Audit Trail
  • Automatic notifications
  • Automatic Reminders
  • Bank Reconciliation
  • Cash Mangement
  • Compliance management
  • Configurable Workflow
  • Custom forms
  • Customizable branding
  • Customizable Reporting
  • Data Import
  • Data Synchronization
  • Document Review
  • Document storage
  • Electronic payments
  • Email notifications
  • Forms management
  • Invoice Management
  • Invoice Processing
  • Multi-Company
  • Multi-country
  • Multi-currency
  • Multi-Location
  • Partial Payments
  • Permission management
  • QuickBooks Integration
  • Real Time Data
  • Real Time Notifications
  • Real Time Reporting
  • Status Reporting
  • Status tracking
  • Third Party Integration
  • Tracking features
  • Transaction History
  • Two-factor authentication
  • Workflow Management
  • Activity Dashboard
  • Transfer management
  • Risk alerts
  • Currency conversion
  • Data Import/Export
  • PCI DSS compliance
  • Sales tax management
  • API
  • Email templates
  • Role-based permissions
  • Document Approval
  • Electronic signature capture
  • Synchronization Management
  • Approval Process Control
  • Email Invitations & Reminders
  • Customizable Approvals
  • Bounce tracking
  • Reporting & Statisics
  • ACH Payment Processing
  • Internal Controls Management
  • Access Control
  • Monitoring
  • Widgets
  • Document Management
  • Administrative Reporting
View All Features

Benefits

Manage payouts to over 200 countries to suppliers, contractors, collaborators, donors, customers, or any other individual or business, and in any currency, with automatic currency conversion.

Allow businesses or individuals to provide their bank details via a custom form by embedding the recipient widget into the business website. Details are then automatically added to the Payment Rails database and recipients can be managed securely.

Track payouts in real time with live payment tracking which provides updates on status including “payment initiated”, “payment method setup”, “compliance screened”, “submitted to bank”, and “processed by bank”. Instant payments can also be setup.

Monitor and prevent risks and fraudulent transactions with Payment Rails’ screening tools which can identify and block fraudulent accounts with automatic screening against Anti-Money Laundering (AML), Counter Terrorism Financing (CTF), and other global watchlists.

Ensure compliance with automatic tax deduction calculations and other compliance measures, and control security with features such as tokenization, data encryption, two-factor authentication, user role-based permissions, and more.