Payment Rails Pricing, Features, Reviews & Comparison of Alternatives

Payment Rails

Global mass payments to contractors & suppliers

4.69/5 (16 reviews)

Payment Rails overview

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
Free trial
Subscription
Value for money
View Pricing Plans

Devices

Business size

S
M
L

Markets

United States, Australia, Canada, Europe, Germany, United Kingdom

Supported languages

English
Payment Rails screenshot: View payment details for every transaction with live status trackingPayment 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 reviews

Value for money
Features
Ease of use
Customer support
  4.9
  4.9
  4.9
  4.9
Harp Dhinsa

Great Modern Payment Solution

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

Payment Rails was very easy to integrate into our current tech system and simple to deploy as a widget in our mobile apps. It is a huge improvement over the old, outdated payment solutions that are available in Canada. The dashboard is very modern with great UI/UX. The customer support team has been very helpful when needed.

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Anonymous

Solid platform, thoughtful UI, great support.

Used weekly for 2+ years
Reviewed 2018-12-13
Review Source: Capterra

Ease to enter information for a payee, easy to track all your payments, export functions, allowing multiple users (auditor, collaborators), two-person process for payouts, easy process to pull money into the platform, email receipts for payees, payment status are golden, easy user role and permissions.

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Anonymous

Solid and reliable payment processing

Used daily for 6-12 months
Reviewed 2018-12-12
Review Source: Capterra

Payment Rails is one of the most reliable solutions I have used to handle transactions from customers. Whether it be to process a payment from customers or send payouts to our sellers, the system is solid, automation works like a charm, and the implementation was pretty easy.

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John Christopher Reid

Great Product!

Used daily for 1-2 years
Reviewed 2018-11-26
Review Source: Capterra

payment rails has been great no complaints!Easy to set up and use. Payment cycles are fast for Canada.

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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.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.

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Payment Rails pricing

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

Startup: free for the first 3 months and then converts to the Grow plan

Grow: $49/month

Platform: $199/month

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

Payment Rails features

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

Accounting Management (115 other apps)
Auditing (82 other apps)
Billing & Invoicing (117 other apps)
Expense Tracking (116 other apps)
Financial Analysis (83 other apps)
Receiving (90 other apps)

Security and privacy

Encryption

Encryption of sensitive data at rest
HTTPS for all pages

Access control

Multi-factor authentication options

Data policy

Data backup in multiple locations/GEO regions
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Additional information for Payment Rails

Key features of Payment Rails

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