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.
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 It is a huge improvement over the old, outdated payment solutions that are available in Canada.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.
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 It is a huge improvement over the old, outdated payment solutions that are available in Canada.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.
Pros 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.
Cons There have been a few hiccups with a few payment transfers to some users but this has only happened in very rare circumstances. The support team has always been quick in helping resolve any issues.
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.
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.
Pros 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.
Cons I haven't encountered any down side really. Maybe the debit transfer (pushing money rather than pulling) could be better but this is not their problem really, mostly a great way around to help their clients.
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.
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.
Pros 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.
Cons The backend interface could use some improvements ; it can sometimes be difficult to find the information you look for.
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.
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.
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.
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.
FAQs for Payment Rails
Below are some frequently asked questions for Payment Rails.
Q. What type of pricing plans does Payment Rails offer?
Payment Rails has the following pricing plans:
Starting from: $49.00/month Pricing model: Free, Subscription Free Trial: Available (No Credit Card required)
Q. Who are the typical users of Payment Rails?
Payment Rails has the following typical customers:
Large Enterprises, Mid Size Business, Small Business
Q. What languages does Payment Rails support?
Payment Rails supports the following languages:
English
Q. Does Payment Rails support mobile devices?
Payment Rails supports the following devices:
We do not have any information about what devices Payment Rails supports
Q. Does Payment Rails offer an API?
Yes, Payment Rails has an API available for use.
Q. What other apps does Payment Rails integrate with?
Payment Rails integrates with the following applications:
Xero, ActiveCampaign, Mailchimp, Shopify, FreshBooks, Wave, Zoho Books, QuickBooks Online, Infusionsoft, Constant Contact, Klipfolio, Stripe, PayPal, Google Docs, Google Calendar, Slack, Gmail, Zapier, QuickBooks
Q. What level of support does Payment Rails offer?
Payment Rails offers the following support options:
Knowledge Base, Online Support, Phone Support, Video Tutorials
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