Payrails, a prominent payment platform serving multinational corporations, has unveiled a strategic partnership with inDrive, a globally renowned ride-hailing application, to tackle the challenge of integrating multiple payment service providers (PSPs) and alternative payment methods (APMs) throughout the Middle East, North Africa (MENA), and beyond.
The collaboration is geared towards enriching local payment experiences for drivers and customers, bolstering conversion rates whilst cutting operational expenses.
At the heart of this alliance lies a ground-breaking technology aimed at transforming payment processing and operations for businesses on a global scale.
Payrails has introduced a solution featuring a PSP-agnostic integration layer, dynamic payment routing, and an extended coverage of alternative payment methods.
The unified integration layer ensures a seamless experience by offering a single API, eliminating the need for complex individual integrations.
In a bid to elevate conversion rates, inDrive has achieved an 11 percent increase in card approval rates, significantly reducing the time typically required for each new integration launch.
Vasiliy Everstov, Head of Fintech at inDrive, expressed that partnering with Payrails empowers the company to fulfil all key payment objectives across their primary markets.
“Together, we are spearheading technological innovation within the mobility sector, unlocking fresh opportunities for drivers and consumers alike,” he stated.
Orkhan Abdullayev, Co-Founder and CEO of Payrails, highlighted that collaborating with inDrive to revolutionise global payment processing underscores the company’s dedication to offering innovative solutions in the MENA region and beyond, catering to the evolving requirements of major enterprises.
“Our goal is to establish new standards of excellence for payment solutions across critical industries worldwide,” he affirmed.
Through this alliance, inDrive can now access and automate the most suitable payment route in each market at the lowest cost, thereby enhancing efficiency and profitability within the industry using Payrails’ unified technology and API.
