Berlin, Germany-based Payrails, one of the leading payment platforms catering to global enterprises, last week announced a strategic collaboration with inDrive, California-based international ride-hailing service.
inDrive is operational across over 45 countries and 700 cities, with over 200 million app downloads – making it the second-most downloaded ride-hailing app in the world.
The collaboration aims to enhance local payment experiences for drivers and customers, boosting conversion rates while reducing costs. With Payrails, inDrive is expected to overcome the challenges of integrating multiple payment service providers (PSPs) and alternative payment methods (APMs) across different regions, such as the Middle East and North Africa (MENA), and thus expand its global footprint.
According to the company, Payrails has implemented a solution featuring a PSP-agnostic integration layer, dynamic payment routing, and expanded alternative payment method coverage. inDrive achieved an 11% increase in card approval rates as part of an effort to boost conversion rates, accomplishing this in a fraction of the time usually required to launch each new integration.
Speaking of the development, Vasiliy Everstov, Head of Fintech at inDrive, in a press statement said,
“Partnering with Payrails empowers us to activate all of our key payment objectives for the business across our top priority markets. Together, we are driving tech innovation in the mobility industry and unlocking new opportunities for drivers and consumers alike.”
On the other side, Orkhan Abdullayev, Co-Founder and CEO of Payrails, noted,
“Collaborating with inDrive to revolutionize global payment processing underscores our commitment to providing innovative solutions in the MENA region and beyond that address the evolving needs of large enterprises. Our aim is to set new benchmarks of excellence for payments solutions across key industries worldwide.”
Through this alliance, inDrive can now access and automate the most suitable payment route in each market at the lowest cost, thereby driving efficiency and profitability in the industry using Payrails’ unified technology and API.
