Rapyd U Office Hours: Payment with FX

In this video, you’ll learn about Rapyd, fintech payments, and a short demo using Postman. Follow along as we complete a Payment with FX, Checkout Page with FX, and Create a Wallet.

00:00
hey uh welcome everyone I just wanted to open up this time as an AMA asked me anything thanks for joining I’m just going to run through just a basic overview and and slides and maybe go through examples right now we’re in the rapid developer community and we’ve been building this over the past couple years and it’s been growing now we have about in our discourse Forum about over 50 000 developers um and yeah just amazing um community of developers focus on fintech but really building the world’s

00:38
Financial ecosystem and so let me go ahead and move to the next slide there we go and so I just wanted to open up with uh you know what are payments um it’s and really understanding payments uh you know helps helps grow businesses um and so we used to think of really payments as a cost um businesses had to pay transaction fees to do business online but now you know with the rise of apis in fintech as a service really uh everything has changed so payments are now a way to grow your Revenue grow your business just with one integration you

01:25
know one API call that can be easily added and that means uh you know for more businesses it means more payment methods where they can accept you know cross-border especially this is where it’s so can be so crucial in in growth and it’s what we’re seeing now we’ll share you know over the course of uh this year more and more stories of businesses growing because of API Integrations and developers are absolutely essential to that and so let me head again to the next slide and so I wanted to break down

02:04
just this evolution of payments of fintech and so first you know before the internet you had obviously uh you know just uh in person a lot of brick and mortar uh you know cash register and then kind of going into uh POS the point of sale which also needed uh internet connection you know when that ever we all experienced when that was down uh they are accepting currently cash only or uh to maybe hold your credit card information until that gets backed up but then we started making purchases online um you know the infrastructure started

02:46
to move towards the cloud and then of course Mobility uh we see even on certain days like maybe Black Friday or just growing audience of uh more mobile purchases and more apps and more mobile-friendly websites and of course now mobile is leading in in so many areas with payments and then the next phase uh we’re believing where we really see is rapid now you think okay is rapid the center of the world no we’re not saying that but really rapid is an idea it’s really this idea of fintech of it as a service

03:30
uh it’s this idea of the whole payment infrastructure um just being surrounded and in the idea of embedded Finance coming along businesses uh to create multiple services and with all-in-one uh integration all-in-one API and we can see that uh here just a breakdown of Rapid services and so with a single point of integration and this is really our mission we say to liberate Global Commerce and we have uh different platforms here um we have uh rapid collect of course that is accepting payments for anyone building in integration or working with

04:21
rapid rapid disperse being able to pay out to anyone or you know contractors workers and build that integration rapid wallet which is really the the secret sauce of being able to hold funds and build your own infrastructure on top of rapid uh where you could start to build that fintech and be a part of the fintech ecosystem and then of course rapid issuing where we can issue uh certain cards uh also virtual accounts um which is uh definitely a new feature that a lot of businesses are jumping on and of course Within These platforms include a

05:04
lot of you know sub services or microservices you know identity identity verification compliance Services which is huge to be able to get started quickly without having to do it all yourself um you know settlement and Reconciliation and of course FX support and then we have all of our bank transfers um you know e-wallets all the different payment methods around the world and of course I didn’t want to forget this we do have plugins where you can integrate with Shopify you could integrate with woocommerce and get

05:45
started even quicker even as a developer you know if you are helping out different small businesses or different online shops and so really we see we call this this the rapid Global Payments Network um you know encompassing really everything that a business could a need for their payments um and of course this is so essential to include the global Dev Community um let me actually turn on my camera I do awesome there we go um welcome guys uh and so uh one thing I did wanted to mention is we do have our open API coming soon so that’s going to

06:31
be really cool for developers um to be you to utilize and yeah if you have any questions again feel free to chime in and so here really it’s the the action is to if you haven’t yet I know some of us have is to open up an account in client portal grab your sandbox keys and start working you can join the Rapid Community and and you know come alongside over fifty thousand dollar fifty uh sorry a thousand developers and yeah feel free to ask anything uh here in Discord or also our discourse uh community.rapid.net

07:20
um so what is what is really fintech you know you can say like okay you just open up a shop open up uh you know uh something that you’re building uh what is that well we wanted to break down here different sectors of fintech that rapid is really honing in on and and focusing in on and and what who rapid serves and so the first would be you know lending and financing if you want to build an app that is it you know that allows that we just do see rapid uh serve one of our just number one um you know sectors is is finance of

08:04
course a lot of money movement uh and then you know insurance Insurance Tech um uh market and exchanges this is this is pretty wide and actually this is huge so uh you know anything gig economy we see now because of the pandemic now because of the growth of uh just creative services and um you know individuals uh building their own business on YouTube on just really anything building their own audience we see now a greater you know gig economy and marketplaces for uh creative artists to be able to uh you know build their content and take

08:53
in payments um of course financial management For The Individual someone who is basically has their own platform to manage their own uh you know finances for their businesses as well as personal of course General payments and transfers between businesses between people there’s retail banking um and then a huge one is supply chain Logistics that is we see that growing um you know more companies being able to uh step up and uh not just you know build uh their network and infrastructure but partner with existing

09:35
you know supply chain companies and um you know focusing in on a niche whether it’s receive so much um uh kind of food a delivery where they’re really like the short end of the let call what we call like uh final delivery or maybe a last mile delivery uh to the customer but with every product this has so many stages um so so many opportunities for B2B and then for B to C supply chain and so this is just a quote by someone uh you know a story uh that has worked with rapid uh you know been impacted uh just a startup in

10:27
uh it’s uh in APAC region you know Singapore China and they say uh today everything is just an integration away an API call away uh the infrastructure is there and so they’re they were able to you know start up and and build this um and start accepting payments and right now they’re they’re really honing in on uh effects of cross-border and being able to expand and grow um and so really uh you know this is kind of super simplified uh as a recipe to make money uh from software uh first you want to find a service that provides

11:11
something um you know clients do on a high frequency and so I I personally I’ve seen this more and more and more uh recently is coaching even uh you know the master class we’ve seen so much of that if you jump on Facebook you’re bound or Instagram you’re bound to uh get start to get some ads for any type of coaching class or or master class or someone really wanting to be able to again provide something to their clients or to someone who is willing to learn special skill that they have now they

11:52
need to accept payments um and so but they through offering their class through offering their training they build which is number two you know they build their users collect their data collect information you know collect leads start to set appointments and then really they need to take in uh payments and so what are the platforms that are going to allow them to do that and and where and what context and how can they make that easier for their clients but also you know as they start to build users you know build an infrastructure

12:35
around their their users and you know build their wallets and any credit that their the users have they can build you know even payments Bank transfers empowering their users you know it could start to become just a class or just a master class into training equipping people to go out and do their business but then you’re empowering them with a you know a payment infrastructure you know that that you know you can um you know build this this ecosystem around them and then finally uh you know engage users in a repetitive model uh you know

13:20
cross-sell upsell uh and that gets that’s this is really the idea of as you build uh your fintech as you build uh you know whatever app you start to add more and more and more you know it’s like Uber started out as just you know one type of driver uh you know a private driving company you know and it would be a high class kind of marketed as a upscale driver driving you but then it started to do you know group rides or your ride shares where it’s multiple people and then they have now so many different options for if you

14:02
want if you need a ride right now or if you could wait like 15 minutes it’ll be cheaper and then now they do food and and so they’re starting to build that larger infrastructure uh in in repetitive model themselves um and again so I wanted to go back to uh hey if the the time is to test now and take action so again you can grab your API keys in um uh on the rapid Dax um you know grab download Postman and start testing right away uh enjoying the Rapid Community if you have any questions uh we’re at it’s at

14:48
community.rapid.net all right so if you go to you know docs.rapid.net and then go to First API call here you can download our Postman uh and you can run it you know on web or or you know here I have a Mac but the first example of let’s see and so let me uh just jump into today we’re gonna just create a payment with FX and then also create a checkout page with FX so the difference with these is if you’re creating a payment um you would need for all of these you do need to build out your application or

15:35
your website that is PCI certified which means you need to you know go to um you know the website for the PCI certification in handling uh all credit card information uh and be able to meet all the standards uh you know with compliance uh it’s it’s uh you know it’s really important that security for your customers is put as a priority and so if you are working with the API we do know in our documentation that uh you know you would be handling um customer information of course this is saved and tokenized with the API but

16:19
again this is probably uh you know maybe for bigger startups or definitely if you plan to use the API direct integration you know without the checkout page um being able to meet PCI certification any requirements is absolutely essential um and so here we have uh just really the request body have all the headers uh filled out for you in Postman and I’m working in sandbox um with the environment um here I have all my uh API Keys put in input from uh client portal if you watch one of the videos on uh the where you

17:14
download the postman collection you can follow that and it’ll show you how to grab your API keys and so here we have the amount the currency um requested currency and then fixed Side by um kind of where the currency exchange is going to take place and then the expiration date this is in Unix code this will be the e-wallet that I’ll go to I could delete this and it’ll just go to the client but you could designate kind of as we were sharing the rapid wallet ecosystem where you know you could dump funds into

18:02
that and start building here we have payment fees you could add this as uh uh gross or I believe net gross will add it onto the payment itself so you know you concert fees always have added fees for um for customers that would uh you know make that purchase um if it’s net it would subtract from the merchant so anyone or you know who you’re integrating for or if you are the business it would uh minus from that or subtract from that and then here’s an fx fee that would be added onto um you know the currency exchange that

18:49
you could you could charge um and here is uh Singapore payment method uh with any required fields for that and you could get the required Fields by um going to this and I see that he is here and then so we have we see the two that is present and then we’ll see it’s is required it is true and then if you wanted to see all the payment methods for Country this actually this step would actually come first uh would be listed list payment method by country and then country Singapore and then so we would find that down here

19:47
um oh that went away okay yeah and so right now that we see the payment method is in um is a Singapore payment method so the customer is actually going to pay the customer here is paying in the requested currency and then what actually I’m I would you know would be receiving is uh the business would be in US dollar so this would be you know someone in in the US selling to uh you know someone in Singapore or at least someone’s paying um with uh you know Singaporean payment method and so I’ll go ahead and send that

20:39
and so that went through uh it’s successful and we see uh here the payment ID you can always refer back to that through this the amount is uh you know including uh you know any fees any um um you know payment fees uh FX fees plus the currency exchange and so this is what would show on uh the the page so this would be this is the Singapore uh dollar um the payment method was a bank redirect we see that down there and then uh you know we could see the more information on the fees and the FX rate down here we can always grab

21:32
uh uh we could always grab FX rates uh through uh get daily rate and so we see 717 uh 717 um 5097 and so yeah that is an example of creating a payment with FX again you would need uh to meet a PCI certification for this now if you didn’t have anything and you were really just a developer not just developer but wanting to build something out of nothing and maybe a small team you could go to uh here you could create this checkout page and that would build we do have a embedded integration for this but here you could build this out and be able to

22:35
create a checkout page um you know that that works and basically this will create a payment like this um but it’s it’s a checkout page that meets PCI certification so all you need to do is is you know integrate this with the and show the link pass the link to your customer and so uh yeah don’t have any fees included for this but um just an amount uh country currency payment method expiration of the page this is again fixed Side by um and they’re actually requesting uh Mexican pesos so I can go ahead and send

23:26
that um uh let me see uh I think it’s gonna show show something okay let me change windows thinking okay now I have uh the screen screen showing so and so yeah so I just uh clicked on this link and it went here and so here we could see just the basic checkout page with uh you know card info um here is uh what the client will receive so if your business it’s showing that um but this is this is what the customer

24:31
will see so the client will receive the 400 euros but the customer is now paying in Mexican pesos and so I’m just gonna put in some credit card information um uh and I’ll pay that and that it’ll go through and then it’ll redirect to whatever page that you have and so that’s that’s pretty much an example of uh yeah uh what it looks like to create a page with FX you know if you didn’t have that PCI certification which is a lot of a lot of us and so that will this basically this uh layout is you know you

25:21
can customize the cuddlers um rapid is always adding in you know uh assessing the data that it’s continuously improving uh as customers use this but this is also you know if you were to use some of the plugins with like Shopify or anything this um you know this is the checkout page that would appear and your customers would pay through that of course you could see here it’s uh has that PCI DSS um secure stamp on it um and so yeah that’s that’s kind of what it looks like uh to create those two payments I do have another

26:11
request that I was going to go through I know I’ve seen have been seeing a lot of requests about creating a wallet and seeing some um I guess inquiries questions about that about people getting error so I was going to go through that but I wanted to take a pause and stop at this time does anyone have any have any questions or anything uh yeah anything you feel like you want to ask um if not no worries we can keep going um and Sharon uh does does rapid work in Nigeria and so you can find out if uh rapid is in any of the countries

27:10
we have some in our documentation um let’s see uh looks like it’s not listed on there let me go to um client portal yeah oh cool I can just pull this up here and so here is our client portal we also have uh let’s see we also have on our get started page um we can find a list of supported countries so this is if you wanted to just get started into um integrating with rapid um this is where you would uh you know get just really get started I do see Nigeria is not on there um uh I know rapid is actually starting to

28:15
integrate into a few countries in uh in Africa I know it um and so I’m not sure if Nigeria is one of them but we’ll certainly release that on our community forum and they’re working with some uh some big companies that are accepting payments uh what language is the uh rapid apis built on yeah that’s a thanks for asking that’s a really good uh really good question actually let me turn on one of the slides that I could share I actually should have should have shared that slide with you cool um I can hide move this

29:10
and so let’s see refresh this page uh oh yeah that’s the examples so here is yeah the rapid stack so really it’s uh I mean it didn’t take much it’s so it’s built on AWS uh and then you know uses as for the database mongodb MySQL and then front end is react and um you know back end is just node.

29:43
js so uh definitely started out as super Scrappy and uh do you use Express in node.js um that’s a good question I’ll have to ask one of the um uh one of the Developers um um let’s see if they’re on all uh send them a message um but yeah thanks for asking uh cool that’s a some really good questions um you know rapid just really started as a basic basic payments app but then started to Pivot and grow um uh you’re oh you’re a full stack uh JavaScript engineer um that that’s hey that’s awesome

30:42
um and yeah we’ll keep you updated and uh on more developments in uh you know I know I don’t know for sure that I I believe that we are um opening up in in some countries in in Africa um and so if uh you know I’m not sure uh the I know the fintech climate is is absolutely booming but as cut more countries do FX we may kind of roll out into different countries if uh there so API monitoring um yeah um we so rapid is uh on a promise to guarantee you know 99.

31:44
99 uptime I know that’s you know everyone’s goal and striving for but uh um you know I I can I can’t think of the last time where I got an email um that was down uh usually it is regarding to any client portal upgrades um but yeah it’s uh we actually have a lot more data of now this year like uh everyone using specific API calls and um uh yeah just being able to pull more uh more of that data that’s that’s useful um you know at least for uh hey who’s doing what and what we can uh you know maybe deprecate or let go of and

32:36
and really prioritizing uh you know what is uh what people are using um more and more and uh so yeah that’s a good note uh cool we’ll be sure to uh test that out um or uh include that actually for next presentation you know one thing that we do want to do is kind of share some of the stories of different companies or different uh you know fintechs focusing in on some of these verticals but also do you know if you’re using off-the-shelf solution or for monitoring or just in-house Solutions so the monitoring would be

33:32
the data that we are actually pulling I believe it is in-house as far as um just monitoring the uptime uh I it might be in an API integration that we’re using from someone I can also get back to that uh make sure to include that as well these are really good questions no um this is this is good uh more questions the better so I can go back to uh uh um some of our devs and actually include them on here next time and as well as knowing what to include for the

34:37
future this is great oh yeah absolutely I feel like I have there’s so many people at rapid that are I feel like their voices just need to be heard and experts and so I would love to bring them on and um yeah love to chat so um cool so yeah a couple uh I did a few a couple questions on Postman I can run through the crate wallet uh feel free to to um can you type in questions as you have them uh Kelvin nice my name’s uh Kyle I guess I didn’t introduce myself um uh but yeah thanks for being here love to have you guys

35:42
any plans for Rapid fintech Community integration with blockchain tech in the future and so yeah there’s something called that’s a good question um there’s something called uh rapid Ventures uh let me see if I could pull it up yeah there’s a rapid Ventures um you know uh we launched this uh about maybe a little over a year ago or maybe longer um and so we started to invest in basically different companies um that would be promising for Partnerships and um you know really really you know if you guys start to create something uh

36:45
really impressive rap Adventures is definitely you know a possibility you could start to inquire and you know pitch your idea um and so as that came up uh a few different companies popped up and one of them was uh I have to jump on the rapid Twitter um uh to kind of capture who it was but uh yeah they announced investing into um you know per potential future partnership um with blockchain tech uh it’s on the Twitter if you go a little bit down I can probably uh bookmark it somewhere but anyways uh the question is yes Hector

37:35
um it definitely uh um you know that is in the Horizon I’ve heard it being discussed with people the thing right now is with fintech that is basically just a uh um it’s almost an emerging uh tool where it’s not I guess I would get I would say for payments it’s you know you don’t see a lot of people using uh that for payments like for for these verticals right here I would go to here so you don’t see blockchain payments happening around here but it’s we know it’s being built we know it’s growing and so right now

38:24
you know what is the main bulk of uh the money movement in financial movement uh is is a lot of these these uh payment methods uh you know different regions have different but we know you know you can’t ignore blockchain and so blockchain is almost this like it’s it’s so valuable uh you know people see the value in it it’s it you know there’s also still like mixed opinions but um right now it’s not going to be the main thing that’s going to make money but uh absolutely for the future you know as

39:08
things continue to grow you know right now it’s really pretty much used for Investments um and then we did see that you know Spike and rice and um uh you know nfts and and CR yeah yeah crypto transactions are rising but regulations have been tightened in different countries too yeah and I I think there’s almost that middle ground where uh you know it’s it’s maybe this free market and in you know free range uh to go ahead and tread forth but then and you know come kind of governments uh place in their their regulations and

39:55
then um you know their it builds that trust to be able to know that you know for anything compliance wise anything you know fraud and uh you know fraud protection uh is in place and then you know that will be that will be used widely and widespread for especially for the the players that will go ahead and move that and you know a lot of the countries in APAC fit rapid is is has a really really strong presence in Apec and if if it starts to be used in you know countries like you know Indonesia or um even Singapore

40:42
so many of those different countries start to adopt different payment methods for example you know Indonesia it’s like actually they don’t use credit cards a lot but they do and that’s you know not um credit cards have been at least in my experience a bad onboarding gateway to crypto because it needs to really come from bank accounts to help help I guess protect against fraud to make sure someone does have a bank account legally and then be able to I guess create that but then um you know in Singapore it’s a little bit

41:28
different maybe it’s like wallets and so if if you know a country starts to adopt uh crypto that is that would be huge yeah yeah web for uh web 4.0 and will be my wife and I uh we’re just even talking I think this morning and we saw we saw like a random uh it was just a random thought that I had but um I think we saw a car with a Disney plate license and we’re like oh that’s interesting like that’s that’s uh you know you I wonder if they park for free at Disneyland uh probably probably not

42:20
um but you know my wife mentioned she’s like what if like you could have an nft or like you know uh a blockchain uh a token that would allow you to park certain places anywhere for free like you have that already um and then you can just go ahead and they they recognize that you have that uh you know that would that just like changes uh the payment structure and payment system of um uh the model of like you know just parking lots and and so they probably do have apps where you do like pay monthly in certain but

43:07
um probably not something that’s like through that’s shared with a lot of parking lots but anyways yeah good good questions and good thoughts guys um let me jump to yeah so the we did create payment with FX create checkup page with FX and I’ll just jump to create wallets feel free to jump in and um ask any more questions um if you have them so here there’s two different options where we you could create a personal wallet I should have had a diagram for this but basically you have three wallets a client wallet which

44:06
in these payments again I said uh if this I’m not sure this may be the client wallet or or may not I’m not sure but if you if I deleted this it’d be totally fine it would just go to uh the client wallet itself and so wherever the payment would end up would go to your client wallet um and so that is the first uh Hey a poor vote uh welcome uh we’re just hanging out um just asking some questions I went through just a brief summary of of rapid and now we’re just talking about some API calls if you have any questions feel

44:53
free to to post in chat um coup and hacknack has had asked some questions so so yeah that’s the the client wallet is the main wallet that you may have and then there is uh any uh wallets that you create one can be it can be a personal wallet for a specific person and that’s what this is or a company wallet in which if you were to create for a specific business and so this is a post request of course uh it’s just a slash user with the base URL I’m I’m here working in sandbox so it’s sandboxapi.rapid.net V1

45:39
um and we have basically all their contact information here um we create a contact here and this will create a contact ID where for actually a business wallet you can create more than one contact but for a personal wallet it will only create one and so uh yeah as I have this I actually do need to create a specific reference ID for this wallet I think I already created one with this one so I’ll just change the number here and then I’ll go up invalid email uh let’s see all right cool that changed I believe

46:35
actually that that because someone else had that email anyways I’ll just save that for next time and so yeah we see that as a success here we see it’s active and here’s the contact ID that I was talking about for this guy Samson Samson Smith and then the wallet ID will be here so if you wanted to ever grab now a wallet ID um you would be able to grab this and so here it is retrieve wallet and I can retrieve Wallet balance let’s see so yeah there’s nothing here because we

47:40
just created it and so that would um to be sitting until we accept it in in production there would be a identity verification process in creating this wallet but working in sandbox for now welcome uh Pico we’re just uh just hanging out feel free to ask any questions what it what’s the sandbox URL again um it is sandboxapi dot rapid.

48:15
net V1 and so in Postman we do have that uh we do have that um a set for you already let me see if I can jump to yeah oh and so actually let me go to the ref it’s in our documentation so if you ever create a payment um let’s see let me jump down two way here uh so all of the API calls are will show um the URL here so sandbox API Dot rapid.

49:10
net and then production would be api.rapid.net or just um uh get rid of the sandbox and so what we’re going over now is Wallet create wallet heads just a few inquiries about um this be having a getting errors and people with different people getting errors for that so um yeah I can just uh post that in there yeah and so here we see where we created the wallet it’d just be slash user because the sandbox api.rapid.

49:55
net V1 is um is in the base URI in the in the uh environment here so it’s just sandbox and then if I wanted to create a company create a business wallet um let me just change this here and again here’s just a business contact for this company that I’m creating go ahead and create that and that’s successful here um and then I can add as many contacts as I want for this um who would have kind of rights to the to the wallet because it’s a it’s a company wallet um yeah and then it would be contact type

50:57
business that’s where you would know it’s a business wallet where the other one is contact type or type person contact type person yeah um cool let’s uh actually grab this so we saw that um saw that there was zero dollars in that and let’s try this and then I’m just gonna fill out this checkout page some credit card information awesome and that went through and then let me grab that

52:08
awesome and so now we see that there are a balance of 400 euros uh the call or the same amount uh or the same uh API request that we did earlier so we know the amount will be 400 euros that the client will receive but the requested currency for here is what the customer is requesting to pay in so they paid in uh Mexican pesos and then um the cus or the client received the 400.

52:50
um so that is that is here now and so they have Euros now if if they wanted to receive in Singapore dollar we could do that as well um you know maybe I’ll show that for next time if they wanted to receive USD they could do that with here and then so you would see what you would see would be 400 euros you know 400 Singapore dollar 400 USD all separately um uh within the wallet and then but then if they decided you know within their own uh wallet they could combine it all to one um transfer fees but there is there would

53:35
be one kind of operating fee that or operating uh currency that they would have uh where uh the settlements they received would be in their own local currency wherever the business is operating but of course you could use the payouts you could use uh let me access if you had if you were a large business with multiple bank accounts you could also use Rapid disperse to pay out uh you know to different legs of your company the currency of the choice so anyways uh that is uh yeah that’s all that I had for today

54:23
um thanks for joining and thanks for watching uh if you have any questions uh we’ve just got a couple minutes to close up but also you could tag me leave at Kyle at rapid uh here in the rapid um Discord or you could go to community.rapid.net and also tag me I’m also at Kyle there feel free to join and and make a post and yeah share we love to when you share what you’re working on um share what you’re thinking about talking about um awesome uh cool yeah let me know if you have any questions cool and

55:13
um would love to help you whatever you’re doing on your way awesome well uh thanks again everyone joining thanks heck nog thanks apurva thanks cool hope to talk to you guys soon