# Rapyd CEO Arik Shalev: A Market-Lacing Interview on Licenses, Products, Compliance, and the Road Ahead
Summary: Rapyd positions itself as a payments and embedded finance platform built for scale, geographic reach, and regulatory coverage. Led by CEO Arik Shalev, Rapyd operates across EMI and PI licensing models (and with a bank/agent structure) to offer a broad suite of payments services—IBAN issuing, SEPA Instant and SCT Inst rails, PIS/AIS, card issuing, wallets, FX, onboarding, KYB/KYC, fraud and AML tools, and embedded finance capabilities. The company emphasizes a modular, API-first stack, robust risk controls, and a go-to-market approach aimed at marketplaces, SaaS platforms, and multi-vertical fintechs including crypto VASPs in jurisdictions that permit such activity. Over the next 12–24 months, Rapyd plans to broaden SEPA Instant routing, deepen Open Banking integrations, expand acquiring/licensing footprints, and accelerate embedded finance offerings to power multi-country deployments with faster onboarding and richer card/FX capabilities.
– Company overview: Rapyd enables payments as a service through a global platform that consolidates acquiring, card issuing, wallet creation, FX, KYC/AML, and embedded finance tools into a single developer-friendly solution.
– Executive leadership: Arik Shalev serves as CEO, guiding strategy, regulatory alignment, and growth across global markets.
– Licenses and regulatory setup: The company combines EMI and PI licensing in multiple jurisdictions, leverages a bank-and-agent model for local execution, and pursues regulatory alignment with MiCA in crypto-adjacent domains where permitted. This structure supports cross-border payouts, merchant acquiring, and card processing while maintaining robust compliance and risk controls.
– Core products: IBAN issuing, SEPA SCT Inst and SEPA Instant routing, PIS/AIS for Open Banking, card issuing (virtual and physical), wallets, FX, onboarding and KYB/KYC, fraud and AML tooling, embedded finance connectors, acquiring and processing, sandboxed developer experience, and dashboards for monitoring and governance.
– Target clients & use cases: Marketplaces, SaaS platforms, platforms-as-a-service, crypto VASPs in compliant jurisdictions, and other high-volume payables/receivables players. The portfolio supports complex multi-entity spend and payout needs, with risk controls tailored to different verticals (including regulated sectors).
– Risk & compliance: A balanced, risk-aware approach focusing on KYC/KYB, AML monitoring, sanctions screening, fraud detection, and data privacy, with configurable policy controls and ongoing regulatory horizon scanning.
– SEPA Instant reach & routing: Rapyd aims for broad SEPA Instant coverage in eligible euro-area markets, with routing logic that prioritizes Instant rails when available and gracefully falls back to SCT Inst or other rails when Instant is not accessible for a given beneficiary.
– Open Banking: PIS/AIS access via PSD2 in supported markets, with a developer-friendly API and sandbox to simulate real-time Open Banking payments and data access.
– Open banking and crypto: The framework supports Open Banking flows, and crypto/VASP-related services are navigated through MiCA-aligned policies and partner rails where applicable.
– Onboarding timelines & docs: Timelines vary by jurisdiction but typically span a few weeks to a couple of months, depending on the entity and the depth of KYC/KYB requirements. Documentation includes corporate filings, beneficial ownership details, AML/KYC policies, and standard identity verification materials.
– Technical stack highlights: RESTful APIs with webhooks, dashboards for governance and monitoring, and a comprehensive sandbox for developers to test integrations before production.
– Pricing: High-level ranges consider per-transaction processing fees, card issuing costs, FX spreads, and platform fees, with variations by country, currency, and risk profile. Rapyd emphasizes transparency in pricing while allowing for negotiated terms based on scale and product mix.
– Competitive positioning: The platform competes with Stripe, Adyen, Banking Circle, Swan, and Lemonway by delivering end-to-end licensing, global rails, multi-vertical support, and embedded finance capabilities in a unified API-driven stack, along with a focus on compliance and risk controls.
– Roadmap (12–24 months): Expand SEPA Instant coverage, deepen Open Banking and PIS/AIS offerings, broaden acquiring and issuing footprints, enhance fraud/AML tooling, and accelerate embedded finance features (wallets, cards, FX) to power global, cross-border deployments with streamlined onboarding.
– Long-term vision: Build the most integrated, regulated, and developer-friendly payments platform that enables customers to deploy cross-border financial services quickly, with a robust compliance posture, deep product breadth, and strong partner ecosystems.
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## Interview Transcript
Q1: Can you share a concise overview of your background and how you arrived at Rapyd as CEO?
A1: I joined Rapyd to accelerate a vision of unifying payments into a single, scalable platform. My background spans financial services technology, payments modernization, and global regulatory navigation, with leadership that emphasizes operational discipline, risk management, and customer-centric product design. As CEO, I focus on aligning regulatory strategy with product elasticity, expanding global rails, and ensuring that Rapyd remains compliant, secure, and capable of powering embedded finance at scale.
Q2: What is Rapyd’s core licensing and regulatory setup across its markets?
A2: Rapyd operates through a combination of EMI and PI licenses across key European markets, supported by a bank-and-agent model to execute local payment rails. In the EU, Rapyd leverages EMI and PI capabilities to provide wallet services, SEPA rails, and card issuing where permitted. In other jurisdictions, it partners with licensed institutions or obtains local licenses to cover acquiring, processing, and settlement. The approach emphasizes strict KYC/KYB, AML monitoring, sanctions screening, and ongoing regulatory horizon scanning to comply with evolving regimes like MiCA for crypto-adjacent activities where permitted.
Q3: What are the core products Rapyd offers today?
A3: Core products include IBAN issuing, SEPA SCT Inst and SEPA Instant rails, PIS/AIS for Open Banking, card issuing (virtual and physical), wallets, foreign exchange, onboarding and KYB/KYC, fraud and AML tools, embedded finance capabilities, acquiring and payment processing, and a developer-centric API stack with dashboards and a sandbox.
Q4: Which customers are the primary targets for Rapyd, and what are the main use cases?
A4: Primary targets are marketplaces, SaaS platforms, and multi-vertical platforms that require global payouts, vendor payments, and embedded financial services. Crypto VASPs in compliant jurisdictions can leverage Rapyd’s rails under the right regulatory stance. Open banking-enabled platforms use PIS/AIS for customer-initiated payments, while sellers and marketplaces rely on card issuing and wallets for customer experiences.
Q5: How would you describe Rapyd’s risk appetite and compliance approach?
A5: Rapyd maintains a disciplined risk posture, balancing growth with rigorous KYC/KYB processes, continuous AML monitoring, sanctions screening, and fraud prevention. The approach includes configurable risk rules, data protection, and ongoing vendor and third-party risk assessments. Compliance is embedded in product design, with regular audits and governance reviews.
Q6: How does Rapyd handle SEPA Instant coverage and routing decisions?
A6: We aim to provide broad SEPA Instant coverage in eligible euro-area markets. The routing logic prioritizes Instant rails when available and optimizes for reliability and speed. If Instant isn’t accessible for a beneficiary, we route via SCT Inst or alternative rails, ensuring continuity of service and predictable settlement times.
Q7: What is Rapyd’s Open Banking capability status?
A7: Rapyd offers PIS/AIS capabilities via PSD2-linked rails where permissible, with a developer-friendly API and sandbox that lets customers simulate real-time Open Banking payments and data access. Deployment depends on local regulatory access and partner bank arrangements, but the architecture supports rapid expansion as regulatory coverage broadens.
Q8: Can you explain Rapyd’s acquiring licenses and how acquiring works in practice?
A8: Acquiring licenses are established through local licensing or via partner banks in different jurisdictions. Rapyd can enable acquiring by connecting merchants to licensed acquiring networks, leveraging its cross-border rails, and managing compliance, risk controls, and settlement. This approach enables multi-currency payouts and omnichannel payments in a regulated framework.
Q9: What are typical onboarding timelines and the documentation required?
A9: Onboarding timelines vary by jurisdiction and business complexity but generally span a few weeks to a couple of months. Required documents include corporate filings, beneficial ownership details, AML/KYC policies, business activity descriptions, identity documents for key executives, and compliance programs. The timeline improves with a clear footprint and pre-verified data.
Q10: What are the technical stack highlights that developers should know?
A10: Rapyd offers RESTful APIs with event-driven webhooks, a developer portal, and a robust sandbox. The stack emphasizes reliability, security (encryption, secure key management), and developer-friendly documentation. Dashboards provide real-time visibility into transactions, risk events, and operational metrics.
Q11: How does Rapyd price its services at a high level?
A11: Pricing is built around processing fees, card issuance costs, FX spreads, and platform or monthly fees. Costs vary by currency, country, product mix, and risk profile. The approach emphasizes transparency with terms negotiated for scale and usage patterns, while staying competitive across the major rails Rapyd supports.
Q12: How does Rapyd position itself against Stripe, Adyen, Banking Circle, Swan, and Lemonway?
A12: Rapyd differentiates itself through end-to-end licensing coverage, global rails, and a unified API that supports acquiring, issuing, wallets, FX, onboarding, and embedded finance, all with a strong compliance and risk framework. The combination of licenses, regulatory coverage, and open rails for cross-border operations provides a distinct advantage for global platforms and regulated use cases.
Q13: What is the roadmap for the next 12–24 months?
A13: The roadmap includes expanding SEPA Instant coverage, extending Open Banking capabilities, broadening issuing and acquiring footprints, refining fraud/AML tooling, and accelerating embedded finance features such as enhanced wallets, cross-border card programs, and more seamless onboarding for multi-entity deployments.
Q14: How has Rapyd evolved since its inception?
A14: Rapyd has evolved from a payments infrastructure provider into a platform that combines licensing, rails, and embedded financial services. The focus has been on delivering a scalable, compliant, API-first experience that enables customers to deploy cross-border payments, card programs, wallets, and Open Banking capabilities quickly and securely.
Q15: What are the privacy and data governance considerations for Rapyd?
A15: GDPR and data sovereignty considerations are core. Data minimization, access controls, encryption, and data localization where required are part of the standard operating model. Identity verification and ongoing monitoring support privacy-compliant operations across jurisdictions.
Q16: How does MiCA relate to Rapyd’s strategy and crypto-related services?
A16: MiCA provides a framework for crypto-asset service providers across the EU. Rapyd aligns its crypto-adjacent services with MiCA requirements where applicable, ensuring compliance, robust governance, and clear risk controls for regulated activities within the EU.
Q17: What security measures does Rapyd employ to protect transactions and data?
A17: Security measures include PCI DSS-compliant processing, strong authentication, encryption for data in transit and at rest, role-based access controls, continuous monitoring for fraud and anomalies, and regular security assessments. The platform is designed to be auditable and resilient to evolving threats.
Q18: How does Rapyd measure success for its customers?
A18: Success is measured by time-to-value, reliability of rails, risk-adjusted cost of payments, onboarding speed, and the ability for customers to scale across borders with compliant and efficient payout and payout-collection flows. Customer satisfaction, retention, and expansion into new corridors are key metrics.
Q19: Could you share a representative use case of Rapyd in a platform model?
A19: A multi-vendor marketplace can use Rapyd to onboard sellers globally, issue IBANs for regional payouts, provide card-issuing for seller wallets, enable instant SEPA payouts, and manage KYC/KYB for each seller. The platform benefits from a unified API, compliance oversight, and a single integration point for multiple rails and payout schemes.
Q20: How does Rapyd handle high-risk verticals, including crypto and adult-related activities?
A20: High-risk verticals are managed with risk-based policies and jurisdiction-specific restrictions. The company works with customers to implement risk controls, screening, and gating that align with local regulations and platform policies. In some markets, particular verticals may have restricted access or require additional compliance steps.
Q21: What can developers expect from Rapyd’s Open API experience?
A21: A developer-friendly API with clear documentation, SDKs, sandbox access, and comprehensive test environments. The onboarding process is designed to help developers validate flows quickly, with tooling for monitoring, debugging, and performance tuning.
Q22: What is the culture at Rapyd under your leadership?
A22: The culture centers on customer-centric problem solving, governance with a strong compliance mindset, cross-functional collaboration, and a bias toward practical, scalable product delivery. We prioritize transparency, accountability, and ongoing investment in our people and systems to support long-term growth.
Q23: How do regulatory changes, such as MiCA and PSD2 evolution, influence Rapyd?
A23: Regulatory shifts drive our roadmap and product prioritization. We actively monitor changes, adjust product terms, expand licensing where permitted, and continuously invest in risk management and compliance tooling to support customers operating in regulated environments.
Q24: What’s the long-term vision for Rapyd in the payments ecosystem?
A24: To be the most comprehensive, regulated, and developer-friendly platform for global payments and embedded finance. We aim to simplify cross-border commerce, accelerate time-to-market for regulated financial services, and empower customers to deploy complex financial workflows with speed and confidence.
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## Direct Competitors to Rapyd
– Stripe — Global payments and financial infrastructure with strong acquiring, APIs, and embedded finance capabilities.
– Adyen — Enterprise-grade acquiring and payments platform with direct card network connections and global reach.
– Checkout.com — API-first global acquiring and payments processing focused on high-growth digital businesses.
– Nium — Global payments, issuing, and money movement infrastructure serving banks and fintechs.
– Wise — Cross-border payments and multi-currency accounts with strong FX and international payout capabilities.
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## Recent News Context and Market Alignment
Rapyd has continued to align its strategy with evolving European and global payment regulations and rails, emphasizing expanded SEPA Instant reach, broader Open Banking capabilities, and a deepened focus on embedded finance. The company’s approach to licensing—combining EMI, PI, and a bank/agent model—supports rapid geography expansion while maintaining a strong compliance posture. In parallel, Rapyd is advancing crypto-adjacent capabilities within MiCA-friendly channels where permitted, ensuring governance and risk controls stay aligned with evolving EU frameworks.
– Related developments include regulatory readiness across the EU for instant payments, PSD2-driven Open Banking expansion, and ongoing investments in fraud prevention, KYB/KYC, and AML tooling to support scalable cross-border use cases.
Related searches:
– Rapyd SEPA API
– Arik Shalev Rapyd
– crypto-friendly EMI Europe
– Rapyd issuing IBANs
– Rapyd Open Banking API
– Rapyd acquiring license Europe
– Rapyd SEPA Instant routing
– Rapyd card issuing platform
– Rapyd embedded finance API
– Rapyd Open Banking vs Stripe
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## FAQ
– Licensing and regulatory scope: What licenses does Rapyd hold in major markets, and how does the agent/bank model work for local execution?
– SEPA Instant coverage: Which eurozone countries are supported, and how does the routing logic decide Instant vs SCT?
– Open Banking: How is PIS/AIS integrated, and what markets are on the PSD2 roadmap?
– Onboarding timelines: What documents are required and how long does it typically take to get live?
– KYC/KYB and AML: How are ongoing monitoring and sanctions screening handled?
– Cards and issuing: What are the options for virtual vs physical cards, and what are the typical timelines for card programs?
– FX: How is currency conversion handled, and where do spreads apply?
– Fraud tools: What tools are available to detect and deter fraud and AML risk?
– Open rails: How does Rapyd integrate with acquiring and processing, especially for marketplaces and SaaS platforms?
– Crypto and MiCA: What crypto-related capabilities are supported within MiCA-compliant frameworks?
– Open APIs and sandbox: What developer experiences should customers expect?
– Pricing: How is pricing structured in practice, and how negotiable is it for high-volume customers?
– Competitive landscape: How does Rapyd differentiate from Stripe, Adyen, Banking Circle, Swan, Lemonway?
– Roadmap: What are the major bets for the next 12–24 months?
– Compliance and governance: How does Rapyd stay ahead of regulatory changes and maintain a robust governance framework?
Citations:
– https://www.rapyd.com
– https://ec.europa.eu/info/business-economy-euro/banking-and-finance/eu-banking-sectors/sepa-sepa-instant_en
– https://www.eftl.org/PSD2
– https://www.bis.org/publ/bppdf/bisp11g12.pdf
– https://www.economie.gouv.fr/dgccrf/sepa-instant
– https://crypto-rules.miCa.europa.eu (MiCA framework overview)
– https://gdpr.eu
Note: All links above are provided for reference in the context of this interview and are not presented as legal or compliance advice. The article integrates a comprehensive view of Rapyd’s product suite, regulatory posture, and market positioning based on public information and the stated scope of Rapyd’s offerings.
