Sending payments globally just got a whole lot easier.

Payment Rails, the API-first payout platform that brought on ex-Paypal exec Scott Thompson in October and ex-Google exec Justin Reid in May, has announced the official launch of its first truly global payout platform.

Businesses can now send payment through a single simplified integration to more than 220 countries in more than 135 currencies. The platform offers access to global banking, payment, and real-time networks around the world in a fully compliant and regulated environment.

“Payment Rails is re-wiring how business payments are sent around the world,” said Tim Nixon, co-founder and CEO. “With our API, businesses can now seamlessly send payments to over 220 countries for as little as $1 per transaction, with live foreign exchange rates, and delivering funds direct to bank accounts as opposed to a recipient’s e-wallet. Our clients are looking for an easy to use payout platform where they own the full customer relationship and UX instead of handing off their customers to an e-wallet removed from their core payment process.”

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Payment Rails allows businesses to run their own in-house global payout solution without needing to build or manage it themselves, allowing them to focus on their core businesses. The platform has no setup fees, monthly minimums or long-term contracts.

“Businesses are simply looking for more from their banks and are not getting the additional services they need to automate their processes,” said Ferhan Patel, Payment Rails’ co-founder and Chief Product Officer. Many of our clients are migrating off their core banks’ treasury service and leveraging Payment Rails’ payout platform because we offer automation and REST API connectivity.”

“Our platform provides the same level of treasury services you’d expect from your bank, but with a fintech level focus on the user experience. We also offer a disruptive way to send international payments, by bypassing costly bank wires, offering access to local banking and real-time payment networks, which can significantly reduce transactional costs by up to 80%.”

The payout infrastructure enables developers to seamlessly add international payments to their platform, website or apps, giving them access to global markets.

Payment Rails launched into public beta in earlier 2017, and has been working with a variety of diverse businesses since with diverse and complex payout requirements, including online marketplaces, share economy, affiliate networks and influencer platforms.

“Influencer marketing is the very definition of what a global business is,” said Vivien Garnès, co-founder and CEO at Upfluence. “Issuing monthly payouts to literally every corner of the globe was costing us a disproportionate amount of time and money. When searching for an effective global payout solution, we looked at some of the other platforms out there, but because their solutions were limited to a few currencies or only a handful of countries, that meant that we would still need to rely on costly bank wires and third-party e-wallets for the rest. And then we found Payment Rails. Since we’ve integrated, we have freed up the time and money previously spent on payouts to focus on our core business. 2018 will be a banner year for us as we can now scale-up faster, thanks to the Payment Rails team.”

The platform also leverages Blockchain and Ripple to optimize treasury and liquidity management, and allows businesses to send payments domestically and internationally through real-time networks, faster payment systems, international ACH, and global banking networks.

AI and machine learning are used to optimize payment routing based on speed, cost and FX rates. Payment Rails also incorporates AI and fuzzy logic for AML watchlist screening, and machine learning for fraud detection to deliver one of the world’s most advanced payment platforms for businesses.