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9 New Local Payout Corridors Now Live on Reap
We’ve expanded Reap’s payment capabilities with 9 new local payout corridors, giving businesses access to direct local clearing rails for faster, cheaper, and more reliable payouts across key global markets.
With this update, our payment services can route eligible payouts through local payment networks, in addition to the existing SWIFT transfers available for those currencies.
What’s new?
We now support payouts via 9 additional local payment corridors, allowing funds to be processed directly through domestic clearing systems in each market.
Instead of routing payments through SWIFT, you have the option to process eligible payouts via local rails, unlocking better speed, cost efficiency, and success rates.
Why we’re expanding local payout corridors
By using local payment networks, we’re able to deliver a significantly better payout experience:
Faster settlements
Many local networks operate around the clock with near real-time processing, compared to SWIFT transfers which can take up to 5 days.
Improved cost efficiency
Local payment fees can be significantly lower compared to USD 25 for SWIFT payments, which can lead to meaningful savings at scale.
Higher success rates
Local payouts are built for local requirements. Recipient requirements, bank selection, account formats are already locally tailored, leading to fewer points of failure.
How it works
Eligibility & Access:
- These corridors are available to eligible businesses
- Eligibility is determined by an approved sender country list
- New eligible clients will have these corridors enabled automatically
Setting Up Payouts:
- Local bank details are required for each recipient (e.g., routing number, IFSC, BSB, IBAN depending on country)
- Existing recipients created before this update: If a recipient was previously set up with SWIFT details only, you'll need to create a new recipient entry with local bank account details to use local rails
- New recipients: Simply provide the required local bank details when creating the recipient
- Network selection: You can choose between Local and SWIFT rails when creating payments.
- In markets with multiple local rails (e.g., India, Indonesia, Philippines), the appropriate rail is selected automatically based on transaction parameters.
Compliance & Workflows:
- Existing compliance requirements remain unchanged.
- Standard payout approval and processing workflows continue as before.
This upgrade runs quietly in the background - you just get better, faster, and more cost-efficient payouts.
Supported local payout corridors
As of 13 January 2026, Reap supports local payouts for the following currencies and networks:
- AED (United Arab Emirates) – UAEFTS
- AUD (Australia) – BECS
- CAD (Canada) – EFT
- EUR (Eurozone) - SEPA
- GBP (United Kingdom) - FPS
- HKD (Hong Kong) - FPS
- IDR (Indonesia) – BI-FAST & GPN (auto-selected)
- INR (India) – IMPS & NEFT (auto-selected based on amount)
- KRW (South Korea) – KFTC
- PHP (Philippines) – InstaPay & PesoNet (auto-selected)
- SGD (Singapore) - FAST
- THB (Thailand) – PromptPay
- USD (United States) – ACH
- USD (Hong Kong) - CHATS
Have questions?
Our team is here to help:
Team Reap
