Ripple has entered a partnership with Global remittance giant, Ria Money Transfer. This partnership adds to Ripple’s prestigious list of Remittance Service Provider clients, which includes Moneygram.
Ripple also announced this on Twitter.
.@RiaFinancial, one of the largest payments service providers in the world, joins #RippleNet to enable faster, lower-cost payments for millions. https://t.co/2OC3bCTLY2 pic.twitter.com/UnBxAhUWCb
— Ripple (@Ripple) May 2, 2019
A subsidiary of Euronet Worldwide, Ria is one of the largest payment service providers in the world with customers in over 155 countries, more than 377,000 locations worldwide, and $40 billion in money transfer volume per year.
Source: Saveonsend, April 27, 2019
How will Ria benefit?
By joining RippleNet’s network of 200+ financial institutions worldwide, Ria looks at settling transactions with increased speed, transparency and efficiency and deliver a better experience to their customers. More specifically, Ripple’s technology will enable new end-to-end tracking, better visibility into fees, estimated delivery time and status, complementing Ria’s transparency and reliability for the end user.
How will Ripple benefit?
Through Euronet’s state of the art Digital Integrated Payments Cloud, RippleNet customers will gain new access to Ria’s global fintech ecosystem, enabling cross-border payments both ways. Not only does this new partnership with Ria expand the global footprint of RippleNet, but it will also enable faster, lower-cost payments to millions around the world.
Juan Bianchi, CEO of Euronet’s Money Transfer Segment commented:
“Ria’s integration with Ripple serves to build rails for an innovative payment infrastructure that seeks to provide easier access to potential partners, while delivering faster and cleaner payments to its users. Time is a vital currency for our customers and partners, so we always keep it at the center of our innovation efforts.”
Marcus Treacher, SVP of Customer Success, Ripple, commented:
“By joining RippleNet, Ria not only enhances our value chain for our partners but will continue to improve remittance times and costs for both their customer and enterprise clients,”
How Blockchain is a Gamechanger in the Money Transfer Space
What is Ripplenet?
Ripplenet is a global payments network where customers can easily leverage the most advanced blockchain technology in global payments today, on-demand liquidity in cross-border transactions and operational consistency through a common framework.
The Global Remittance Market