RippleNet recently added a new partner, Ria Money Transfer to its global network of payments providers. Ripple, the San Francisco-based startup, announced the partnership on its website on Wednesday, May 1. RippleNet customers will now be able to get access to the cutting-edge payments technology used by Ria Money.
What Is Ria Money Transfer?
Ria Money Transfer is a subsidiary of Euronet Worldwide, which provides instant, blockchain powered global payments to its clients. The service has customers in more than 155 countries and operates in over 377,000 locations around the world. It processes about $40 billion in money transfer volume per year, becoming one of the largest payment service providers in the world.
Euronet offers a state-of-the-art Digital Integrated Payments Cloud which will now be accessible to RippleNet customers. Ria’s globalized fintech ecosystem will now help in bringing cross-border payments both ways.
Marcus Treacher, Ripple’s SVP of Customer Success said that the partnership would help the company expand the reach and solutions for its partners and the broader banking ecosystem.
He noted that Ria is one of the top money transfer players in the industry and runs the second largest global network. “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,” he added.
Faster and Better Payments
RippleNet will be able to expand its global footprint with the help of Ria’s expanded network. It will also be able to process quicker and lower-cost payments to millions of people. RippleNet already features over 200 partner financial institutions.
Ria’s transactions will also become faster, more efficient and more transparent because of Ripple’s blockchain-based payments service. Ripple’s technology will ensure better visibility of fees, end-to-end tracking, and estimated delivery time and status.
Juan Bianchi, the CEO of Euronet’s Money Transfer Segment said that Ria’s integration with Ripple would help pave the way for an innovative payment infrastructure. It will deliver faster and cleaner payments and easily onboard potential partners. He said:
“Time is a vital currency for our customers and partners, so we always keep it at the center of our innovation efforts.”
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