May 2, 2019 09:30 UTC
May 2, 2019 at 11:25 UTC
Ria Money Transfer Team Up With Ripple For Cross-Border Payment Solution
Ria Money, the world’s second-largest money transfer portal has partnered with Ripple for its cross-border payment to facilitate its global customer with instant money transfer at a negligible fee. Ria Money is a part of Euronet and has millions of customers located in 155 countries.
Currently, Ria Money is dependent on their agents and 377,000 stores located all over the world to facilitate money transfers. The money transfer portal has a great presence in North America, Latin America, Europe, Asia-Pacific, Africa and also operates through their online services.
While, the current scattered system has been working fine for Rai Money, but the advent of Blockchain which brings in way faster transaction speed at minimal transaction fee has become the need of the hour.
Juan Bianchi, the head of the money transfer unit at Euronet said,
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.
Ria Money being the second largest global money transfer portal would be using RippleNet technology to help it streamline their working and also provide their millions of customers with the added benefit of near-instant money transaction with an almost negligible fee.
Ripple’s banking solutions have become a rage in the financial ecosystem, where major banks and money transfer portals have lined up to partner with Ripple and make use of their decentralized banking solutions. Throughout 2019 and even in 2018 when the decentralized ecosystem was mostly gloomy due to the bear markets, Ripple was still making a big partnership with not only firms looking to facilitate faster money transaction but also with many central banks around the globe.
Ripple, despite the controversy over its XRP circulation supply, has proven that great products always win irrespective of the controversies around it. Looking at the pace with which Ripple is going on, it could peg Bitcoin to become the ultimate payment system of use.