By A subsidiary of the U.S-based payments firm Euronet Worldwide, Ria Money Transfer recently teamed up with Ripple to take advantage of its blockchain-based payments network in an effort to achieve faster cross-border payments.
Announced on Wednesday, Ripple stated that RippleNet will help Ria settle all transactions with “increased speed, transparency and efficiency.” Of course, customers will benefit from this partnership too, thanks to end-to-end tracking, improved visibility of fees, details of transaction status and the estimated time of completion.
Euronet’s money transfer segment CEO, Juan Bianchi added:
“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.”
Ria is currently one of the globes largest money transfer company’s, handling up to $40 billion in volume per annum across 155 different nations as per the announcement.
SVP of customer success at Ripple, Marcus Treacher stated that the partnership will enable Ria to offer enhanced remittance times and costs for both general and enterprise level customers.
Ria joins a myriad of worldwide institutions that have joined forces with Ripple for its blockchain-based payment services. Most recently these include UAE Exchange, Coinone, the National Bank of Kuwait and more.
In the first quarter of this year alone, RippleNet added 13 more clients to its repertoire including Euro Exim Bank and Olympia Trust Company which takes the company’s total to over 200 customers.
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