Time and time again, traditional payment rails have fallen short, and businesses have continued to turn to modern solutions to fill these gaps. More than 80% of global finance leaders say they are likely to begin using digital assets in their business in the next three years.
Ripple’s vision has always been to move value as seamlessly as information moves today, and a core tenet of this lies in streamlining cross-border payments using blockchain-enabled solutions.
To help realize this, Ripple continues to fine tune its payments solution with expert knowledge gained from more than a decade of experience serving enterprise customers worldwide.
A number of announcements were made at Ripple’s annual conference, Swell, to show how Ripple Payments can support a variety of payments needs for businesses, 24/7/365, across regions and currencies.
Ripple has received money transmitter licenses across numerous U.S. jurisdictions allowing Ripple Payments to offer its products and services within those jurisdictions.
With single onboarding, customers are now able to access nearly 100% of global payout coverage to more than 70 payout markets through Ripple’s international payments network.
A new integration with the XRP Ledger’s native decentralized exchange will buttress global liquidity options for Ripple customers, streamlining customer onboarding into new markets and improving product performance.
Through newly expanded liquidity options, Ripple Payments can fulfill customers’ liquidity needs on demand, 24/7/365.
RocketFuel — a payment solutions provider for merchants sending or accepting payments via crypto or fiat — is the first customer to use this newest iteration of Ripple Payments. By leveraging Ripple’s expansive payout network, RocketFuel can respond to customer demand for direct payments in multiple payout currencies.
“For too long, the financial industry has suffered from using antiquated technologies, resulting in high costs, lost revenue, and inefficient and unpredictable processes. Blockchain and digital currency applications provide an avenue to radically improve those shortcomings,” said RocketFuel CEO Peter Jensen. “Ripple Payments supports our products, allowing us to serve our customers globally in a dramatically more effective way than the legacy financial system.”
Last year, machine learning capabilities were integrated to proactively manage the liquidity needs of customers and support a variety of transaction types like internal treasury, remittances, and B2B payments.
“At Ripple, we’ve long known that payments are unequivocally the ‘killer app’ for digital assets. Achieving that vision requires a seamless experience for institutional users to solve real-world problems,” added Brendan Berry, Head of Payment Products at Ripple. “With more businesses than ever seeing real utility in blockchain, our goal is to provide our customers with optionality, speed, ease of use, and compliance – all in one comprehensive product.”
As the leading provider of enterprise blockchain solutions for finance, Ripple has remained in lock-step with expectations of global businesses. Customer satisfaction has and will continue to drive the evolution of Ripple Payments for years to come.
Contact our sales team today to learn how to accelerate your business with frictionless global payments.
