Ripple, the United States-based blockchain payment technology company has formed another partnership. This time the United Kingdom-based payment processing firm Guavapay has made a partnership agreement with Ripple. The partnership deal between these two firms will allow Guavapay to join Ripple’s global payments network RippleNet.
Guavapay becomes a member of RippleNet
Guavapay has revealed its partnership with the blockchain payment giant Ripple in an announcement. The payment processing company has said that it has officially become a member of RippleNet which is a global payments network of Ripple. By joining RippleNet, Guavapay has widened its international coverage.
The company said that its users can leverage RippleNet for sending or receiving their money in a reliable, cost-effective, and instant way. Guavapay’s Head of Global Partnerships Vugar Mammadrzayev further provided details about this partnership.
Vugar said that they are happy to be a part of RippleNet as it enables lower-cost and instant payments. He said that through this partnership they want to bring transparency and speed into the industry which traditionally works very slowly. The company is hoping to find new opportunities for strengthening its network through this partnership, he said. Vugar added that their main mission is to “touch the domestic payment systems in each country” while letting receivers “accept money in their bank account”.
The partnership will bring a lot of benefits to customers
While talking about what benefits Guavapay customers can get out of this partnership, Vugar said that this partnership will bring a lot of benefits for their customers. They will be able to enjoy convenience and speed while completing their bank account payments in Thai Baht. The partnership will provide them with instant payment solutions that they can afford easily. He said that for providing its customer with more high-class services, the company is planning on making more partners in the future.
Guavapay Limited is a well-known E-Money institution that is based in the United Kingdom. The company has got an e-Money license that it has received from the regulatory authority of the United Kingdom the Financial Conduct Authority (FCA). It offers its users multiple services and allows them to make their payments in more than thirty fiat currencies such as EUR, USD, GBP, etc.
The company also revealed that is already working with Siam Commercial Bank (SCB) which is another partner of Ripple. SCB is considered as Thailand’s largest commercial bank.