MoneyMatch Says Ripple Cross-Border Payments Technology Cut Costs by 40%

MoneyMatch, a Malaysia-based company that enables small and medium-sized enterprises to send cross-border payments to their suppliers, is reporting a 40% reduction in costs since joining Ripple’s global payment network in April of 2018.

According to the firm’s CEO and co-founder Adrian Yap, Ripple is helping address some problems that have hounded the startup.

Since becoming a RippleNet partner, MoneyMatch has facilitated financial institutions and payment providers in more than 100 countries.

The company says it no longer has to pay high fees to banks that often prioritize larger customers that have high-volume transactions.

“We struggled to find a decent European partner and were stuck using the Swift system to make payments there. Working with RippleNet partners allowed us to cut our costs by as much as 40% and instead of transactions taking at least two days, we were completing payments in just a few hours.

In return it created a lower euro pricing for us as well, which then completes the loop. So then we have more customers, which generated more volumes.”

Yap says MoneyMatch is passing on the savings and other benefits to its customers.

Check Latest News Headlines
1587587579 537 MoneyMatch Says Ripple Cross Border Payments Technology Cut Costs by 40 - MoneyMatch Says Ripple Cross-Border Payments Technology Cut Costs by 40%

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Leave a comment

Your email address will not be published. Required fields are marked *