Ripple Partner BeeTech Is Using RippleNet To Speed Up The $1.5 Trillion Payments Market In Brazil
- $1.5 trillion in global payment transactions moving to and from Brazil in 2018
- Ripple helped BeeTech customers save $14 million in transaction fees
- The firm is planning to expand across the US and Europe in 2020
Ripple partner BeeTech during the Swell 2019 event talked about how this partnership helped them reduce costs for their customers and enable real-time pricing with immediate settlements.
“With Ripple, we’ve standardized the process for integration across different rails and increased efficiency in settlement,”
said BeeTech Co-Founder and CSO Alexandre C.R. Liuzzi.
Liuzzi shared that partnership with Ripple saved their customers, who are families sending money to their children studying abroad or small businesses, over $14 million in transaction fees.
BeeTech is now planning to expand across the US and Europe in 2020.
Connecting Brazil with the Rest of the World
With more than 3 million Brazilian living abroad and $1.5 trillion in global payment transactions moving to and from Brazil in 2018, this is a huge market for both BeeTech and Ripple.
Payment processing in Brazil like other countries is expensive and slow and BeeTech is working with RippleNet to “revolutionize the customer experience and streamline how Brazil connects with the rest of the world.”
At the Swell event, Liuzzi took the stage and from personal experience questioned, “Why, in an increasingly globalized world, are we limited by our own frontiers?”
And this is why in 2016 Liuzzi with Fernando Pavani and Stefano Milo BeeTech co-founders went on to create a scalable, cross-border processing platform. Liuzzi explained that BeeTech is more than just a remittance platform, it provides access to financial services while removing frontiers to global payments.
“Since we started, we have transacted more than $1.5 billion and more than 200,000 transactions have been completed,”
Interestingly, over 40% of BeeTech’s new customers come from “referrals,” as such, their most important company statistics is the 89 Net Promoter Score (NPS), one of the highest in Brazil for measuring company loyalty.
This perfectly aligns with its partner Ripple who has its very own devoted community in the form of the “XRP Army.”