Ripple Partner Xendpay Opens New Corridors in High-Value Remittance Market

Xendpay is opening new remittance corridors and Ripple helps it in keeping ahead of the competition, stated the payments company in the Ripple’s latest insight blog.

An international money transfer service, Xendpay allows to send money in 173 countries and more than 45 currencies.

In May this year, Xendpay partnered with Ripple to facilitate safe and secure money transfers all over the globe.

The company that plans to continue to open new corridors just launched its services into Africa including high-value remittance markets like Ghana, Kenya, Nigeria, and South Africa.

The online payments market is

“now a highly competitive sector with a growing number of new entrants. By helping us continually open up new markets, keep our fees low and reduce processing times, Ripple ensures Xendpay remains ahead of the competition,”

said Bhavin Vaghela, Xendpay’s Head of Product Innovation.

Using RippleNet to connect with a robust network of partners

The London-based company is providing its customers with most competitive rates on cross-border transfers, even giving the option to waive fees.

While flexible fees attract new customers, the company had difficulty in transferring funds in a currency other than US dollars.

Xendpay joining RippleNet has been part of its plan to extend this initiative even further, opening new corridors to the Philippines, Bangladesh, Indonesia, Vietnam, and Malaysia, and real-time payment rails to Thailand.

RippleNet, Vaghela said reduced the complication of creating a whole business case for each partner and friction.

With Ripple network

“there’s a built-in trust factor, which allows us to get to market quicker,”

he said.

“Now that it’s easier to connect with local partners, we can provide our clients with more local currencies and, therefore, see new growth in those corridors.”

The payments company is popular in countries like the UK, Europe, India, South Africa, and Canada that has established and growing migrant communities.