RippleNet-Powered Finablr and Alipay Partner to Setup Cross-Border Remittance Payments

    Finablr remittance payment system, powered by Ripple's RippleNet, teams up with Alibaba Group's AliPay to enable cross-border transnational payments.

    The payment company that recently became a Ripple partner and is now behind RippleNet, Finablr, has closed a new partnership with Alipay.

    The announcement was made on November 27. Alipay is the payment arm of the giant Alibaba group. The partnership between the two companies is meant to set up a transnational system of remittance meant to work anywhere in the world.

    Alipay Customers to Use the Finablr Network

    Customers of Alipay will be given the ability to use the Finablr network, which is working in many places all over the globe and includes companies like Unimoney, UAE Exchange, Xpress Money and many others. This is what Promoth Manghat, CEO at Finablr, had to say about the new partnership:

    “We are delighted to welcome Alipay to our growing portfolio of partners. Together we seek to empower the financial aspirations of billions of consumers with enhanced access and convenience for their cross-border payments needs. We will continue to build on our complementary capabilities and look forward to collaborating with Alipay on additional opportunities.”

    There will be 200 countries in which Alipay users will be able to use the Finablr network. The customer base at Alipay is comprised of more than 1 billion people. Clara Shi, who’s the head of global remittances at Alipat had this to say about Alipay partnering up with Finablr:

    “We are excited to partner with Finablr for global remittances, as we continue to explore new ways to apply our technology in order to benefit more people around the world.”

    Alipay has Banned Bitcoin Payments

    Seeing that Finablr works on the On-Demand Liquidity technology provided by Ripple, which is XRP-based, Alipay will most likely continue to use this cheap instant payment method too, especially since a while back, it banned any Bitcoin payments, OTC trading and crypto exchanges on its network. This is perfect for the China’s strategy of embracing the blockchain and leaving out the Bitcoin.

    A 22% Revenue Growth Reported by Finablr

    As soon as it started to use RippleNet, Finablr posted an increase in growth revenue by 22%. Before starting to collaborate with Ripple, Finablr partnered up with Samsung. Ever since, about 50 countries in the world were being given the ability to make Finablr payments with crypto wallets for Samsung phones.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Oana Ularu
    Oana Ularu
    Curious about what’s going on with all the money in the world, Oana is bringing you the latest news in the crypto world. She’s aware of the fact that you need to know everything that’s happening on the financial scene in order to play the cryptocurrency market, so you can count on her to share with you every little detail on what matters.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Swiss Private Banking Giant Julius Baer Adds Digital Asset Trading And Crypto Custody Services

    The major Swiss wealth management and private banking group Julius Baer just launched, in partnership with Seba, its new custodial and trading cryptocurrency services. The...

    Iran's Ministry of Industries, Mining, and Trade Grant More Than 1,000 Crypto Miners Licenses

    Iran is regulating crypto miners after a new licensing regime has been introduced by the country’s government. According to an official representative from the Iranian...

    CME Gaps for Bitcoin Price Fill over 95% of the Time: Research

    CME Gaps are popular topics that frequently get talked about in the crypto market, which usually has seen Bitcoin dumping. These Gaps occur because unlike...

    The Upcoming Cut in Bitcoin Supply Means Zero for BTC Price Says, Analyst

    Searches for bitcoin halving on Google Trends on an uptrend “Makes no sense” to discuss if the halving is priced in says economist...

    WEF's New Global Consortium To Focus On Cryptocurrency Governance Framework

    The World Economic Forum (WEF) has announced the creation of a global consortium which will come up with a governance framework for all cryptocurrencies...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.