Are Ripple's Partnerships Beginning to Pay Off?
In May 2019, Ripple have announced their partnership with Ria Money Transfer, a subsidy of U.S.-based payments firm Euronet Worldwide. Ria Money Transfer is similar to other money transfer companies Western Union and MoneyGram, which Ripple purchased equity with. Ria's partnership with Ripple makes use of RippleNet for increased speed, transparency and efficiency of money transfers.
"Ria's integration with Ripple serves to build rails for an innovative payment infrastructure that seeks to provide easier access to potential partners, while delivering faster and cleaner payments to its users," Euronet's money transfer segment CEO, Juan Bianchi said in May.
Ria's Belgian bpost Boost
Earlier today in Belgian news site Trends it was announced that Ria Money Transfer will replace Western Union in bpost offices across Belgium. Western Union's contract with bpost is due to expire mid-February. bpost have announced that Ria Money Transfer will be replacing Western Union in branches across Belgium.
"For the customer, the service remains essentially the same," said the postal company. bpost have also pointed out that Ria Money Transfer's rates are slightly more competitive.
It seems that in a matter of weeks Ria Money Transfer will be available across 600 post offices in Belgium. This is a pretty major expansion of Ria Money Transfer in Belgium and could help expose the country's population of 11 million indirectly to Ripple.
It appears that Ripple's partnerships are beginning to pay off.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado