Through a press release we learn the news of a new partnership of Lemonway, a centralized payment system, which will use RippleNet technology to cut costs and increase the speed of payments in euros within the European market.
With the expansion of globalization and the digital marketplace, payments have also evolved over the years and various forms of payment have emerged; everyone is trying to use and integrate the system of their choice to ensure higher speed and low cost in terms of fees.
And this is how Lemonway has decided to form a partnership to use RippleNet.
A solution, the one offered by Lemonway, which through its Nium service is already used by over 1400 marketplaces throughout Europe. And it is precisely because of the considerable volume of users and consequently of transactions that it has chosen to use Ripplenet to scale payments in euros, as recalled by Chief Commercial and Marketing Officer Martin-Pierre Gaultier:
“As a company that embraces innovation, we are always looking for new business models and technological capabilities that can enable us to offer better services to our merchants. Our partnership with Ripple is a testament to this, and we’re excited to be able to offer faster and more cost-effective payouts to support the evolving needs of our customers and merchants.”
Ripplenet will improve euro payments
With the implementation of RippleNet the platform will be able to improve the processing of payments in euros and in the future they can extend the service to other currencies using the same system.
This shows that RippleNet can be applied not only to financial institutions but also to other realities in this sector, as stated by the Global Head of Institutional Business of Nium, Rohit Bammi:
“We are happy to announce the enhancement of payment routes for Lemonway users. Nium looks to create a fintech infrastructure that can help banks and financial institutions launch and scale innovative digital financial services without the complexity, time and cost previously required to do so, and this partnership with Lemonway through RippleNet to enhance their payments capabilities is a testament of that”.