Revolutionizing International Money Transfers: Xendpay Partners with Ripple

Breaking Boundaries in Money Transfers

Xendpay, the money transfer service, has taken a significant leap by integrating with Ripple’s extensive payment network, RippleNet, as announced on August 20. This partnership aims to exponentially expand Xendpay’s capabilities in processing international transactions beyond the conventional U.S. dollar.

Beyond the U.S. Dollar: Expanding Currency Opportunities

Before the partnership, Xendpay found itself shackled to dollar-centric transactions. The process to offer transfers in smaller currencies was like navigating a maze blindfolded—tedious and fraught with obstacles. Establishing partnerships with local banks would often require a Herculean effort, including complex application programming interfaces in many cases.

Simplified Solutions with RippleNet

• Reduced Complications: Bhavin Vaghela, Xendpay’s head of product innovation, succinctly highlighted the main advantages: “RippleNet reduces that complication and friction.”
• Faster Transactions: The speed of transaction processing has ramped up dramatically. No longer do customers have to wait days; now they can expect near-instantaneous transfers.
• Trust Factors: With partnerships in place, there’s an inherent trust that allows both Xendpay and its users to experience a smoother transaction process.

Real-time Transactions: A Game Changer

Gone are the days of waiting 3 to 4 days for payments. Thanks to the integration with RippleNet, a customer in Germany can initiate a transfer to Thailand at 3 AM on a Sunday, and the money will land in the beneficiary’s bank account within an hour. This stellar improvement has raised the stakes for Xendpay, noted Vaghela, who proudly stated, “More than 90 percent of our recent payments to Thailand over RippleNet have been delivered within 10 minutes.” Talk about instant gratification!

Ripple’s Expanding Network: A Global Presence

As noted by Cointelegraph, RippleNet is not just any payment network; at the beginning of 2019, it comprised over 200 members across 40 countries. This vast network positions Ripple as a significant player in the global payments ecosystem, making international transactions faster, cheaper, and more reliable for everyone. It might not be the magic carpet of Aladdin, but with RippleNet, you might as well feel like you’re riding one—at lightning speed!

The Future of Money Transfers

As Xendpay harnesses the power of RippleNet, it opens doors for innovative solutions in international money transfers that were previously thought to be cumbersome. This partnership not only showcases how technology can simplify financial transactions but also urges competitors to rethink their strategies in the rapidly evolving world of finance.