- Blockchain network adds five new payments customers for xVia API product
- Adopting xVia enables payment companies to offer a variety of solutions to address scalability and user needs
- New xVia users include payments providers from the UK, Georgia and Malaysia
Ripple has recently announced five new adopters of its xVia API product. The partnership will give these companies greater access to the growing global remittances market for international money transfers.
The latest xVia customers include companies from the UK, Georgia and Malaysia: FairFX (UK), Exchange 4Free (UK), UniPay (Georgia) and MoneyMatch (Malaysia).
Ripple's xVia solution gives businesses and financial institutions the ability to complete transactions to and from emerging markets with RippleNet, the platform's global payments network. Payments are faster and cheaper thanks to Ripple's decentralised model that doesn't require approval from central banks.
The xVia API also makes it possible for companies to build a variety of solutions, including payment providers, digital wallets and more. These products can then be easily scaled, customised and tailored to address specific consumer needs.
According to Ripple, xVia is a way for a number of different players in the international payments market to complete transfers directly without the need for a third party. Small businesses can also use xVia to access and leverage the power of the same technology as larger corporations for real-time global payments with improved transparency.
Traditionally, international transfer customers must contend with high costs, hidden fees and inconvenient wait times for sending and receiving payments. With Ripple, fees are lower and payments post almost instantly because there is no need for transactions to pass through a third-party connection.
Officials with Ripple's five new xVia clients have said they look forward to enhancing their users' experience by offering cheaper, more efficient and more transparent cross-border payments.
