Financial institution Modulr partners with Ripple to simplify sending and receiving payments to the UK and Europe. Trust Payments will be the first customer to go live under the partnership.
What does the collaboration entail?
The collaboration will ensure that international real-time payments can be made. This is based on Ripple’s technology called RippleNet. Combined with Modulr’s technology, businesses can now pay faster, more reliably and cost-effectively in the UK and Europe.
As the first company to directly benefit from the Ripple and Modulr partnership, Trust Payments can thus expand its service and offer new payment options.
Jonathan O’Connor, CCO of Trust Payments, said: “The partnership between Modulr and Ripple opens up new payment options. We want to make sure we offer sellers alternatives to traditional methods with lower costs and faster financing of their accounts.”
Ripple and Modulr will deliver real-time payments, from the Asia-Pacific, North America, Latin America and Middle East regions.
Sendi Young, Managing Director of RippleNet in Europe said: “Ripple is delighted to partner with Modulr, who have in-depth knowledge and expertise of the payments landscape, as well as connections to critical payment infrastructure in the UK. Together, we look forward to bringing customers on RippleNet to the UK and Europe a faster, easier cross-border payment experience.”
Myles Stephenson, CEO and Founder of Modulr said: “We look forward to working with Ripple to deliver real-time, price-competitive and reliable payments in the UK and Europe, and then globally in the coming months.”
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