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Remessa Online taps Modulr and Ripple for cross-border payments

Tuesday 14 June 2022 14:36 CET | News

Brazil-based fintech Remessa Online has chosen Modulr and Ripple to supercharge its cross-border payments from Brazil intro the UK and Europe.

Joining forces with Modulr and Ripple, Remessa Online can now provide its customers with access to Single Euro Payments Area (SEPA) Instant payments and the UK’s Faster Payments, enabling them to make payments 24/7, 365 days a year, in around 10 seconds, to the UK and Europe.

According to the press release, Brazilian businesses expect international payments to be as instant, low cost, and simple as local transfers. Providing customers with the same experience in international transactions is difficult, but essential in the wake of ongoing economic difficulties around the globe.

Together, the Modulr and Ripple partnership will make it easier than ever for Remessa Online to run real-time payments internationally. With Modulr’s domestic access to UK and European payment rails and RippleNet’s international infrastructure, global businesses like Remessa Online have an alternative to legacy correspondent banking and can now make payments into the UK and Europe.

Modulr is authorised and regulated by the FCA as an Electronic Money Institution, and so can issue GBP accounts with dedicated account numbers and sort codes. As a direct participant of the Faster Payments and Bacs schemes, Modulr settles funds at the Bank of England, providing reliability and security for users. In the EU, Modulr is authorised and regulated as an Electronic Money Institution by the Central Bank of Ireland and De Nederlandsche Bank in the Netherlands and EU.


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Keywords: Modulr, Ripple, cross-border payments, remittance, money transfer
Categories: Payments & Commerce
Companies: Modulr, Remessa Online, Ripple
Countries: Brazil, Europe, United Kingdom
This article is part of category

Payments & Commerce

Modulr

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Remessa Online

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Ripple

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