Cambridge Global Payments, Ripple to boost cross-border payments speed

Thursday 15 October 2020 14:25 CET | News

Canada-based cross-border payments provider Cambridge Global Payments has partnered with Ripple to deliver cross-border payment solutions to B2B customers.

Via the RippleNet payments network, Cambridge Global Payments leverages distributed ledger technology to reduce transaction times to overseas vendors. At the same time, the company has expanded its reach into the Asia Pacific region.

During the pilot phase of the partnership, deposits to vendors who used Siam Commercial Bank as the preferred banking partner saw a 99% reduction in payout time with RippleNet, compared with the typical two-day average.

In recent news, payment service providers Guavapay and Lemonway have also joined RippleNet.

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Keywords: Cambridge Global Payments, Ripple, RippleNet, Asia Pacific, cross-border payments, B2B payments
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech