Guavapay, the payment processing company based in the United Kingdom has announced recently that it has joined RippleNet the global payments network of the blockchain payment technology giant Ripple as a part of a partnership agreement made between these two companies. The company has joined RippleNet in an attempt to widen its international coverage.
Guavapay Signs a partnership deal with Ripple
As per the announcement by Guavapay, the United Kingdom payment processing company has joined forces with the blockchain behemoth Ripple. As per the partnership agreement, Ripple’s global payments network RippleNet has made Guavapay its official member. Through RippleNet, the payment processing firm will be able to offer its users an instant, cost-effective, and reliable way of sending or receiving their money.
While providing more details regarding their partnership with Ripple, the Head of Global Partnerships at Guavapay Limited Vugar Mammadrzayev said that this partnership is important for Guavapay as it will bring more opportunities for them to expand their network. Moreover, it will increase transparency and working speed in the industry. Therefore, he said that they are excited about joining RippleNet.
The company is also working with Thailand’s biggest commercial bank the Siam Commercial Bank (SCB) as well which is also a partner of the company Ripple.
Guvapay Limited offers users a vast variety of services. Users of this payment processing company can make their payments to more than 100 countries and in over 30 local or fiat currencies. While outlining the services of the company that it offers to its users, Vugar said, “a self-onboarding process, online tracking through a web-based client portal, and money transfer on their behalf are just some of the services offered. Moreover, online customer support and FX dealing, competitive customized rate and fees (managed by the Guavapay Treasury Team) – are all provided in a web-based client platform.” The UK-based firm also gained an Electronic Money license recently from the Financial Conduct Authority (FCA) the financial watchdog of the United Kingdom.