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Ripple partnered with digital payments gateway MSF Africa

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Indrani bose Follow

INDIA

Nov, 22 2022

Nov, 22 2022

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Tech company Ripple partnered with digital payments gateway MSF Africa to bring advantages of cryptocurrency-enabled payments to the continent. Ripple, the leader in enterprise blockchain and crypto solutions has partnered with a leading digital payments gateway MSF Africa to use the technology to streamline mobile payments for customers in 35 countries in real-time.


As part of the partnership, the prominent fintech company MSF Africa would utilize Ripple on-demand liquidity (ODL) crypto solution for crypto-enabled payments. Consumers and businesses in Africa will be able to make real-time payments across borders with their mobile phones using Ripple's financial technology, RippleNet, due to this partnership. This will enable fast, secure, and low-cost remittances, at scale. The partnership between Ripple and MFS Africa operates 800 payment corridors across the continent.


In markets that frequently suffer from liquidity sourcing, ODL can be helpful according to the Ripple team, who supported the alliance in a blog post published on November 14.


With the addition of Lemonway, which is a Paris-based online marketplace provider; Travelex Bank, the first exclusive bank for foreign currency transactions governed by Brazil's central bank, and Singapore-based payments company FOMO Pay, along with several additional ODL clients and forays into new countries, the technology company Ripple has partnered with MFS Africa. Ripple has its headquarters in the United States.


About MSF Africa :

As a leading payments fintech, MFS Africa has the widest and most extensive footprint in the mobile money movement. More than 400 million mobile wallets are connected to the fintech's payment hub across 35 African countries, and it operates over 800 payment corridors onto the continent to foster regional payment interoperability.


About RippleNet :

RippleNet uses blockchain and cryptocurrency technologies to assist clients all over the world in accelerating the performance and size of their businesses. It offers a better end-to-end customer experience, streamlined network partnering, solutions for managing liquidity, lines of credit, and cutting-edge technology to support real-time payments.


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Indrani bose

CBW - External Analyst

INDIA

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