Report: Quiet Q1 2020 for Ripple-MoneyGram Partnership
The MoneyGram CEO stated that what they have with Ripple is a “good partnership” and he expects they will generate profits on “new services and new corridors”.
The MoneyGram CEO stated that what they have with Ripple is a “good partnership” and he expects they will generate profits on “new services and new corridors”.
The lawsuit concerns scams on YouTube that entice investors to send XRP to specific wallets in exchange for a bigger amount of XRP in return.
In using the ODL platform, MoneyGram said it expects this partnership will allow them to reduce their working capital needs, generate earnings, and provide cash flow.
According to a blog post, half of Ripple’s customers that are on RippleNet are based in the Asia-Pacific region.
FastSend allows MoneyGram customers to send money to a phone number in real-time via a website or a mobile app. The service is using Visa’s “Direct Original Credit Transaction” so that the funds are delivered to a bank account through a debit card deposit.
Ripple announces that its RippleNet system has achieved 300 customers while achieving a 10x year-over-year growth in transactions.
The partnership allows Xendpay to open new remittance corridors to countries like the Philippines, Bangladesh, Malaysia, and Vietnam.
When I was testing this method by transferring a small amount of XRP from Binance to Coins.ph, the transfer fee is 0.25 XRP. At Php 16 per 1 XRP, that’s Php 4.
Ripple noted how payments across borders have been slow and marked by friction in the past 20 years.
Ripple also said that they are working with a local PH bank but declined to identify it by name.