The post Ripple Expands Remittance Capabilities in Africa with New Blockchain-Based Payment Corridors appeared first on Coinpedia Fintech News
Ripple is collaborating with payments fintech Onafriq to expand remittance capabilities in Africa and across borders with Gulf nations, the UK, and Australia.
The partnership aims to open three new blockchain-based payment corridors between Onafriq users in Africa and customers of PayAngel in the UK, Pyypl in the GCC, and Zazi Transfer in Australia.
The announcement was made at Swell, Ripple’s annual conference in Dubai.
Ripple is partnering with payments fintech Onafriq to expand remittance capabilities in Africa with three new blockchain-based payment corridors. These will enable Onafriq users to transfer money to customers of PayAngel in the U.K., Pyypl in the Gulf Cooperation Council (GCC), and Zazi Transfer in Australia. The announcement was made during Ripple’s annual conference, Swell, held in Dubai.
Partnership Aims to Offer Fast and Affordable Payments in Africa
Onafriq, a pan-African-based payment gateway, has teamed up with Ripple Payments to open up three new payment resources between Africa and the rest of the world. The partnership enables customers of PayAngel in the UK, Pyypl in the GCC, and Zazi Transfer in Australia to make speedy and cost-effective remittance and business payments to recipients in 27 countries across Onafriq’s network by utilizing Ripple’s crypto technology. Onafriq is eliminating traditional cross-border payment challenges, such as lengthy transfer times, unreliability, and excessive costs. This collaboration is expected to boost financial inclusion in Africa.
The announcement made by Dare Okoudjou, Founder & CEO of Onafriq, is set to appear at Swell Global 2023, the seventh edition of Ripple’s annual customer conference, which this year takes place in Dubai.
“For a number of years, Ripple has supported crypto-enabled, cross-border payments to individuals and businesses, and we are particularly excited to expand the reach of our solution into Africa thanks to our Onfriq partnership,” said Aaron Sears, SVP, Global Customer Success at Ripple. “Connecting our partners PayAngel, Pyppl and Zazi Transfer with Onafriq over Ripple Payments will bring the benefits of faster and more cost-effective cross-border payments to individuals seeking to send money into Africa from around the globe.”
Through this partnership, the company hopes to strengthen its impact on people and businesses on the continent. With a presence in over 55 countries and six continents, Ripple has become a go-to provider for blockchain-enabled payments infrastructure.
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