Ripple (XRP) recently announced that RippleNet would help Ria to settle transactions with ‘increased speed and efficiency’. Ria Money Transfer has partnered with Ripple for its blockchain payment service, as well as the growing number of financial institutions worldwide.
— Ripple (@Ripple) May 6, 2019
This coming together of both Ria and Ripple would help customers by improving the visibility of fees and transaction status and the expected time to complete the transaction by providing end-to-end tracking. Using the solutions from Ripple and a standardized set of rules, RippleNet enables those connected to receive and send payments effectively around the world.
Ripple Net provides one, frictionless global payment experience. Instead of a constellation of different technology, unstandardized communication, and centralized networks, the Ripple network is a single global banking network, providing real-time messaging and settlement of transactions, allowing payments through the distributed financial technologies of Ripple.
Ria is among the world’s largest payment service providers, with customers in more than 155 countries, over 377,000 locations and $ 40 billion in money transfers per year. Ria can settle transactions with higher speed, transparency, and efficiency by joining RippleNet’s network of over 200 financial institutions worldwide and provide a better customer experience.
When asked for a comment Marcus Treacher, the SVP of Customer Success at Ripple said-
Ria not only improves our value chain for our partners through its access to RippleNet but will further improve the transfer times and cost for both its clients and business customers.