The UK-based payments company, Paydek, turned to Ripple to help solve these problems faced by their customers – website designers, independent contractors, and payroll companies – to deliver reliable, real-time cross-border payments into new markets through RippleNet.
Ripple’s head of European development of RippleNet and former Mastercard top executive, Sendi Young, stated:
Excited to continue @Ripple’s momentum in EMEA with new customers and connections, as Paydek brings real-time payments to freelance and on-demand workers in LATAM and Africa! https://t.co/rrx9smZm2f
— Sendi Young (@sendiyoung) September 16, 2021
Ripple helps U.K.-based company Paydek stretch out to Africa and LATAM
According to Young, Ripple now helps U.K.-based company Paydek enable real-time payments to freelancers and on-demand workers in Africa and Latin America because freelancers and on-demand workers in African and Latin American countries can now enjoy sending and receiving real-time payments via Paydek thanks to RippleNet.
Paydek provides various cost-effective payment options, so its customers can choose what works best for them, including prepaid cards, debit cards, dedicated IBAN accounts, bank account payments, OTC transfers, and wire transfers. As adoption of digital technology continues to soar in emerging markets and becomes the preferred option to support payments, those championing speed, security, and choice in payments will be the providers of choice for on-demand workers.
The company has joined RippleNet and is now using this network’s opportunities to solve issues its corporate and self-employed freelance customers face in the on-demand market, which is expected to swell to $455 billion within the next two years.
Initially, Paydek partnered with Ripple in Africa. But now, after partnering with Localpayment, it has also expanded to Latin America, using RippleNet.
Using the opportunities offered by Ripple, the company plans to create more payment rails in these regions, as well as new infrastructure for fast, cheap, and secure payments.
“Expanding RippleNet to serve Paydek’s customers better is a testament to the power of blockchain technology to transform global payments significantly,” said Sendi Young, Managing Director of RippleNet Europe. “Through Paydek, Ripple is strengthening its presence in Africa and Latin America to drive innovation in digital remittances, in regions where faster payments are crucial to people’s livelihoods.”
Young of Ripple stated that this partnership would help Ripple expand its presence in Latin America and Africa and enable innovative solutions in digital money transfers.
Paydek supports nine local African currencies, including XOF, XAF, SLL, KES, RWF, TZS, GHS, UGX, and ZAR. In partnership with Localpayment In Latin America, it will support MXN, ARS, CLP, and UYU.
Read more:
- Legendary Trader Peter Brandt Posted A Potentially Constructive Long-Term Chart For XRP Price
- This Could Be The Key Distinction Between XRP And ETH In The Securities Story With The SEC