Ripple partnership with Intermex to enable faster cross-border payments between United States and Mexico
Ripple, a cross-border payment company, has just announced a new partnership with International Money Express, Inc. (Intermex), a leading money transfer services company, to allow faster cross-border payments between the United States and Mexico.
In an important step in changing the status quo of today’s slow and expensive cross-border #payments, we are thrilled to share a new partnership with @IntermexWire. https://t.co/Ne775C94en
— Ripple (@Ripple) February 4, 2020
Details of the partnership between Ripple and Intermex
According to the report, Intermex is a company focused primarily on Latin America and the Caribbean corridor. This new partnership will provide Intermex with support to promote RippleNet for faster and transparent cross-border remittance services between the United States and Mexico.
It is a common desire to experience smooth, easy, fast, and cost-effective global money transactions. However, the systems of the rule are involved, making these aspirations difficult.
The complexity of the systems has led to high offshore transfer fees and unacceptable delays in transactions. Ripple sees these holes as an opportunity to gain additional traction by accompanying a permanent solution.
According to Ripple in the report, there is nowhere else more important for money transfer services than for low- and middle-income countries, where the need for instant payments and low costs is essential.
This, according to Ripple, has resulted in a partnership with International Money Express, Inc. (Intermex), as there is an increase in remittance payments across Mexico.
According to the report, Intermex is one of the largest money transfer service providers from the United States to Mexico in the world. The company processes more than 30 million payments a year through its network of 100,000 payment locations.
With the support of this cooperation, Intermex will have access to the settlement of major currencies. It will also be able to match sponsorship times with payment requirements, directly reduce costs, and provide transparency to its customers.
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