Ripple has just entered a new partnership with a leading digital banking and payments company, Novatti to fast track growth in South-East Asia, a new announcement shows. The partnership will enable Novatti’s customers to access Ripple’s services which major remittance companies such as MoneyGram and American Express already use.
Initially, the partnership will start with facilitating cross-border payments between Australia and South-East Asia. Eventually, Novatti could be processing Ripple’s cross-border payments from other regions into Australia. Speaking on the partnership, the Managing Director of Novatti, Peter Cook said:
“Novatti is incredibly excited to partner with Ripple, who are rapidly disrupting the global payments industry. This partnership will further increase Novatti’s competitiveness and provide our customers with access to new, innovative payment solutions. In particular, we look forward to working with Ripple to provide our customers with access to their exciting alternative financing solutions, so that our customers can free-up capital to focus on growing their businesses.”
Novatti is a top digital payments company in Australia. The company provides services such as fintech, automated billing, and business which allows fast, secure, and simple payment processing. The company also issues cards and payment processing and settlement as well as merchant acquiring. This makes it poised to provide the best services to its customers in the evolving cashless society.
Ripple is a renowned leader in the remittance industry globally. The company uses Distributed Ledger Technology to process fast, cheap, and easy payments for over 300 financial services companies worldwide. The network used for these transactions known as RippleNet uses XRP as a source of liquidity to process transactions worth billions of dollars. Ripple has offices all over the world in Mumbai, Singapore, São Paulo, Reykjavik and Dubai, New York, and Washington D.C while the headquarters is in San Francisco.
Cook is confident that the partnership with Ripple will help to expand Novatti’s reach into South-East Asia as well as boost its transaction volume and revenue for the company’s core payment processing business. The company already has partnerships with leading financial services companies including Visa, Alipay, UnionPay International, Google Pay, Samsung Pay, Marqeta, and Decta.