Chipper Cash, cross-border payment solution that operates in nine African countries, has partnered with Ripple, U.S.-based digital asset infrastructure and top provider of crypto-powered payment solutions, to facilitate cross-border payments into Africa using Ripple Payments.
The Ripple Payments is a crypto-enabled solution designed to facilitate faster, more affordable, and efficient international money transfers. The main purpose of the partnership is to lower cross-border fees and reduce transaction time.
At the same time, the partnership will also allow Chipper Cash to further expand its remittance offerings to its over 5 millions customers with more advance solutions. It's worth noting that Ripple is a global player in digital payments infrastructure, and the company is processing over $70 billion in cross-border transactions.
Ripple is using the partnership to expand its Ripple Payment into Africa so that millions of Africans can receive seamless, faster, and more affordable payments from around the world. Reece Merrick, managing director for the Middle East and Africa at Ripple, described the partnership with Chipper Cash as a key milestone in the company’s expansion into Africa.
In addition to how partnership will work, the system will leverage Ripple’s blockchain technology to enables beneficiaries to receive funds from around the world at any time of day (24/7 global remittances). Specifically, Ripple Payments covers over 90 markets worldwide and handles more than 90% of daily foreign exchange transactions, worth over $70 billion.
