Ripple power B2B payments through new collaboration

Both companies are sure that adding more technology options is even more critical to ensuring faster payments worldwide

Ripple

Ripple power B2B payments through new collaboration. Source: shutterstock.com

Ripple and Cambridge Global Payments have partnered to optimize payment delivery using RippleNet.

During the pilot phase of the partnership, deposits to vendors who used Siam Commercial Bank saw a 99% reduction in time to payout with RippleNet compared with other providers.

Cambridge also reported experiencing a higher level of transparency and certainty throughout the payment process.

The company is exploring additional countries and currencies that can benefit from access to RippleNet, according to the report.

We entered into the relationship with Ripple because it presented Cambridge a great opportunity to use distributed ledger technology to reduce the amount of time it takes for customers to pay their overseas vendors. By expanding this relationship, we broaden our reach into the Asia-Pacific region, while providing customers the rapid payment delivery they expect
Mark Frey, President, Cambridge Global Payments

We’ve reported that Ripple’s University Blockchain Research Initiative (UBRI) continues to grow with ETH Zurich, University of Zurich, Ryerson University and Instituto Tecnológico Autónomo de México (ITAM) joining.

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