InstaReM and BeeTech have signed a new agreement that will enable real-time payments between South-East Asia and Latin America through the RippleNet platform. It is the first of its kind agreement between two non-bank members of RippleNet. The two firms are one of the few payment processors in the finance market to sign up for the enterprise ready product of Ripple, XCurrent and xVia API for accepting payment flows across countries worldwide in real-time.
New Partnership To Benefit InstaReM & BeeTech Customers
InstaReM is the leading digital cross-border payments provider of Asia whereas BeeTech is a Sao Paulo-based, South American payment service provider. The move to partner on the leading enterprise blockchain network of Ripple is expected to improve the global reach of both the companies as customers of both will be able to take advantage of the Ripple-powered payments during cross-border transactions. Ripple-powered payments are known for fast, transparent and low-cost payments across borders.
Prajit Nanu, the Co-founder, and CEO of InstaReM from Mumbai said, “We are very excited to partner with Brazil’s BeeTech over RippleNet. The connectivity that Ripple’s innovative blockchain network provides will allow us to offer our customers -including corporate and small businesses- quick, hassle-free payments into BeeTech’s markets.”
Enabling Instant Payouts
The users of BeeTech will now be able to make real-time payments via Xvia to around 60 markets across the globe supported by InstaReM. According to the founder and CEO of BeeTech, Fernando Pavani, the partnership is fantastic news for its customers who can now take advantage of the Ripple-powered payments for conducting their transactions into Southeast Asian markets.
Pavani further said that this partnership of BeeTech with InstaReM is expected to provide a one-stop shop experience for its customers as they will be able to send payments and even get access to new suppliers through xVia which is a simple API connection.