1 August 2026
Ripple Is The Best Solution When It Comes For Overseas Payments
Ripple has been in a long time in DLT based global payments and partnered with 200 companies that include banks and other financial institutions. Ripple is working hard towards new markets where a big issue is global payments. When one has to make cross-border payments from developing countries, it can be a bit expensive as well as time-consuming that leads to difficulty in the expansion and operations of the business.
Ripple wants to help firms in areas like South America, Asia, North Africa, etc., where it can remove the difficulties through blockchain-based payments and expand its business reach. Ripple shared one example of a developer business model and how it got benefitted hugely by Ripple’s technology.
A Brazilian entrepreneur, Erick Gutierrez took the help of Ripple to built his business on the world map and solved the major problem of money transfer. Post shared states that Gutierrez was facing problems with traditional payment methods, and even platforms like MoneyGram, PayPal, Western Union, etc. These platforms were either too expensive or, take too long to process payments or is some cases, did both.
Through Ripple, Gutierrez was able to pay his freelancers around the world and could hire people from others on a full-time basis because of its formidable payments structure. He was also able to receive money quickly from his international clients and the website reach increased from half a million in 2017 to 1.5 million per month today.
Gutierrez used BeeTech Global which was powered by the Brazilian payments processor that cut down the time of payments from five days to one. The firm also paid 80% fewer payment fees compare to other options. This saves the time of and money of the company and it could focus on its core competencies rather than waiting for payments processing.
Its official website of Ripple states, “ With Ripple, BeeTech was able to eliminate SWIFT fees for all of its remittance corridors, dropping in its own fees from $20 to $2 per transaction in the process.”
This sets an example for developing countries like India, Brazil, Taiwan, etc., where they face such obstacles during money flow but through blockchain-powered payments, it could completely change the business scenario. The three platforms- Ripple, SWIFT, and Steller can develop global payments structure which can overcome political restrictions, reducing time consumption and processing fees significantly."
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