Ripple decacorn has published an article reporting that another payment company has joined RippleNet in order to enjoy the benefits of this partnership.
Lemonway joins the Ripple network
Ripple has unveiled a new partnership—this time with Lemonway, a Europe-based payment solution for online marketplaces, accessible anywhere in Europe.
Ripple keeps reminding the world that the current settlement system fails to satisfy the growing needs of modern businesses working online, with the ongoing pandemic as a major driver for this expansion.
Lemonway has partnered with Ripple and gotten connected with its partner Nium via RippleNet.
Joining forces with Nium via RippleNet
By connecting to Nium, Lemonway intends to introduce major upgrades to its system of payments and make its transactions cheaper for clients.
Lemonway boasts working with almost 1,500 marketplaces in Europe with 200 crowdfunding platforms among them. However, greater challenges are coming with a large amount of customers with traditional payment solutions taking a very long time to process payments.
Lemonway's chief marketing officer, Martin-Pierre Gaultier, stated that their company is currently rushing to integrate innovations to improve its technical basis and provide better services to clients and merchants.
Improving Its EUR payment corridors
Their partnership with Ripple comes in handy here and will allow the company to improve its EUR-to-EUR payment corridors. Later, they plan to boost their platform by adding more currencies and payment corridors.
Thanks to RippleNet, Lemonway will be able to access over 300 Ripple customers—global financial institutions, payment platforms and networks.
Six to eight tln USD are generated annually by marketplaces in global payment volume, and this figure grows at the rate of 10 percent per year.
However, current payment systems can take up to a week to process a payment and push the money from the sender to the receiver. RippleNet intends to solve this issue and help other payment companies do so as well.