Remessa Online Partners with Ripple and Modulr.
Remessa Online, a Brazilian fintech for international transfers, has announced it will use Ripple and Modulr for cross-border payments. Backed by a partnership between Ripple, a leader in enterprise and blockchain solutions. As well as global financial technology RippleNet and support from Modulr, the UK and Europe's leading embedded payments platform.
With the support of the partnership, the Brazilian platform Remessa Online can provide the latest customer service. Increase cross-border payments from Brazil to the UK and Europe. And can give its customers access to Single Euro Payments Area (SEPA) instant payments and Faster Payments in the UK; allows them to make payments 24/7, 365 days a year, in no more than 10 seconds, to the UK and Europe.
In the midst of ongoing economic difficulties around the world. As well as Brazil's historically slow cross-border payments. Brazilian businesses today require international payments that are instant, low-cost and as simple as local transfers. Although providing services in international transactions is difficult.
Modulr and Ripple
The Modulr and Ripple partnership will make it easier for Remessa Online to run real-time payments internationally. With Modulr's domestic access to UK and European payment lines and RippleNet's international infrastructure.
Global businesses like Remessa Online can now make payments to the UK and Europe. Which are two important destinations for fast, reliable and cost-effective international transfers.
According to Myles Stephenson, Founder and CEO of Modulr. Remessa Online is the first Brazilian business to enter into a partnership with Modulr. A long-term partnership with the goal of being able to continue to expand services and bring new payment options to market quickly.
Sendi Young, Managing Director, Europe, Ripple, shares the same view regarding cross-border payments. This partnership is expected to remove the inefficiencies associated with legacy payment technologies. Offering reliable, cost-effective and more transparent cross-border payments to customers from Brazil to the UK and Europe. And at the same time increase their business performance and scale.
Modulr is authorized and regulated by the FCA as an Electronic Money Institution (Modulr FS Limited). Thus can issue GBP accounts with custom account numbers and sort codes. As a direct participant of the Faster Payment scheme. In the EU, Modulr is authorized and regulated as an Electronic Money Institution by the Central Bank of Ireland (as Modulr FS Europe Limited) and De Nederlandsche Bank (as Modulr Finance B.V.) in the Netherlands and the EU.
