Xendpay opens up new remittance markets with Ripple to improve speed and stay ahead of the competition.
Goal: Xendpay looked to open new markets by providing payments in local currencies and enhancing its reputation as a low-cost service.
Solution: Joining RippleNet has allowed Xendpay to establish local partnerships quickly and significantly boost its transaction volumes and new customer acquisition rate.
Low-cost online money transfer service provider based in the U.K. with customers across the globe
The total annual transfer value customers can choose to waive fees on (in GBP or equivalent currency)
Reduction in processing times
New currencies added over the past year
“By helping us to continually open up new markets, keep our fees low and reduce processing times from days to an hour, Ripple ensures Xendpay remains ahead of the competition.”
Bhavin Vaghela, Head of Product Innovation at Rational Group
Entering New Markets Faster
With a single connection and standardized operational framework, RippleNet offers a robust network of trusted partners around the world and a simple solution to this complex IT problem. For Xendpay, this means reducing time-to-market for opening new corridors from an average of 3-4 months to just around four weeks. Ripple has also significantly helped Xendpay reduce the time it takes for processing cross-border payments from 3-4 days to just hours. This has given Xendpay a new competitive edge and had a direct effect on the company’s ability to acquire new customers.