As Ripple continues its legal battle with the SEC in the United States, the company’s European branch is working to continue its legacy. In fact, according to a ad Recently from Sendi Young, Ripple’s European Development Director for RippleNet, the company has struck a deal to help a UK-based company expand its real-time payments.
Young, who is also a former senior executive at Mastercard, stated that Ripple is working with Paydek from the UK, which wants to bring its payments in real time to South American and African countries. According to Young, this will significantly help freelancers and on-demand workers in these countries get paid quickly and smoothly.
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The combination of RippleNet’s and Ripple’s Paydek payment services has already improved conditions for users in the UK, allowing for the management and improvement of payments for individual and business customers. The country’s self-employed and corporate customers in on-demand markets often faced a number of problems that the combination of the technologies of the two companies managed to solve.
As a result, the on-demand market is growing and is expected to reach $ 455 billion in the next two years.
How will companies benefit from this movement?
As some may know, Ripple and Paydek have collaborated before, in Africa. Now, however, the partnership with Localpayment will allow them to also reach Latin America, where RippleNet already has a certain presence.
In other words, Ripple has opened an important door for Paydek and can provide numerous opportunities for the payments company, such as the creation of additional payment channels in the new regions. More than that, Paydek can create a new infrastructure that will enable cheap, fast and secure payments.
Regarding Ripple, Young said the company will allow it to further expand its presence in Latin America and Africa, and enable the implementation of innovative solutions, as the company continues to pursue the digital remittance market.
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