• Ripple Payments helps fintechs grow faster with 24/7 real-time cross-border payments, boosting revenue and expanding global reach.
  • Fintechs using Ripple Payments bridge gaps left by banks, offering faster, affordable international transactions to stay competitive.
  • Ripple Payments’ single API lets fintechs offer instant, affordable payouts in 80+ countries and 50+ currencies, anytime, even on holidays.

Ripple’s study demonstrates how fintechs’ market share can increase through real-time cross-border payments. For fintechs, Ripple Payments is a potent answer as the need for quicker, less expensive, and more transparent international payments continues to grow. This tool equips them to better meet the needs of businesses seeking efficient global transaction options.

With this service, businesses may pay out anywhere in the world, attract a larger audience, and increase income. In the swiftly evolving financial industry, fintechs can gain a competitive edge by doing this.

Cross-border payments are blockchain’s killer use case. Our report shows how fintechs can win market share with real-time, affordable payments.

Learn how fintechs can expand their reach, boost revenue, and offer 24/7 payouts with Ripple Payments. https://t.co/amSZ3C27Ip

— Ripple (@Ripple) October 1, 2024

Fintechs Bridge the Gaps in the Financial Sector Market

Because they provide innovative services that traditional banks cannot, fintechs have already started to bridge gaps in the financial system. With nearly 90% of financial institutions anticipating a market share loss of at least 5% to fintechs in the coming years, cross-border payment solutions like Ripple Payments offer a unique opportunity to outperform competitors.

Businesses that need speedier solutions are frustrated by the continued slowness, expense, and ambiguity of international payments. In addition, the system of correspondent banking is getting smaller, which makes it more difficult for businesses to handle globally. By implementing Ripple’s simplified global payments network, which removes numerous counterparties to lower costs and points of failure, fintechs may close this gap.

Ripple’s Global Payments Network and Real-Time Solutions

Moreover, Ripple Payments delivers near real-time settlement , visibility into transaction fees, and a full picture of the payment status, helping fintechs to manage their cash flow effectively. These characteristics are especially important in the complex supply chain environment of today, where payments must be made quickly and transparently.

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Furthermore, fintechs can connect to Ripple Payments’ global payments network using a single API to take advantage of pre-negotiated rates in more than 50 currencies and 80 countries. Fintechs may therefore provide quick, reasonably priced payouts around the clock, even on weekends and holidays. Fintechs have an edge over traditional payment providers because of these capabilities because the latter frequently operate during set banking hours.

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