This article was first published on Insights – Ripple
Marketplace businesses are expanding access to new global customers and consumer access to new products—allowing sellers to grow their business faster than ever before. Yet, while these platforms meet consumer’s requirements for simple and efficient purchases, today’s slow, complex global payment processing and settlement experience is unable to shoulder the needs of businesses in this growing industry.
Together with our customers, we are changing this status quo. We are thrilled to announce a new partnership with Lemonway, the pan-European payment solution for online marketplaces. Through RippleNet, Lemonway is now connected to Nium to transform its international payments and significantly decrease payout times for its customers.
More than 1,400 European marketplaces, including 200 crowdfunding platforms, rely on Lemonway’s robust payment processing and management solution. But managing increased transaction volumes across hundreds of merchants at scale comes with challenges, particularly the long processing times of traditional cross-border payment services.
“As a company that embraces innovation, we are always looking for new business models and technological capabilities that can enable us to offer better services to our merchants,” said Lemon Way’s Chief Commercial and Marketing Officer, Martin-Pierre Gaultier. “Our partnership with Ripple is a testament to this, and we’re excited to be able to offer faster and more cost-effective payouts to support the evolving needs of our customers and merchants.”
By joining RippleNet and their connection to Niums global money transfer network, Lemonway can improve its euro-to-euro payment corridors—and can expand to other currencies and corridors in the future. Through this partnership and RippleNet’s access to hundreds of global financial institutions, Lemonway ensures transparent, reliable and real-time payments, at a lower cost—a key competitive differentiator that helps Lemonway attract new customers.
“We are happy to announce the enhancement of payment routes for Lemonway users. Nium looks to create ...
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Insights – Ripple