Pan-European payment solution for online markets Lemonway has partnered with Ripple to utilize RippleNet to facilitate international euro-to-euro payments for its customers.
At the same time, the payment protocol company announced a restructuring with its executive leadership across the organization and rebranding two of its products.
Lemonway To Employ RippleNet
Announced earlier today, the partnership between Ripple and the payment institution created in France in 2007 would allow Lemonway to be connected to Nium through RippleNet. By doing so, the French company aims to “transform its international payments and significantly decrease payout times for its customers.”
The collaboration will allow Lemonway to improve its euro-to-euro payment corridors and would enable the company to expand to other fiat currencies in the future. RippleNet will also provide access to hundreds of global financial institutions, ultimately reducing processing time and costs.
“Nium looks to create a fintech infrastructure that can help banks and financial institutions launch and scale innovative digital financial services without the complexity, time, and cost previously required to do so.
This partnership with Lemonway through RippleNet to enhance their payments capabilities is a testament of that.” – commented Global Head of Institutional Business at Nium, Rohit Bammi.
Lemonway’s payment processing and management solution serves more than 1,400 European marketplaces, including 200 crowdfunding platforms. The company noted that having such a considerable number of clients has increased transaction volumes, especially for traditional cross-border payment services. Through RippleNet, though, Lemonway’s services should accelerate substantially.
Internal Executive Restructuring In Ripple And Rebranding
Apart from the Lemonway partnership, the San Francisco-based firm recently announced appointing “new executive leadership across the organization” and the rebranding of two company products.
As a result, Xspring has become Ripple X, while Ripple for Good has obtained a new name – Ripple Impact.
The former director of communications, Monica Long, has received a new role as the General Manager (GM) of RippleX. Long’s mission will be to enhance the adoption and utilization of the native digital asset XRP and the XRP Ledger.
The characteristics of both allow developers to “seamlessly transform existing applications and unlock entirely new user experiences across payments, identity, digital media, and foreign exchange.”