Brazil
Paytech South America Trending

Modulr and Ripple Partnership Boosts Remessa Online With Cross-Border Payments

Brazilian fintech Remessa Online has joined forces with Modulr and Ripple to drive its cross-border payments from Brazil into the UK and Europe.

Payments platform Modulr and enterprise blockchain and crypto solutions provider Ripple announced a partnership to enable seamless payments into the UK and Europe in Februrary 2022. Here, the partnership aims to make it easier for Remessa Online to run real-time payments internationally.

Remessa Online can now provide its customers with access to Single Euro Payments Area (SEPA) Instant payments and the UK’s Faster Payments; enabling them to make payments 24/7, 365 days a year to the UK and Europe. It is the first Brazilian business to establish a partnership with Modulr.

With Modulr’s access to UK and European payment rails and RippleNet’s international infrastructure, Remessa Online has an alternative to legacy correspondent banking and can now make payments into the UK and Europe quickly, reliably and cost-effectively.

Myles Stephenson, founder and CEO of Modulr, comments: “We’re delighted Remessa Online is our first Brazilian fintech customer to take advantage of our partnership with Ripple. We share the goal of making international payments as seamless and fast as possible by removing the hidden inefficiencies hampering international payments today. At Modulr, we’re looking forward to working with Remessa Online and our long-term partner Ripple on delivering real-time, reliable and transparent payments into the UK and Europe.”

While, Alexandre Liuzzi, chief strategic officer and founder, Remessa Online, added: “Remessa Online is thrilled to partner with Modulr, whose unrivalled connections to critical payment infrastructure in the UK and Europe is critical for us to provide the payments experience our customers expect.

“Thanks to the partnership, we can now provide our customers with huge benefits in terms of low cost and efficiency. This enables them to discover new opportunities, embed new payments functionality into their systems and ultimately expand their own businesses further. Together we can get closer to our goal of being the best infrastructure provider for cross-border payments in Brazil.”

Sendi Young, MD Europe, Ripple, also commented: “Our partnership with Modulr will enable Remessa Online to remove many of the inefficiencies associated with legacy payments technology. In doing so they will be in a position to offer their customers reliable, cost-effective and more transparent cross-border payments from Brazil into the UK and Europe, and at the same time supercharge the performance and scale of their business.”

Modulr is authorised and regulated by the FCA as an Electronic Money Institution. This means it can issue GBP accounts with dedicated account numbers and sort codes.

Author

Related posts

Cybercriminals Favour Financially Motivated Ransomware Attacks To Hit Firms for $4.44million

Claire Woffenden

Klarna Data finds Women Spend Less with Buy Now Pay Later and Repay Sooner

Polly Jean Harrison

95% Of Procurement and Finance Professionals Struggle to Track VAT Changes Due to Tax Landscape

Polly Jean Harrison