I-Remit Inc. (PSE: I), the Philippines’ largest non-bank remittance company, forged a partnership with San Francisco based fintech, Ripple, on August 15, 2018. I-Remit adopts and integrates Ripple’s block chain cross-border settlements and payments technology solution xCurrent to its infrastructure. I-Remit transactions will move on the rails of RippleNet, a fast expanding global payments network of banks, other financial institutions, and a diverse set of companies and customers.
The adoption of the technology will drive down transactions cost, enhance speed and scale, and minimize fraud vulnerability. The I-Remit-Ripple collaboration is one of I-Remit’s pivotal strategies in achieving industry formidability via digital transformation geared towards boosting customer happiness.