Investing.com – has meanwhile made a name for itself with payment service providers and financial institutions in the field of cross-border payments. The know-how acquired over the past few years must now be used to offer its payment solutions to private companies. Transactions for suppliers and employees can thus be processed more quickly and at lower cost.
For cross-border payments made through established financial institutions, the recipient must pay an average of seven percent in fees. A problem that the Fintech company is actively working to remedy. Brendan Berry, Director of Payment Solutions, says:
“As the world becomes increasingly global and interconnected, businesses around the world are looking for solutions to tedious payment issues when they have internationally dispersed employees or a worldwide supplier and customer base. After years of working closely with payment service providers, banks, fintechs and financial institutions, we know first-hand the challenges our customers face on a daily basis.
Over time, a large customer base, which does not only consist of financial institutions, began to seek assistance in solving cross-border payment challenges. Many trading partners, in particular, now want to take advantage of the benefits of the Ripple solution for crypto cross-border payments. Our goal is to serve every business client, regardless of industry, who can benefit from faster, cheaper and more efficient cross-border payments.”
Ripple’s On-Demand Liquidity (ODL) service is already available in 40 different countries and more and more customers using the Fiat RippleNet service are deciding to switch to ODL.
Agricultural technology company Nutrisource and food technology company Oceanus Group Limited are the first customers in this new business area.
Ripple Technical Price Marks
Ripple is currently rising at one at a price of $0.3754, Ripple is up 0.92%, while the weekly loss stands at -1.43%.
On the 4-hour chart, a sideways channel is forming, limited on the downside by the November 9 low at $0.3203. On the other side, the 38.2% Fibo retracement at $0.3926 offers resistance that has only been breached occasionally in the meantime.
The 23.6% Fibo retracement of $0.3649 offers immediate support and as long as daily close trading is above it, we can expect a test of the 38.2% Fibo retracement.
If this resistance is sustainably broken, then focus will shift to the 50% Fibo retracement of $0.4149.
By Marco Oehrl