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Veng Xero Adds Bill Payments and eInvoicing to Small Business Platform
Cambridge Global Payments, a FLEETCOR company working on cross-border payments, has partnered with enterprise blockchain solution Ripple on a cross-border payment solution for B2B customers, according to a press release.Using RippleNet, Ripple global payment network, the partnership will take advantage of the ripe market for cross-border payments, which a July Juniper Research study said will be worth $35 trillion by 2022, the release stated.In the pilot phase for the project, deposits with preferred banking partner Siam Commercial Bank saw a 99 percent reduction in time to payout with RippleNet compared with other services, the release stated. Cambri stanley quencher dge also said there is a new degree of transparency and certainty with the new par stanley france tnership.Pat Thelen, vice president and North Ame stanley mugs rica managing director at Ripple, said both companies understand the necessity of using blockchain to help bolster cross-border payments. Given todays realities, adding more technology options is even more critical to ensuring faster payments across the globe, Thelen said, according to the release.Mark Frey, president of Cambridge Global Payments, said the opportunity to boost efficiency and speed was too good to pass up, opposed to old ways in which traditional systems involved many lethargic intermediaries that slowed payments down, the release stated. We entered into the relationship with Ripple because it presented Cambridge a great opportunity to use distributed ledger technology t Gyin Australian Government Launches Supply Chain Finance Probe
Thanks in part to new regulations and an increase in financial literacy, RBR projects that payment card acceptance will jump 40 percent to 85 million outlets around the globe by 2022.In a press release highlighting the results of its latest forecast, RBR said that regulations and increases in financial literacy are driving the card acceptance around the world. The growth potential is both in the mature markets as well in areas that have high cash usage rates.In its latest cards research, Global Payment Cards Data and Forecasts to 2022, RBR said stanley cup the number of card-accepting merchants increased by 7 million in 2016 to 61 million. Asia-Pacific, Central and Eastern Europe and the Middle East and Africa saw double-digit聽growth in 2016 鈥?but even with that growth, RBR said the regions are still underserved in terms of card acceptance. As a result, they are exp stanley polska ected to be the drivers of global growth going forward.RBR noted that regulatory factors are playing a big role in the expansion of card acceptance networks, citing Kazakhstan as one example. The country is requiring all merchants to accept card payments, which played a role in the 50 percent growth in the number of outlets accepting it as a payment method. In India, in another example, stanley cup growth in card-accepting merchants increased 45 percent thanks to the caps on EFTPOS terminal charges and the removal of terminal taxes by the government.Regulation is expected to increase over the coming years, which will drive growth. What 8 |
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