Ripple VS. SWIFT & Western Union: Company Lowers Fees By 80%, Makes Remittance Payments Cheaper And Faster

One of the best features that Ripple’s solutions have been flaunting has been the chance to provide cheaper, safer and faster cross-border transactions.

BeeTech Global is a Brazil-based payment service which uses RippleNet in order to make remittance payments for people from around the world.

BeeTech Global enjoys Ripple’s benefits

The fess used by BeeTech Global thanks to the fact that they’re using Ripple have proven to be much lower compared to Western Union, and their transactions are faster than SWIFT now, UToday reported.

This will definitely turn out perfect for people who are working away from their homes and want to send money to their loved ones.

This is just another example of a company using Ripple’s products and enjoying lots of advantages.

Not too long ago, Euro Exim Bank decided that it’s time to ditch SWIFT and they chose xRapid instead.

Graham Bright, the head of compliance and operations at the bank, has recently told American Banker that there’s a stringent need for a change in technology. They were using SWIFT for a long time.

He said that one of the bank’s transactions got lost recently on the SWIFT network.

He said that this is the main reason for which it’s time to move on to better and safer products.

“It was lost somewhere in the quagmire of a central organization, and we have no visibility on where it is. All the counterparty says is, ‘We have not received your message.’”

XRP, the most traded crypto in the US and Latin America

Meanwhile, XRP gains more and more popularity.

The fiat and crypto trading platform Uphold says XRP is the digital asset of choice among its users across North and South America.

“From January 1 to February 14, 59.2% of its users in the Americas bought XRP”, according to The Daily Hodl.

Ripple and XRP are gaining more and more recognition and adoption these days.

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  • […] Western Union transfers are an alternative to traditional bank wires, and payments made with Western Union are much faster than SWIFT transactions. However, Ripple has a major advantage over Wester Union as well: payments made with Ripple are much cheaper. […]

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