RocketFuel Blockchain Inc (OTCQB:RKFL) announced it is teaming up with blockchain technology company Ripple to enhance the efficiency and cost-effectiveness of financial transactions for merchants and partners worldwide.
The partnership involves the integration of Ripple Payments into RocketFuel's suite of payment products, catering to the growing demand for faster, more reliable, and cost-effective FIAT payments.
RocketFuel's diverse range of products will leverage Ripple's cutting-edge payment solutions for businesses sending and receiving payments both domestically and across borders.
One of the key products incorporating Ripple Payments is "RocketFuel Pay-In Commerce," enabling merchants to accept payments in various cryptocurrencies and ACH bank transfers, both in-store and online. This feature simplifies the payment process, making it easy for customers to complete transactions using methods like Bitcoin and other digital currencies.
Furthermore, "RocketFuel Mass Pay-Out" allows merchants to disburse payments to a large number of customers and partners globally, providing the flexibility to choose between cryptocurrency or traditional bank transfers.
The partnership also introduces "RocketFuel Cross Border B2B," a solution that empowers companies to send large amounts of funds across borders utilizing blockchain and stablecoin technologies.
"Existing rails and technologies used to transfer money cross borders are based on old, outdated technologies and processes and are becoming increasingly problematic for businesses,” RocketFuel CEO Peter Jensen said in a statement.
Contemporary blockchain and cryptocurrency technologies offer fresh avenues to enhance cross border payments, Jensen added.
“By leveraging the power of Ripple's cutting-edge payment solutions, we are able to revolutionize the way businesses transact by creating better, faster, and cheaper payment experiences for our merchants and partners worldwide."
Brendan Berry, head of payments product at Ripple, told investors that the company works with its partners to empower businesses globally by providing efficient and cost-effective payment solutions using crypto and blockchain technologies.
“Together, we are revolutionizing the way that value is exchanged around the world,” Berry added.
RocketFuel offers a comprehensive suite of integrated payment solutions that enable companies worldwide to send and receive payments in both cryptocurrencies and FIAT currencies. With the ability to transfer large amounts cross-border using blockchain and stablecoins, RocketFuel's offerings are poised to address the evolving needs of businesses in the modern financial landscape.