MoneyMatch is an international remittance provider that focuses primarily on small to medium-sized companies based in Malaysia. After they adopted the protocol from the San Francisco-based Company ripple, they had faster and low-cost payment services which were provided to more than 120 countries on a global scale. Before MoneyMatch adopted the ripple powered solution, the company was using the traditional SWIFT network which helped them clear European payments. This typically took up to 48 hours for a transaction to clear however, with the Ripple solution, only a few hours are needed.
“We struggled to find a decent European partner and were stuck using the SWIFT system to make payments there. Working with RippleNet partners allowed us to cut our costs by as much as 40% and instead of transactions taking at least two days, we were completing payments in just a few hours.”
Co-founder, Adrian Yap stated:
“Banks typically focus on larger customers who are sending higher volume transactions and can afford higher fees.” SMEs don’t have much choice other than to accept these same rates, which adds to the cost of dealing with foreign suppliers. We worked with Ripple to create an improved cross-border payment process that offers these customers better rates and faster transaction times.”
We at MoneyMatch would like to serve our customers with your best interests in mind. And that’s why we have joined RippleNet to serve you by assisting global transfers seamlessly in the fastest & most cost-effective way.#ripplenet #moneymatch @Ripple https://t.co/TLyWuMp2Jt
— MoneyMatch (@moneymatchapp) June 18, 2020
Let’s look at the current destinations supported by MoneyMatch and compare them to the known ODL corridors:
Australia (AUD)
Malaysia – Australian Dollar
Brunei – Australian Dollar (coming soon )
Mexico (MXN)
Malysia – Mexican Peso
Brueni – Mexican Peso (coming soon)
Philippines (PHP)
Malaysia – Philippine Peso
Brueni – Philippine Peso (coming soon)
United Kingdom (GBP)
Malaysia – Pound Sterling
Brueni – Pound Sterling (coming soon)
Euro (EUR)
Malaysia – Euro
Brueni – Euro
Austrai – Euro
Brazil (BRL)
Malaysia – Brazilian Real
Brunei – Brazilian Real
