Guavapay Limited is an Electronic Money Institution based in the UK and regulated by the Financial Conduct Authority (FCA). Guavapay specializes in cross border cash and digital payments to meet the customers needs for international transfers. Vugar Mammadrzayev, the Head of Global Partnerships at Guavapay gives more details about the recently launched partnership with Ripple.
- Mr. Vugar, what are the main reasons why customers should choose Guavapay?
Guavapay provides its customers with a wide range of services. We provide our customers with the ability to execute their payments in 30+ local currencies, including GBP, EUR, and USD to 100+ countries. A self-onboarding process, online tracking through a web-based client portal, and money transfer on their behalf are just some of the services offered. Moreover, online customer support and FX dealing, competitive customized rate and fees (managed by the Guavapay Treasury Team) – are all provided in a web-based client platform
- Why is the partnership of Guavapay Limited Ripple so important? How will the sides benefit from this partnership?
We are very excited to be a member of RippleNet, Ripple’s global payment network that enables faster and lower cost payments. We hope this partnership will provide us with more opportunities to expand our network, as well as bring speed and transparency to a traditionally slow and opaque industry. Our primary goal is to touch the domestic payment systems in each country, allowing receivers to accept money in their bank account. Thanks to RippleNet we launched a bank account payment service in Thai Baht connecting with one of the leading banks in Thailand, Siam Commercial Bank.
- What are customers’ benefit from this partnership?
This partnership will provide Guavapay customers with speed and convenience - offering an instant and affordable solution to complete bank account payments in THB. After launching our first successful connection over RippleNet with SCB, our next project has already started as we look to add more partners, ultimately providing our customers with first in class service, competitive FX rates and cost-effective solutions to move money around the world.
"We are proud to announce that Guavapay is officially a member of RippleNet, Ripple’s global payments network, to expand our international coverage. Leveraging RippleNet enables our customers to send and receive money instantly, reliably and cost-effectively"