Trust Payments, the disruptive leader in fintech specialising in frictionless payments and value-added services to SMEs, will be the first customer to benefit from a new partnership to enable seamless payments into the UK and Europe between leading payments platform Modulr and Ripple, the leader in enterprise blockchain and crypto solutions.
Trust Payments will now be able to run real-time payments internationally powered by Ripple’s financial technology, RippleNet and Modulr’s technology. This will also offer global businesses an alternative to legacy correspondent banking.
Customers of Trust Payments will now be able to make payments into the UK and Europe faster, more reliably, and cost-effectively. Modulr is one of few non-banks to be directly connected to the Bank of England, allowing the payments platform to settle funds at the Central Bank.
As the first company to directly benefit from the partnership between Ripple and Modulr, Trust Payments can continue to expand its service and deliver new payment options.
“We’re excited to partner with Ripple – we share the same fundamental goal which is to make it easy to send and control global business payment flows by removing the hidden inefficiencies plaguing international payments today. This partnership lays the groundwork for even bigger things to come.”
Myles Stephenson
CEO and Founder, Modulr
“Together we look forward to providing faster, simpler cross-border payments experience for customers on RippleNet into the UK and Europe.”
Sendi Young
Europe Managing Director, RippleNet
Ripple is the market leader in blockchain and crypto enterprise solutions and Modulr is authorised and regulated by the FCA as an Electronic Money Institution (Modulr FS Limited), and so can issue GBP accounts with dedicated account numbers and sort codes.
About Modulr
Modulr is the Payments as a Service API platform for digital businesses. It integrates into any product or system. Modulr’s new type of payment accounts are built for businesses that need a faster, easier and more reliable way to move money. Businesses can automate payment flows, embed payments into their platforms and build entirely new payment products and services themselves. All managed in real-time, 24/7 from one API.
Modulr’s API makes it easy for businesses to streamline existing services, launch new products and scale more efficiently. Modulr FS Limited (900573) is an Authorised Electronic Money Institution, regulated by the Financial Conduct Authority. Modulr FS Europe Limited (C191242) is authorised and regulated by the Central Bank of Ireland and as an Electronic Money Institution. Modulr Finance B.V. (R182870) is an Authorised Electronic Money Institution, regulated by the De Nederlandsche Bank (DNB). Modulr has offices in Edinburgh, Amsterdam, London and Dublin.
For further information – please visit www.modulrfinance.com
About Ripple
Ripple is doing for value what the internet did for information: enabling its instant and seamless flow around the world. We call this the Internet of Value (IoV). Using blockchain and cryptocurrency technology, Ripple is dedicated to creating powerful gains in financial efficiency, equity and inclusion. In addition, Ripple is developing and enabling the future use cases that will catalyze the new digital economy for governments, businesses and consumers.
Ripple has offices in San Francisco (HQ), New York, London, Mumbai, Singapore, São Paulo, Reykjavík, Washington D.C. and Dubai.
About Trust Payments
Trust Payments is a disruptive leader in fintech, providing on-demand Banking-as-a-Service and Payment services to help businesses grow and scale online, in-store, and on mobile.
Trust Payments combines these services with powerful tools, such as loyalty management and instant eCommerce, by engaging new innovative payments methods in crypto and bank transfers to drive Converged Commerce™.
Focusing on the SME sector in the UK, EU and US, Trust Payments drives value for our clients through personalised service, secure and frictionless payments and innovative products.
Trust Payments has a global footprint, with over 400 people across 10 offices supporting the most demanding business sectors, from travel and hospitality to crypto, gaming and financial services, and an acquiring network of over 50 global banks and hundreds of alternative payment methods.
Trust Payments holds Visa and Mastercard Principal Memberships in the EU for cross-border business, licenced by both the Malta Financial Services Authority and UK Financial Conduct Authority, and holds licences in 7 US States to carry out regulated payments in gaming.
Find out more at trustpayments.com or check us out on Facebook, Twitter and LinkedIn.
