What Is RippleNet?
Creating a New Global Payments Infrastructure
The needs of individuals and businesses sending cross-border payments have dramatically evolved. These customers are now demanding real-time, low-cost and fully trackable payments on a global scale. Yet, today’s global payments infrastructure yields an experience that is slow, costly and opaque.
Ripple solves these pain points through RippleNet, a network of banks, payment providers and others. Employing Ripple’s solutions and a standardized ruleset allows for those connected on RippleNet to efficiently send and receive payments around the world.
Benefits of RippleNet
Access- Gain a single point of access into a global network of institutions using standard rules, formats and governance.
Speed- Route payments efficiently and leverage instant settlement to transact in seconds, instead of days.
Certainty- Maximize end-to-end visibility of fees, delivery time, status and customer information through a bidirectional messenger API.
Cost- Reduce total payment costs by minimizing capital requirements and lowering processing costs.
Access a Global Standard
Current global payments systems are outdated, irregular and fragmented. As a result, banks, payment providers and others working with
new partners in foreign markets create bespoke connections that are often cumbersome and costly. RippleNet avoids these issues by creating technical and operational standardization at the global level.
The RippleNet Rulebook provides the operational standardization. The Rulebook is a legal framework about the rights, obligations and business rules
of network participants. RippleNet’s standardized technology infrastructure complements the Rulebook. RippleNet utilizes a single and decentralized infrastructure across the entire network, eliminating the need for custom integration work. Together, the Rulebook and technology infrastructure create global consistency, making it easy for RippleNet customers to transact with
new partners.
Speed Up Payments
In an age where emails can travel around the world in seconds, it’s unacceptable that payments often take days to reach their destination. On RippleNet, payments reach their destination immediately, thanks to pathfinding and instant settlement.
RippleNet’s pathfinding capability ensures that payments are routed from the originator to the beneficiary in the most efficient way possible. Once a route has been selected, payments settle instantly. This is achieved by securing all transaction legs with a single pass-fail outcome, regardless of the number of transacting parties involved, prior to payments being sent.
Increase
Payment Certainty
All too often payments reach their final destination and the amount received is less than expected, which can be devastating for families and businesses relying on that money. The issues
lie with legacy messaging systems that make it difficult to see transaction fees prior to a payment being initiated. RippleNet ensures payment certainty with instant bidirectional messaging through a messenger API.
RippleNet’s messenger API enables financial institutions to exchange information on know
your customer (KYC) requirements, fees, FX rates, payment details and the expected delivery time of funds, providing unprecedented visibility into the total cost of the transaction. As a consequence, all transacting parties are aware of associated costs, and hence, the amount the beneficiary will receive.
Lower Costs
Existing payment networks depend on intensive capital requirements in the form of nostro account funding, a cost that currently ties up trillions of dollars globally. RippleNet makes accessing on-demand liquidity easy, lowering capital costs. Additionally, RippleNet’s standardized connectivity and rich data APIs allow for lower processing costs.
For those customers who choose it, on-demand liquidity using digital assets eliminates the need
to pre-fund foreign accounts. To enable this, the originating currency is converted to XRP on a domestic digital asset exchange, sent across the XRP Ledger, and then converted back to fiat at an exchange in the destination country – all in an instant
How to Join RippleNet
All participants on RippleNet connect through Ripple’s standardized technology, enabling them to message and settle their transactions with increased speed, transparency and low-cost across RippleNet’s global network of banks, payment providers and other institutions. There are two ways to access RippleNet.
Standard Access
Seamlessly initiate a payment to any entity on RippleNet with a standardized interface through xVia
Easily send payments through RippleNet with standard API connectivity
Reduce reconciliation issues by including rich payment data
Receive guaranteed transaction fees prior to sending a payment
Gain end-to-end transparency into payment status
Remove risk with real-time settlement
Full Access
Process frictionless payments on RippleNet for your own institution or others through xCurrent
Contribute to a single rulebook, enabling a standardized payments network
Easily send and receive payments through RippleNet with standard API connectivity
Send and receive rich information with any payment
Receive and provide guaranteed transaction fees, and provide FX liquidity for payments
Gain end-to-end transparency into payment status
Remove risk with real-time settlement
Access On-demand Liquidity with Digital Assets
Both access levels have the ability to settle transactions instantly through XRP, a digital asset, used in Ripple’s xRapid product. Eliminate pre-funding in foreign accounts and send payments 24/7 using XRP.
About Ripple
Ripple provides one frictionless experience to send money globally using the power of blockchain technology. By joining Ripple’s growing, global network, financial institutions can process their customers’ payments anywhere in the world instantly, reliably and cost-effectively. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets.
Globally recognized venture capital firms and strategic partners invest in Ripple.
Our Customers
-Banks
-Banks join RippleNet to offer a differentiated experience to their customers and capture new revenue opportunities.
-Payment Providers
-Payment providers join RippleNet to accelerate their time to market in new corners of the world.
Others
-Financial software providers, mobile wallets and others leverage RippleNet to enhance their cross-border payment breadth and depth.
Key Support Levels: $0.50, $0.47500, $0.45.
Key Resistance Levels: $0.68, $0.78, $0.89, $1.08
Creating a New Global Payments Infrastructure
The needs of individuals and businesses sending cross-border payments have dramatically evolved. These customers are now demanding real-time, low-cost and fully trackable payments on a global scale. Yet, today’s global payments infrastructure yields an experience that is slow, costly and opaque.
Ripple solves these pain points through RippleNet, a network of banks, payment providers and others. Employing Ripple’s solutions and a standardized ruleset allows for those connected on RippleNet to efficiently send and receive payments around the world.
Benefits of RippleNet
Access- Gain a single point of access into a global network of institutions using standard rules, formats and governance.
Speed- Route payments efficiently and leverage instant settlement to transact in seconds, instead of days.
Certainty- Maximize end-to-end visibility of fees, delivery time, status and customer information through a bidirectional messenger API.
Cost- Reduce total payment costs by minimizing capital requirements and lowering processing costs.
Access a Global Standard
Current global payments systems are outdated, irregular and fragmented. As a result, banks, payment providers and others working with
new partners in foreign markets create bespoke connections that are often cumbersome and costly. RippleNet avoids these issues by creating technical and operational standardization at the global level.
The RippleNet Rulebook provides the operational standardization. The Rulebook is a legal framework about the rights, obligations and business rules
of network participants. RippleNet’s standardized technology infrastructure complements the Rulebook. RippleNet utilizes a single and decentralized infrastructure across the entire network, eliminating the need for custom integration work. Together, the Rulebook and technology infrastructure create global consistency, making it easy for RippleNet customers to transact with
new partners.
Speed Up Payments
In an age where emails can travel around the world in seconds, it’s unacceptable that payments often take days to reach their destination. On RippleNet, payments reach their destination immediately, thanks to pathfinding and instant settlement.
RippleNet’s pathfinding capability ensures that payments are routed from the originator to the beneficiary in the most efficient way possible. Once a route has been selected, payments settle instantly. This is achieved by securing all transaction legs with a single pass-fail outcome, regardless of the number of transacting parties involved, prior to payments being sent.
Increase
Payment Certainty
All too often payments reach their final destination and the amount received is less than expected, which can be devastating for families and businesses relying on that money. The issues
lie with legacy messaging systems that make it difficult to see transaction fees prior to a payment being initiated. RippleNet ensures payment certainty with instant bidirectional messaging through a messenger API.
RippleNet’s messenger API enables financial institutions to exchange information on know
your customer (KYC) requirements, fees, FX rates, payment details and the expected delivery time of funds, providing unprecedented visibility into the total cost of the transaction. As a consequence, all transacting parties are aware of associated costs, and hence, the amount the beneficiary will receive.
Lower Costs
Existing payment networks depend on intensive capital requirements in the form of nostro account funding, a cost that currently ties up trillions of dollars globally. RippleNet makes accessing on-demand liquidity easy, lowering capital costs. Additionally, RippleNet’s standardized connectivity and rich data APIs allow for lower processing costs.
For those customers who choose it, on-demand liquidity using digital assets eliminates the need
to pre-fund foreign accounts. To enable this, the originating currency is converted to XRP on a domestic digital asset exchange, sent across the XRP Ledger, and then converted back to fiat at an exchange in the destination country – all in an instant
How to Join RippleNet
All participants on RippleNet connect through Ripple’s standardized technology, enabling them to message and settle their transactions with increased speed, transparency and low-cost across RippleNet’s global network of banks, payment providers and other institutions. There are two ways to access RippleNet.
Standard Access
Seamlessly initiate a payment to any entity on RippleNet with a standardized interface through xVia
Easily send payments through RippleNet with standard API connectivity
Reduce reconciliation issues by including rich payment data
Receive guaranteed transaction fees prior to sending a payment
Gain end-to-end transparency into payment status
Remove risk with real-time settlement
Full Access
Process frictionless payments on RippleNet for your own institution or others through xCurrent
Contribute to a single rulebook, enabling a standardized payments network
Easily send and receive payments through RippleNet with standard API connectivity
Send and receive rich information with any payment
Receive and provide guaranteed transaction fees, and provide FX liquidity for payments
Gain end-to-end transparency into payment status
Remove risk with real-time settlement
Access On-demand Liquidity with Digital Assets
Both access levels have the ability to settle transactions instantly through XRP, a digital asset, used in Ripple’s xRapid product. Eliminate pre-funding in foreign accounts and send payments 24/7 using XRP.
About Ripple
Ripple provides one frictionless experience to send money globally using the power of blockchain technology. By joining Ripple’s growing, global network, financial institutions can process their customers’ payments anywhere in the world instantly, reliably and cost-effectively. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets.
Globally recognized venture capital firms and strategic partners invest in Ripple.
Our Customers
-Banks
-Banks join RippleNet to offer a differentiated experience to their customers and capture new revenue opportunities.
-Payment Providers
-Payment providers join RippleNet to accelerate their time to market in new corners of the world.
Others
-Financial software providers, mobile wallets and others leverage RippleNet to enhance their cross-border payment breadth and depth.
Key Support Levels: $0.50, $0.47500, $0.45.
Key Resistance Levels: $0.68, $0.78, $0.89, $1.08
