Highlights
- Riskified helps Novatti improve its strength.
- Utilizing Ripple’s ODL technology, Novatti
The Paypers reports that Novatti, a RippleNet participant, has partnered with Riskified to utilize the latter’s technology in order to offer customers secure financial transactions.
To put it another way, this will make Novatti the only payment processor in the Asia Pacific region capable of fully protecting businesses from fraudulent chargebacks.
Novatti becomes stronger thanks to Riskified
Novatti’s partnership with Riskified will reduce risks and operational expenses for the cross-border payments it conducts via digital wallets, allowing it to better leverage its global client base and facilitate its global expansion.
Riskified’s product is used by nearly half a billion customers in 180 different countries, reducing the likelihood of fraud and increasing net revenues for online retailers. As a result, the solution it provides safeguards companies from fraudulent chargebacks.
Novatti can now provide the same security to its many customers. Riskified also entered into a comparable partnership with a third company, Aurus, earlier this year.
Ripple Shovels 100 Million XRP as Investors Start Frantically Grabbing XRP-Oriented Products
Novatti taps Ripple’s ODL technology
In 2020, Novatti entered into a partnership with Ripple, becoming a member of RippleNet and thus beginning to make use of Ripple’s On-Demand Liquidity (ODL) technology. The latter disposes of the need for prefunded accounts in the context of international money transfers. It also makes monetary transactions fast and cheap.
More than 300 businesses and 55 national central banks use RippleNet.
In late 2020, Novatti and Ripple signed a partnership agreement, but the news wasn’t made public until early 2021. Initially, it served as a conduit for money transfers between Australia and the Philippines.
Leave a Reply