Altcoins News
By James Thorp
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Ripple recognizes that small and medium-sized enterprises (SMEs) are a growing underserved market in cross-border payments.
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In the emerging markets, SMEs are considered to provide for high-growth in revenue opportunity.
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The Ripple SME White Paper states that SMEs account for nearly 60% of employment and 40% of national income.
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New payment technologies make it possible for SMEs to source talent from and supplies from abroad, thus expanding their services and products to foreign markets.
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The SME B2B markets out pace (Consumer to Business) C2B, B2C (Business to Consumer, including wages and payouts) and C2C (Consumer 2 Consumer) remittances.
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Thus, financial institutions have a lot to tap in to the SME B2B cross-border payments market.
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Reportedly, most of the revenue opportunities per Ripple is found in Asia Pacific and Eastern Europe region.
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Ripple are focusing on covering up for the low value cross-border flows. The needs of the SMEs are greatly unmet by traditional systems and they are becoming increasingly…
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Despite the growing competition, cross border payments of all types are becoming attractive due to their low costs.
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Banks and Fintechs are showing their willingness to collaborate to bring in new solutions to the market to work beyond slow and expensive competition.
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Fintechs which have agile development capabilities and fresh perspectives to deal with customer expectations are willing to explore the quick realization of benefits for all the…
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