Ripple has announced that Xendpay, a rather unique UK-based international money transfer firm, has joined RippleNet in order to open up "new corridors" to Bangladesh, Malaysia, Philippines, Vietnam, and Indonesia, as well as to enable "real-time payment rails to Thailand."
According to Ripple's blog post, not only does Xendpay offer "some of the most competitive rates on cross-border money transfers" but also "gives customers the option to waive fees with its Pay What You Want service." This feature means that you can "change the transfer fee to what you think is fair when making your money transfer."
Bhavin Vaghela, Xendpay’s Head of Product Innovation, says:
Most of our customers are migrants who are sending money back home. This money is vital to support their families: to pay rent or mortgage, electricity bills, medical fees and education costs. Being an online service allows us to reduce our overheads and pass the savings on to these clients, for whom every penny counts.