Novatti and Ripple FinTech partnership to target Southeast Asia

By Edil Corneille

Melbourne-based Novatti, a digital banking and payments company, announced today it has formed a major new partnership with global payments disrupter, Ripple, to target the rapidly growing South-East Asia region.

Through Ripple’s decentralised global financial network, RippleNet, global payments can be processed instantly. RippleNet provides access to emerging, high-growth capabilities, such as blockchain and the digital asset, XRP, said to be the world’s third largest digital currency, valued at more than USD$27 billion.

Novatti will become a major Ripple partner with its customers gaining access to RippleNet, Ripple’s capabilities, and the hundreds of financial institutions that Ripple already works with including names such as American Express and MoneyGram.

The partnership will initially target cross-border transactions between Australia and the South-East Asia region. Plans are also underway to further expand the partnership to see Novatti process Ripple’s broader cross-border payments into Australia, creating a new potential revenue source for the Australian company’s core payments processing business.

Managing Director of Novatti, Peter Cook enthused, “Novatti is incredibly excited to partner with Ripple, who are rapidly disrupting the global payments industry. This partnership will further increase Novatti’s competitiveness and provide our customers with access to new, innovative payment solutions. In particular, we look forward to working with Ripple to provide our customers with access to their exciting alternative financing solutions, so that our customers can free-up capital to focus on growing their businesses.”

“This partnership will fast-track Novatti’s international expansion, particularly in South-East Asia. In doing so, we aim to deliver increased transaction volumes and revenue growth for Novatti’s core payment processing business,” Cook added.

Novatti is increasingly becoming the partner of choice for tier-one, global players, with partnerships already in place with Visa, Alipay, UnionPay International, Google Pay, Samsung Pay, Marqeta, and Decta.