Global payments processing company RocketFuel, Inc. has entered into a strategic partnership with blockchain solutions provider Ripple. This move is aimed at incorporating Ripple’s payment technology to modernize RocketFuel’s transactional infrastructure, particularly for fiat currency transfers to global merchants and partners.
The platform provided by RocketFuel delivers a one-click checkout system that caters to a range of payment methods, including prominent cryptocurrencies like Bitcoin and conventional bank transfers. RocketFuel places a high priority on the security and privacy of its users, ensuring that its advanced technology not only facilitates a frictionless user experience but also provides robust protection against the risk of data breaches.
Customers utilizing RocketFuel can bypass the cumbersome checkout processes of old, taking advantage of streamlined impulse buying opportunities. Meanwhile, merchants stand to gain from the opening of new sales channels and the potential for increased revenue streams, thanks to RocketFuel’s comprehensive suite of services encompassing pay-ins, payouts, B2B cross-border payments, and invoicing solutions.
According to RocketFuel’s press release, RocketFuel CEO Peter Jensen’ is participating in Ripple’s Swell conference in Dubai (November 8-9, 2023). Jensen is expected to discuss the evolving dynamics of the payments industry, the increasing relevance of cryptocurrencies, and the potential of Ripple’s technology to alter the current payment processes.
RocketFuel’s suite, which will feature Ripple’s technology, includes “Rocketfuel Pay-In Commerce,” a tool that facilitates crypto and ACH payments for merchants both online and at physical locations. “Rocketfuel Mass Pay-Out” is designed to enable merchants to execute bulk payments globally, and “Rocketfuel Cross border B2B” allows for large-scale cross-border transactions utilizing blockchain and stablecoin technologies.
The RocketFuel CEO had this to say:
“Existing rails and technologies used to transfer money cross borders are based on old, outdated technologies and processes and are becoming increasingly problematic for businesses. Modern blockchain and crypto currency technologies provide new ways to dramatically improve this. By leveraging the power of Ripple’s cutting-edge payment solutions, we are able to revolutionize the way businesses transact by creating better, faster, and cheaper payment experiences for our merchants and partners worldwide.”
Brendan Berry, Head of Payments Product at Ripple, noted the significance of such partnerships in enabling businesses worldwide to benefit from the efficiencies of blockchain-powered payment solutions. The collaboration is indicative of a broader trend towards the integration of blockchain technology in traditional financial operations, aiming to redefine how value is transferred globally.