Ripple ODL Joins Amazon’s Payment Service Provider Program
Inter & Co., a Ripple ODL Client, has announced a partnership with Amazon’s PSP program. Ripple’s ODL service has been seeing massive adoption globally.
Amazon’s PSP program has partnered with Inter & Co., a Ripple On-Demand Liquidity (ODL) client. Globally, a lot of people are using Ripple’s ODL service. Inter & Co. (previously Banco Inter), the company behind the well-known Brazilian financial services app Inter and a user of Ripple’s On-Demand Liquidity services, recently announced that it has enrolled in Amazon’s Payment Service Provider (PSP) program.
A press release from the digital bank stated that with the partnership, Inter’s Brazilian clients who are sellers with Amazon US will now be able to receive and send cross-border payments directly to inter-accounts.
Inter is now one of the 28 suppliers globally that have enrolled with the Amazon PSP program as a result of the agreement. The initiative was launched by Amazon in 2021 as part of its continued efforts to be the most trusted online marketplace for consumers and businesses worldwide, shielding them against fraud and abuse.
Aloisio Matos, head of cross-border at Inter, commented on the agreement and emphasized how significant it is for the organization to be a partner with Amazon US. Additionally, he mentioned that in order to accomplish the accomplishment, Inter had to adopt important technical and security advancements that will “provide advantages and peace of mind to users.”
Following the acquisition of USEND by Banco Inter, a customer of Ripple ODL services since 2019, and a subsequent reorganization to become the Nasdaq-listed Inter & Co., the business made a notable expansion to the United States early this year. In terms of banking, investments, credit, insurance, retail, and remittance-related services, the Inter app provides a full variety of options.
In the meantime, Ripple’s ODL service has also been observing rapid growth. With the addition of additional markets including Africa, Argentina, Belgium, Israel, Australia, Brazil, Singapore, the United Arab Emirates, and the United Kingdom, among other tier-one payment gateways, Ripple’s ODL services now cover the whole world, according to an update made earlier this month.
The update also said that the ODL service now uses machine learning to optimize user wallets and guarantee that liquidity is always available.