Ripple recently announced its partnership with Flutterwave, a payment services company which focuses on building payments infrastructure to connect Africa with the global economy. Flutterwave has been helping various businesses and banks provide a secure payment experience for clients based in Africa.
Integrating with the Ripple Blockchain Network has enabled Flutterwave to achieve their mission to help African businesses.
Ripple is a global leader in the blockchain industry, and with the help of xCurrent, xVia, and xRapid, they have a network of over one hundred customers across the world.
One of the reasons that make blockchain an attractive technology to use for payments is its ability to show the transaction history of each account. Furthermore, once the blockchain receives a transaction record from a party, the transaction will be publicly recorded in the ledgers of both parties ledger. These transactions cannot be reversed or deleted, which makes the whole process transparent.
The new partnership has made Flutterwave the only technology platform in Africa to process payments across Africa using the Ripple network. This step will enable payment providers and banks on the Ripple network to seamlessly receive payments from customers around the world with the help of blockchain technology.
In order to integrate Flutterwave with RippleNet, certain new configurations were implemented, including the installation of the xCurrent instance, which is connected to Ripple’s private Yum repository. With the help of the script provided by Ripple, TLS [Transport Layer Security] certificates and keys are created for the xCurrent instance.
The xCurrent package also provided schema files which will populate Flutterwave’s databases with the necessary tables. A new messenger layer has been created and configured with Flutterwave. This will create a platform for exchanging information with other transacting parties on the Ripple Network.
Flutterwave’s InterLedgerProtocol [ILP] has resulted in the creation of all-transacting currency ledgers, where each ledger is designed to support only one type of currency.
As a result, this partnership has leveraged Flutterwave’s Core API disbursement engine and Ripple’s xCurrent platforms, making it easier for global and local businesses to receive and terminate P2P, B2B, and B2C payments into Africa.