A global initiative to remove hurdles for making international payments for critical workers during the pandemic
About
Applicant name: Ripple
Innovation Name: Adoption Marketing Program for Help – COVID 19
Innovation Type: Campaign
Mission: During the COVID-19 pandemic, Ripple has partnered with its customers around the globe to help remove hurdles to making international payments for critical workers.
Innovation Description: Ripple has partnered with its customers to develop an advertizing campaign which targets critical workers around the world who have the need to send money abroad during the pandemic. Many physical branches for money transfers around the world are closed. By co-marketing our customers’ digital service offerings and waiving fees for remittances, we were able to minimize two hurdles to making payments for those in need during a time of crisis.
Innovation Inspiration: Ripple wanted to help consumers overcome hurdles to making payments during the pandemic. Many people today face salary cuts or have to look for alternatives to cash-only remittance services, which were closed in many parts of the world.
In addition, money transfer companies were affected bei COVID-19 and Ripple saw an opportunity to act and help its customers. People still have the need to send money abroad to support their loved ones, especially during peaks of the pandemic.
Who benefits from the innovation most? People in regions of the world which were hit the hardest by the pandemic and where people still had the need to send money abroad.
Ripple’s business customers, which could take a proactive and market-leading position during a time of crisis.
What are you most proud of about your innovation? Making cross-border payments possible for many people during a time of crisis, when people needed to support their loved ones most and companies were struggling, was inspiring for this project.
Status of Innovation: In-market
Innovation Active Since: 04/20/2020
Applicant Type: Private Company
Headquarter City: San Francisco
Headquarter Country: United States
Year Founded: 2012
Main Category
Main Category Choice: Remittances For Social Impact
Why do you think you should win this category?:
We helped raise awareness for digital remittances technologies, when many physical branches had to close and remove hurdles for making cross border payments.
We did our best to help our business customers during a time of crisis, when the World Bank predicted a global decline in the remittances industry.
Our team has been very thankful that we could act and help people and our customers.
Secondary Category
Secondary Category Choice: Innovation in Time of Crisis
Why do you think you should win this category?
Ripple’s mission is to enable people to send money to all corners of the world, anytime. We believe and hope that this initiative helped people get access to a financial service during times of crisis.
We also wanted to help our business customers during a challenging time for our industry, when the World Bank predicts a significant global decline for the remittances industry.
Team Members
Full Name: Mario Zrno
Role: Customer Marketing Lead
Linkedin: https://www.linkedin.com/in/
Supporting Links
Campaign mention in US Forbes article: https://www.forbes.com/sites/
Campaign mention in The Philippines BWO article: https://www.bworldonline.com/
Campaign mention in the Thailand Prachachat article: https://www.prachachat.net/
Entry Representative
Full Name: Mario Zrno
Role: Customer Marketing Lead
