Friday, September 18, 2020
No menu items!
  • News
  • XRP News
  • Contact Us
More

    Banking Giant Santander Extends the Use of Ripple Payments App to Several Other Regions

    Must Read

    Galaxy Digital CEO Mike Novogratz Reveals Percentage of BTC and ETH in His Portfolio

    The CEO of Galaxy Digital, Michael Novogratz, has revealed the percentage of Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies...

    Ripple Enhances Its Partnership with Bill & Melinda Gates Foundation

    As a report has it, Ripple, the US-based cross-border payment firm has become a sponsor member of Mojaloop Foundation,...

    VeChain Joins China Animal Health and Food Safety Alliance as Public Blockchain Technology Provider

    VeChain, the leading enterprise blockchain platform, has officially become a council member of China Animal Health and Food Safety...
    Tobi Loba
    Tobi Loba
    Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to fulfill her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.




    The giant retail bank, Banko Santander, has expanded the reach of the Ripple payment app to other available regions to increase its usability. According to the retail bank, there is still a ground plan to expand the use of the payment app further.

    Back in 2018, Santander released an international payment solution app named One Pay FX. The service of this payment app was limited to the United Kingdom, Spain, Poland, and Brazil.

    Going by the information from Ana Botín, the bank’s executive chairman, half of their annual cross border transactions will now by effected via the Ripple payment app, which is now available to leverage in the United States.

    According to the CTO of One Pay FX, Ed Metzger, customers are getting used to the new service, adding that Ripple, the cross-border payment firm, helps in enhancing their speed of performance.

    He also said that both speed and transparency have so far improved the bank’s customer behavior. The firm also looks forward to seeing further improvements.

    Ed Metzger said:

    “Ripple helps us address some of those pain points that we have seen in the past with some of our customers, and that’s around being able to generate that certainty and that transparency along with the transaction so that we can show that to our customers. When they’re making their payment, they can see how much is going to arrive, and they’ve got that certainty about the timing as well.” 

     “In the territories where we’ve launched it, we’re seeing customers do more business with us, so we see more transactions from the same set of customers, and that’s a very positive reinforcement of the service. We’ve also seen some evidence of customers changing their behavior. So as they understand that the service is faster, and as they understand that service gives them that certainty of how much is going to arrive there, we’ve seen some evidence of customers using it in new ways, a little bit more akin to a standard domestic payment, and that customer behavior again is very positive for us.”

    Ed Metzger further stressed the benefits derived by Santander from the relationship with RippleNet, stating that the bank hopes to expand One Pay FX to other regions, which will enlarge its customer base.




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    Galaxy Digital CEO Mike Novogratz Reveals Percentage of BTC and ETH in His Portfolio

    The CEO of Galaxy Digital, Michael Novogratz, has revealed the percentage of Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies...

    Ripple Enhances Its Partnership with Bill & Melinda Gates Foundation

    As a report has it, Ripple, the US-based cross-border payment firm has become a sponsor member of Mojaloop Foundation, which implies that the payment...

    VeChain Joins China Animal Health and Food Safety Alliance as Public Blockchain Technology Provider

    VeChain, the leading enterprise blockchain platform, has officially become a council member of China Animal Health and Food Safety Alliance (CAFA), to provide blockchain...

    XMR Workgroup to IRS: Focus On Studying Monero Instead of Offering $625,000 to Break It

    A Monero workgroup has recently urged the United States Internal Revenue Service (IRS) to find a better means of spending taxpayers’ funds than offering...

    Cardano Once Again Outranks Ethereum as the Blockchain with Highest Development Activity on Github

    Cardano (ADA), a third-generation blockchain project, has once again outranked Ethereum to become the blockchain with the highest development activity on Github, an American...

    More Articles Like This