Cryptocurrency

Ripple partners Santander extends Zahlungsapp with XRP to 19 countries

Despite the lull in the XRP rate, the company behind the native crypto-currency, Ripple is able to celebrate, in the last 2 years of massive success in your partnerships with various financial institutions. One of these high-profile Partner, Banco Santander of Spain. The multinational Bank by market capitalisation, the largest Bank in the Eurozone, worldwide, it is one of the 16 largest financial houses and has a total of around 140 million customers.

With the help of Ripple, the Santander Bank has already brought to 2018, the Zahlungsapp “One Pay FX” at the Start, with the help of your customers international payments faster, more transparent and more cost-effective can perform. The App was initially only for customers in the UK, Spain, Poland and Brazil available, expanding Santander in the application due to the great success together with Ripple to other countries.

Ripples and Santander’s App is coming in the USA

The Service of the Zahlungsapp “One Pay FX” the big Bank Santander, in collaboration with Ripple is now being extended, in addition to the above-mentioned countries on a total of 19 countries. New additions include the USA, Chile and Portugal to come.

This expansion comes as a response to the success of the App. Ed butcher, the CTO of Santander, says:

First of all, we see that individual clients do more international payments made via the App.
Previously, you have used maybe a special transfer service, but now they come back to us again. In addition, the customer will treat an international payment now as a domestic transfer. You have so much confidence in the cost-effective “same day”process, that it is no big deal to transfer money abroad.

The cooperation with the Ripple has to offer Santander only helped their own customers with a better Service, but also simplifies your relationships with other financial houses:

The membership of the RippleNet has helped us sustainable and scalable relationships to other financial institutions around the world.

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Increased demand and focus to customer requirements

Banco Santander is considered to be one of the most innovative companies in their industry, and 2014 has introduced an innovation Fund by the name of “InnoVentures” you are strong in a number of digital technologies have invested.

According to Ed butcher cooperation with the Ripple came about because the Bank has noticed an increased demand for better international payments from your customers:

Customers told us that they never knew, how much money would go to your receiver, because never was clear how the exchange rate would be or what fees would be charged. […] So we entered into a partnership with Ripple, in order to examine how the Blockchain transactions could be faster, cheaper and more transparent.

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The comments in this article do not represent any trading recommendations or investment advice.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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