Ripple Launches Payburner – XRP Payments And E-Commerce Platform
Ripple continues to make headlines due to all kinds of achievements and bold plans.
Ripple has been working hard to boost the whole XRP ecosystem and also to push the mainstream adoption of the digital asset XRP.
Ripple has been working really hard to replace SWIFT, the traditional payments system that has been used by banks and financial institutions for decades now, but became flawed along the way.
Now, it’s been just revealed that the San Francisco-based firm marks another important achievement.
Beta version of Payburner is rolling out
Ripple’s director of product is rolling out the beta version of Payburner, an XRP-based e-commerce payment platform.
Craig DeWitt explained on Twitter that Payburner is crated to make it really easy to send and receive instant payments globally.
This started as his side project, but managed to eventually become something more. It functions as a non-custodial wallet.
DeWitt said that the responsibility of safely storing the funds falls on the users, and this is due to the fact that Payburner won’t have access to their passwords.
You can read all the available details about this project in the original notes.
He also pointed out the fact that the integration of Payburner with WordPress makes it available to approximately 455,000,000 websites.
Keeping the business sustainable
DeWitt said that they are planning to charge just a minimal fee in order to keep the business sustainable.
“We expect to make money from the one-click merchant payout experience by requesting payments from merchants at 1% of their received XRP e-commerce purchases. Peer to peer payments and peer to peer requests are not charged any fee,” he said.
He continued and explained that “Payburner does not have the ability to withdraw funds from any account, and we are not in the middle of any transactions, so we send requests to merchants for fee collection.”
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.