Santander Plans To Expand Use Of Ripple Payments Platform
Ripple has been seeing a lot of success this year despite the global crisis in the middle of which we are due to the pandemic.
The firm is making big efforts to boost the XRP ecosystem and also to push the mass adoption for the digital asset.
Santander plans to expand
It’s been revealed that the banking giant Santander operated its Ripple payments platform across 19 countries, and it seems that it will be expanding even more.
They launched their international payment solution OnePay FX back in 2018 in the UK, Spain, Brazil, and Poland.
The bank’s exec, Ana Botin said that half of their annual international transfers can be handled by the Ripple app – this is also operating in the US.
According to the online publication the Daily Hodl, Ed Metzger, chief technology officer for One Pay FX, said that customers have felt comfortable using the new service.
“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 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,” he said.
Customer behavior has been changing thanks to Ripple
He also explained that Ripple helps with speed as well and highlighted that some transactions are taking place instantly which is a “great achievement” for an international payment.
The CTO noted that this mix of speed and transparency has been changing customer behavior.
He said the following about customers: “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.”
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.