Santander Adds 19 Available Regions For App In Collaboration With Ripple
Santander Adds 19 Available Regions For App In Collaboration With Ripple
July 10, 2020
Santander Adds 19 Available Regions For App In Collaboration With Ripple
Santander Adds 19 Available Regions For App In Collaboration With Ripple
July 10, 2020

Banco Santander, the mainstream banking giant, has added 19 available regions for its One Pay FX international payments app built in collaboration with Ripple

On July 9, it has been reported in a statement posted by Ripple that Santander constructed One Pay FX as a borderless blockchain-based payment channel, in the form of an app.

However, building the app alongside Ripple, Santander launched the app in 2018. The statement said that formerly only available in the United Kingdom, Spain, Poland, and Brazil, One Pay FX now enables users from 19 additional regions, as the US and Chile sit among others on the list of added countries.

Ed Metzger, the CTO of One Pay FX, said:

“Customers told us that the international payments process could be better so we partnered with Ripple to explore how blockchain could make transactions faster, cheaper and more transparent.”

Likewise, Metzger described feedback from customers by noting difficulties with transaction exchange rate clarity and timing confusion.

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He added:

“Ripple helps us directly address the issues raised by our customers […] Whether they are putting down a deposit on a holiday rental or paying a foreign supplier, they see exactly how much will arrive when they’re making the payment and have certainty about when it will get there.” 

Thus, Metzger noted the app, with its Ripple tech, improves other areas, such as global transfer times.

Santander’s search for an innovative solution never focused on a specific technology. Instead, the bank looked for any way to solve their customer’s specific pain points, which is why Ripple proved to be an ideal partner.

Source: Cointelegraph | Image: Bambora


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.