A group of Japanese banks have embarked on financial transactions through the app MoneyTap created by a team of Ripple. In the development of this mobile platform was also attended by experts of Japanese financial services company SBI Holdings.

On the development of the product was announced in March of this year, the official release took place on 3 October. Now Japanese users will be able to Transact at any time of the day, according to team Ripple on Twitter.

For payment customers of Japanese banks involved in the project should grant the application access to their accounts. Transactions can be verified via scanning a QR code. App MoneyTap completely free and users do not pay the fee for the transfer of funds.

MoneyTap operates on the basis of payment technologies xCurrent, which is not applicable token XRP. To install the product will be available for owners of smartphones based on Android and iOS. For additional security, the app supports scanning the fingerprint.

Earlier it was reported that the Ripple team is planning to expedite the work of the banking sector with its flagship product xRapid. This system will also make transactions safer.