The payment application Banco Santander on the basis of xCurrent, One Pay FX expands service. The service will be available throughout the Eurozone and in the United States. This was during a speech at the conference Swell 2018, said the head of the innovation division of the Bank of ed Metzger (Ed Metzger).
“We believe that the financial services sector is increasingly using open platforms, allowing firms and companies to unite to provide its customers with quality service, and this is a key aspect of our work in One Pay FX”.
Talking about Ripple, Metzger added that the main advantage of FX is One Pay rate: half a year on average has reduced the processing time for interbank payments from 3-5 days to 24 hours. He also illustrated his words with a practical example:
“One of our clients was on vacation in Italy and, unfortunately, parked in the wrong place. He presented a penalty, but it did not have a Bank card. Using the app, he could pay the fine immediately, and his car is not towed for Parking expectations. Now we need only four or five clicks to achieve the same result that previously could take too much time.”
According to Metzger, the technology of Ripple allowed Santander to provide an adequate level of transparency, security and assurance for its customers:
“We want to tell the world about the Ripple and how their technology has helped to improve the lives of our customers.”
Run One Pay FX took place in April of this year in Spain, UK, Brazil and Poland. In addition to Santander, the payment solution develops Ripple, another major Bank kongomerat — SBI Holdings. Yesterday it became available the same payment application SBI — MoneyTap. At the moment they can only be used by the customers of the three Japanese banks.