International service TransferGo launched the channel remittances to India using technology Ripple (XRP) to carry out transactions in real time.
Service available throughout Europe that allows you to do quick transfers using your Bank cards in 47 countries around the world. The company claims in its official statement, the system based on Ripple supersedes “the existing slow system, among which is SWIFT, the handling operation for 2-3 days.” TransferGo did not disclose what kind of product on the basis of the Ripple Protocol being used.
Testing of the transfer system on the basis of Ripple technologies the company will begin with the payment corridor between Europe and India. This choice is not accidental: a year ago, Ripple has opened an office in the Indian capital, and this year reported a 50% local coverage of the cryptocurrency market.
The company can’t seem to stay on only one version of the application and informs that it will develop such additional products and services.
“Using the revolutionary blockchain technology from Ripple, we can establish communication with our banking partners in India in real time. And our customers can send money to their families and friends and to make certain international transfers in the shortest possible time”, — said the founder and head of TransferGo, Daumantas Dobilinskas (Daumantas Dvilinskas).
For faster service transfers in India customers have to pay. The company also offers an alternative with zero Commission, but then processing takes approximately three working days.
“TransferGo is a good example of a prospective payment system, which is not afraid to apply new technologies to enable real-time money transfers abroad. The company made a big step forward,” — said Vice-President of Department for work with clients Ripple tricher Marcus (Marcus Treacher).
Recall that in August Ripple confirmed that the testing of the system for processing cross-border payments xRapid participate financial company American Express and Western Union.