Leading banking giant Santander has added 19 available regions for its One Pay FX international payments application inbuilt with its recent collaboration with blockchain and Ripple [XRP].
Thinking about the future entity, Santander constructed One Pay FX as a borderless blockchain-based payment channel, within the form of an application, consistent with a press release revealed by Ripple on 9th July. Building the application alongside Ripple, Santander launched the application earlier in 2018.
Formerly only available within the U.K., Spain, Poland and Brazil, One Pay FX now permit its users from 19 additional regions, the statement added. The United States and Chile sit among others on the list of added countries.
Exploring The Blockchain Technology With Ripple
While explaining further Ed Metzger, CTO of One Pay FX added:
“Customers told us that the international payments process might be better so we collaborated with Ripple to explore how blockchain could make transactions faster, cheaper and more transparent.”
Metzger described feedback from customers noting difficulties with transaction rate of exchange clarity as well as the existing timing confusions.
“Ripple assists us directly to address the problems raised by our users […] whether or not they are putting down a deposit on a holiday rental or paying a foreign supplier, they see exactly what proportion will arrive when they’re making the payment and have certainty about when it’ll get there.”
Moreover, Metzger added the application, with its Ripple tech, improves other areas, like global transfer times.