Ripple Adoption Expands As Banking Giant Santander Launches New Payment Corridor

Spanish banking giant Santander is adding a new payment corridor to One Pay FX, the company’s Ripple-powered digital banking app.

The app now supports payments between the UK and Poland. Ripple’s senior vice president of customer success Marcus Treacher touted the new addition, which allows Santander customers to move as much as 10,000 euro per day to and from the two countries with zero transaction fees.

Marcus Treacher@marcus_treacher

Powered by Ripple & great to see this important payment corridor go live https://twitter.com/jeremylight3/status/1150252980530077702 

Jeremy Light@JeremyLight3

Santander UK’s One Pay FX app now supports payments to Poland from U.K. – no fees, best ex rate, smooth payment experience #Santander

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495 people are talking about this

One Pay FX uses Ripple’s payments messaging system xCurrent. Santander launched the app on iOS last year, and says it now lets its customers send money to 19 countries, including the US.

Santander executive chair Ana Botín told the Financial Times that by January of this year, Ripple’s technology was already powering half of Santander Group’s FX payments.

“With this new initiative that is already in place, we’re actually covering 50% of all the FX payments that the Santander Group does annually. And it works really well, because the rails that we’re using – which, as you say, we’ve collaborated with Ripple – we’ve been testing those for two years, actually with our own employees.

And it works. It’s safe. It’s fully compliant, and obviously we’ve made sure we comply with all local regulations. So you’re in safe hands.”

Back in February, Santander’s UK help desk mistakenly said One Pay FX uses XRP to boost cross-border payments. Sandander soon apologized for the confusion and clarified its use of Ripple’s xCurrent.

In a recent interview, Ripple global head of banking Marjan Delatinne reveals that a total of 20 companies are now actively using the company’s XRP-powered payment solution xRapid.

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About Howard Mahere

I'm a Bitcoin/Cryptocurrency enthusiast ; motivator; author of "AN IMMIGRANT WITH A PLAN" and a John C Maxwell certified speaker . Happily married to Emely and a father to one son and two daughters. My greatest joy comes from inspiring others to maximize their potential. I feel fulfilled when I bring hope to the hopeless and encouragement to the discouraged. The truth is, we each have a past, and it's either our prison, our excuse OR our springboard to a brighter future. The choice is yours but as for me, I made up my mind a long time ago to use my dysfunctional tough childhood as a stepping stone . The late Zig Ziglar used to say "It's not what happens to you that determines how far you will go in life, it is how you handle what happens to you." This is my story and I am sticking to it!
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