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Santander's Ripple-backed One Pay app extends into new corridor
Ripple’s well-publicised partner, Santander, recently continued its European expansion. Its mobile app, One Pay FX is now able to send payments between UK and Poland in a matter of seconds.
Recognised management consultant and Head of Payments of Accenture, Jeremy Light, congratulated the achievement by tweeting:
The app has been previously cherished by blockchain enthusiasts as it is allowing Santander clients to complete instant international payments using multiple FX corridors. The latest version (1.3.1) was recently released in the UK on July 11, including a payment corridor to send Zloty (PLN).
Ripple's xCurrent product is behind Santander’s milestone. The enterprise software solution is allowing the banking system to send cross-border payments faster than many traditional methods, as well as ensuring proper tracking of every single transaction by the help of the Ripple Net Committee.
Marcus Treacher, Global Head of Strategic Accounts at Ripple, also announced the opening of the corridor in his latest tweet:
Sociedad Anonima Banco Santander S.A is one of the leading commercial banks in the world, with its headquarters in Madrid, Spain. It maintains a presence in the major financial markets globally, managing over €1.449 Bn and producing over €48.424 Bn in revenue.
In April, Ana Botín, Executive Chairman of the Spanish bank affirmed that the institution was aiming to cover over 50% of all its FX payments by using xCurrent on the One Pay app. Until now, the app allows UK clients to sent up to £10,000 daily to the US and other main countries in the Eurozone. It is clear that the app has been a resounding success, as it is currently expanding to several territories.
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