Ripple Lab Develops Mobile App For Spanish Financial Institution
The representatives of Ripple Labs announced that RippleNet was integrated into OnePay FX, an app developed by a Spanish banking group Banco Santander with a capital of $80 billion, CCN reports.
Back in the early spring of this year, Ripple Labs and Santander reported on a joint work on a mobile app for international payments based on the Ripple xCurrent blockchain solution. Testing different ways of the RippleNet application, Santander pointed out a more transparent and clear working scheme of the Ripple blockchain technology, which is not typical for traditional financial instruments.
At the annual Ripple Swell conference, held on October 2, Ed Metzger, the head of innovation at Santander, stated that the xCurrent introduction will allow for more efficient bank customer service.
Metzger also emphasized that the ease of use of the OnePay FX platform is a key task for RippleNet. The chief manager cited the situation that happened with one of the bank’s clients during his stay in Italy. He was asked to pay a fine after parking his car in the wrong place. Not having a credit card with him, the client used the app, which allowed him to make an instant payment “in four or five clicks” and avoid consequences.
Currently, the OnePay FX app is available in the UK, Spain, Brazil, and Poland. Santander plans to expand the use of OnePay FX in several other EU countries, South America, and Asia.
As previously reported, Ripple developers presented the international unified RippleNet payment network, which operates in real time.