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Santander to launch blockchain Payment product

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https://alnavio.com/noticia/12711/economia/santander-lanzara-la-primera-plataforma-blockchain-de-pagos-internacionales.html

“Con blockchain vamos a conseguir una estructura de pagos internacionales con costes mucho menores que otros bancos. Lo vamos a activar en los próximos meses”, dijo la presidenta del grupo, Ana Patricia Botín, este miércoles en la presentación de resultados. También adelantó un posible nombre para la nueva plataforma: Santander Pay"

Traslation :With blockchain we are going to get an international payment structure with much lower costs than other banks. We are going to activate it in the coming months, "said the group's president, Ana Patricia Botín, this Wednesday in the presentation of results. He also advanced a possible name for the new platform: Santander Pay.

Después de tres años insistiendo en la transformación, Botín cumple su palabra y anuncia el lanzamiento de Santander Pay. “No es definitivo, pero creo que lo vamos a llamar así. La plataforma ofrecerá una experiencia de pago completa, una cartera digital, pagos P2P [peer to peer, entre pares] y pagos internacionales”.

Translation: After three years insisting on the transformation, Botín keeps his word and announces the launch of Santander Pay. "It's not definitive, but I think we're going to call it that. The platform will offer a complete payment experience, a digital portfolio, P2P [peer to peer, peer-to-peer] payments and international payments. "

P.S As you know... Santander is a Ripple early Adopter

 

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Can our Spanish Zerpers fellows help with the traslation?

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Translation: "With blockchain we are going to get an international payment structure with much lower costs than other banks. We are going to activate it in the coming months, "said the group's president, Ana Patricia Botín, this Wednesday in the presentation of results.

After three years insisting on the transformation, Botín keeps his word and announces the launch of Santander Pay. "It's not definitive, but I think we're going to call it that. The platform will offer a complete payment experience, a digital portfolio, P2P [peer to peer, peer-to-peer] payments and international payments. "

Edited by RippleDrifter

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2 minutes ago, Coin_Hound said:

I hope so, but unless they announce they are using Ripple it might be hard to confirm. 

someone eagle eye person on this forum is likely to establish rather quickly I would have thought

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It would make sense for them to use RIPPLE. They were early investors and I remember their head of innovation talking at Swell... the foundations are there. If this turns out to be good as well as the JPM rumours then christmas has come again. lol.

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here is something from 2015 linking Ripple to a mobile app

 

https://www.santander.com/csgs/Satellite?appID=santander.wc.CFWCSancomQP01&canal=CSCORP&cid=1278712674240&empr=CFWCSancomQP01&leng=en_GB&pagename=CFWCSancomQP01%2FGSNoticia%2FCFQP01_GSNoticiaDetalleMultimedia_PT18

 

Santander becomes first UK bank to introduce blockchain technology for international payments with the launch of a new app

Santander is the first UK bank to use Blockchain technology to transfer live international payments

Payments of between £10 and £10,000 can be made, around the clock at any time of the day

The long wait for international payments to be processed is over, funds will appear in the recipients account the next working day

27 de mayo de 2015. Santander is pleased to be the first UK bank to introduce Blockchain technology which facilitates international payments, through a new app. It is currently being rolled out as a staff pilot, with the intention to expand the technology at a later date.

Once the app is downloaded, users need to complete their profile details and can then start to make payments. It connects to Apple Pay, where users can confirm payments securely using Touch ID. It lets users transfer between £10 and £10,000 and payments can be made from GBP to EUR and USD. Currently, payments made in EUR can be sent to 21 countries and US Dollar payments to the USA only.

The Blockchain technology underpinning the app is provided by Ripple, a company which Santander Innoventures has also invested in. Working with Ripple builds on Santander’s philosophy of collaborating with the most innovative companies to consistently provide better services to customers.

Sigga Sigurdardottir, Head of Customer and Innovation at Santander said: “The need for finance has evolved from providing a physical Pound in your pocket or card in your purse, where you pay at a till, to being seamlessly integrated into a new, always on, connected lifestyle.

“At Santander we work hard to ensure our banking is simple, personal and fair and believe new Blockchain technology will play a transformational role in the way we achieve our goals and better serve our customers, adding value by creating more choice and convenience.”

Chris Larsen, Chief Executive Officer at Ripple said: “Ripple is redefining the way that value moves around the world, and today we’re already enabling real-time, affordable international settlement between banks who have adopted our solutions.

“As an early adopter and pioneer in the banking industry, Santander is the first bank in the world to transfer real funds externally. In doing so, they are creating a new, exemplary standard of service.”

Blockchain is better known as the network that enables virtual currencies to pass through from sender to receiver. Its technology can be used in many other was that can have a game changing impact to business models and industries. For banks, it can enable the transfer of data and value in a more accurate and faster way. All transactions are recorded uniquely that also helps to improve fraud protection.

In line with all new technology launched by Santander, security is of paramount importance. Security and regulatory compliance is central to all activity undertaken at Santander and this app has undergone the same rigorous testing all new technology goes through ahead of roll out.

Edited by dtones5503

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3 minutes ago, GabeIrv99 said:

It would make sense for them to use RIPPLE. They were early investors and I remember their head of innovation talking at Swell... the foundations are there. If this turns out to be good as well as the JPM rumours then christmas has come again. lol.

JPM rumors have been put to bed, dude. Search the board

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3 minutes ago, GabeIrv99 said:

It would make sense for them to use RIPPLE. They were early investors and I remember their head of innovation talking at Swell... the foundations are there. If this turns out to be good as well as the JPM rumours then christmas has come again. lol.

I am not getting excited until Santander announces they are using Ripple technologies.

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Quote

 

After three years insisting on transformation, Botín keeps his word and announces the launch of Santander Pay. "It's not definitive, but I think we're going to call it that. The platform will offer a complete payment experience, a digital portfolio, peer-to-peer (P2P) payments and international payments.

This new tool will be based on blockchain, a technology that articulates all the data present in different databases. Sealed blocks sealed by cryptography, secret and sealed, that allow to increase the speed of the transactions, in this case banking, and that these are developed in a safe way. The blockchain also allows the development of artificial intelligence.

We will launch the[Santander Pay] platform in countries such as Spain, UK, Brazil and Poland. Developing this infrastructure will allow us to be at the forefront of offering attractive international payments to customers,"Botín said.


 

Could be Ripple, but no mention. 

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Just now, Coinzee said:

I am not getting excited until Santander announces they are using Ripple technologies.

100% agree - speculation is just that - and ripple gets its fair share of good and terrible speculation - so lets just see

@JoelKatz... give Brad G a nudge to update his twitter :P

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this article from today confirms it is ripple technology, but it misspells it as "rippel"

"the app is based in rippel nods"

 

La aplicación se basa en nódulos rippel, una tecnología que le está plantando cara a bitcoin, y que permitirá a los clientes del banco realizar transferencias internacionales entre los diferentes países en los que estará operativo: Reino Unido, España, Brasil y Polonia.

 

http://www.lavanguardia.com/economia/20180131/44428215610/banco-santander-plataforma-pago-movil-blockchain.html

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also this is an app that's been developing for 2 years or more... look at this article from ripple.com. It seems it was first launched for staff only at Santander at the time, but it's now ready to be implemented for the regular customers

 

https://ripple.com/insights/santander-becomes-first-uk-bank-use-ripple-cross-border-payments/

 

 

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