Jump to content

Santander Impact - OnePayFX


 Share

Recommended Posts

24 minutes ago, slinuxuzer said:

Santander has stated they want to take OnePay FX worldwide, in 2009 this would have meant opening up thousands of agent locations at brick and mortar outlets and following the legacy model of Western Union, MoneyGram etc. Today this is as simple as meeting the various regulatory requirements to operate in XYZ countries (Santander is already in 31 countries and has 102 million customers)

Serious double like for this @slinuxuzer :D

29 minutes ago, slinuxuzer said:

Yes I realize at this point only xCurrent has been confirmed, and I won't start the conspiracy mill here, but I personally do believe the road map for this service will be to use xRapid for one-hundred percent of transactions in the future, why do I believe this, because why wouldn't you ?

I too believe that once Santander has the ball rolling comfortably, they most certainly will make the upgrade to xRapid, for even more profit...

29 minutes ago, slinuxuzer said:

What will be the net impact on XRP, your guess is as good as mine. What I will speculate is this, if this service is launched and marketed properly, I think this could turn the entire remittance market on its head in a very short amount of time.

I was also just thinking the same, why would anyone need to go to a physical money transfer location, when they can just use their phone?

(Bold emphasis is mine)

 

Link to comment
Share on other sites

3 minutes ago, GiddyUp said:

Serious double like for this @slinuxuzer :D

I too believe that once Santander has the ball rolling comfortably, they most certainly will make the upgrade to xRapid, for even more profit...

I was also just thinking the same, why would anyone need to go to a physical money transfer location, when they can just use their phone?

(Bold emphasis is mine)

 

I think the two biggest components in Ripple/XRPs favor here are 

 

1. The fees - I live in Texas and we have a large Mexican immigrant population and my whole life I've seen these people line up at Western Union terminals on pay day to send money home, if you are one of them and you busted your ass all week to send that 50$ home, believe me spending 12$ or whatever to do it, versus spending just 50 cents to do it is a no-brainer.

 

2. No longer going into the store - I realize the incumbents are launching this capability, but the service offerings don't seem to have feature parity with what you can do in the retail outlets, possibly because they want to protect their retail partners? But sooner or later the vast majority of customers will demand being able to pay over their phone. I see this as similar to the Amazon effect, no one wants to wait, no one wants to fight traffic, just to fight the mob at Wal-Mart. 

Link to comment
Share on other sites

1 hour ago, slinuxuzer said:

At this point I am sure most of you have seen the demo video posted on the official Ripple YouTube channel, if you haven't then I'll post the link at the end of the thread. I've spent a lot of time thinking about exactly what the actual impact of the application will be. The thought I have is this, Iphone was a total game changer for a few reasons - it was easy to use, allowed the proliferation of mobile applications, digitized music, and allowed you to use internet on your mobile, yes other phones allowed internet use, but most of them (blackberry) were more or less unusable for internet. Fast forward from 2009 to today and damn near everyone uses Iphone or a competitor that offers all the same functionality, more or less.

Santander has stated they want to take OnePay FX worldwide, in 2009 this would have meant opening up thousands of agent locations at brick and mortar outlets and following the legacy model of Western Union, MoneyGram etc. Today this is as simple as meeting the various regulatory requirements to operate in XYZ countries (Santander is already in 31 countries and has 102 million customers), then launching an application / service that can be downloaded on your phone. 

So soon there will exist a service that

  • Provides the cheapest remittances
  • Is available worldwide to anyone with a smart phone and a funding source
  • Doesn't require you to go to an agent location in person
  • Sends money in a matter of minutes
  • Is offered by one of the largest banks in the world (16th I believe)

Yes I realize at this point only xCurrent has been confirmed, and I won't start the conspiracy mill here, but I personally do believe the road map for this service will be to use xRapid for one-hundred percent of transactions in the future, why do I believe this, because why wouldn't you ?

What will be the net impact on XRP, your guess is as good as mine. What I will speculate is this, if this service is launched and marketed properly, I think this could turn the entire remittance market on its head in a very short amount of time. How much market share would the incumbents need to lose over a 12-24-36 month period to be forced to react? Not much is the answer, corporations and stock holders demand growth, and when they are handed shrinkage instead executives get replaced.

https://en.wikipedia.org/wiki/Banco_Santander

 

 

 

 

 

Santander is currently leading the development and application of blockchain with a privileged position.

He was an initial investor in Ripple and this investment, I think, of approximately $ 2 million has been totally positive.

Once your XCurrent-based applications are deployed worldwide, the logical step to XRapid will come.

Link to comment
Share on other sites

3 minutes ago, Esprxp said:

Santander is currently leading the development and application of blockchain with a privileged position.

He was an initial investor in Ripple and this investment, I think, of approximately $ 2 million has been totally positive.

Once your XCurrent-based applications are deployed worldwide, the logical step to XRapid will come.

Exactly, the fact that Santander was invested in the ecosystem from very early on is not lost on me, this was obviously their vision, to disrupt the remittance space.

Link to comment
Share on other sites

1 hour ago, slinuxuzer said:

At this point I am sure most of you have seen the demo video posted on the official Ripple YouTube channel, if you haven't then I'll post the link at the end of the thread. I've spent a lot of time thinking about exactly what the actual impact of the application will be. The thought I have is this, Iphone was a total game changer for a few reasons - it was easy to use, allowed the proliferation of mobile applications, digitized music, and allowed you to use internet on your mobile, yes other phones allowed internet use, but most of them (blackberry) were more or less unusable for internet. Fast forward from 2009 to today and damn near everyone uses Iphone or a competitor that offers all the same functionality, more or less.

Santander has stated they want to take OnePay FX worldwide, in 2009 this would have meant opening up thousands of agent locations at brick and mortar outlets and following the legacy model of Western Union, MoneyGram etc. Today this is as simple as meeting the various regulatory requirements to operate in XYZ countries (Santander is already in 31 countries and has 102 million customers), then launching an application / service that can be downloaded on your phone. 

So soon there will exist a service that

  • Provides the cheapest remittances
  • Is available worldwide to anyone with a smart phone and a funding source
  • Doesn't require you to go to an agent location in person
  • Sends money in a matter of minutes
  • Is offered by one of the largest banks in the world (16th I believe)

Yes I realize at this point only xCurrent has been confirmed, and I won't start the conspiracy mill here, but I personally do believe the road map for this service will be to use xRapid for one-hundred percent of transactions in the future, why do I believe this, because why wouldn't you ?

What will be the net impact on XRP, your guess is as good as mine. What I will speculate is this, if this service is launched and marketed properly, I think this could turn the entire remittance market on its head in a very short amount of time. How much market share would the incumbents need to lose over a 12-24-36 month period to be forced to react? Not much is the answer, corporations and stock holders demand growth, and when they are handed shrinkage instead executives get replaced.

https://en.wikipedia.org/wiki/Banco_Santander

 

 

 

 

 

Hey Guys just wondering about this in light of the comment that was just made indicating that Santander, it seems, is not interested in XRP any longer for global payments. it's in an article in the press section. (sorry I couldn't link, literally running out of the house). Would love all your guys thoughts on this.

Edited by Edm22
Link to comment
Share on other sites

Just now, Edm22 said:

Hey Guys just wondering about this in light of the comment that was just made indicating that Santander, it seems, is not interested in XRP any longer for global payments. it's in an article in the press section. (sorry I couldn't link, literally running out of the house). Would love all your guys thoughts on this.

https://www.coindesk.com/blockchain-can-finally-fulfill-promise-global-payments

Link to comment
Share on other sites

21 minutes ago, Bojanq said:

And where does it say Santander is not interested in XRP?

Julio Farra, head of blockchain R&D at Santander: "We don't believe cryptocurrencies are the answer" for liquidity management - including XRP.#Synchronize2018

10:53 AM - Apr 19, 2018. This is what I came across, but again not sure what it means.

Link to comment
Share on other sites

45 minutes ago, Edm22 said:

Hey Guys just wondering about this in light of the comment that was just made indicating that Santander, it seems, is not interested in XRP any longer for global payments. it's in an article in the press section. (sorry I couldn't link, literally running out of the house). Would love all your guys thoughts on this.

So I just researched this, and I actually remember this now from back in April, this was one of the sleeziest tweets I've ever seen. The source of this was a CoinDesk tweet from April 19th - there were multiple things wrong with the tweet. 

1. They spelled the guy's name wrong

2. There is a very sketchy placement of the quotation marks in the tweet, that if you interpret the quotation marks as they are written, it seems to indicate that everything in the quotes is from the Julio, but the last clause that says  "for liquidity management - including XRP" would have been something CoinDesk appended / inferred. 

IMO, this is complete FUD horseshit perpetuated by CoinDesk, I've seen his from them before and I'm sure many others have - no real way to confirm their quote, just have to take their word for it, and they build in plenty of ways to back out of it if challenged, such as spelling his name wrong.

Sadly it takes one guy in one forum post who is "sorry I couldn't link, literally running out of the house" to point to someone who pointed to something else, that eventually lead back to complete fake news from April to get this whole thing going again.

Take a look at the screen snip and decide for your self, but does anyone really believe that "Julio Faura" (which is how you actually spell his name) stated his entire thought AND then said "including XRP" - do we really think he made a point of calling that out? No I don't think he did.

If this "news outlet" CoinDesk can't even spell the guy's name right, then I have a hard time believing they can take an accurate quote, and put it in the correct context.

https://www.linkedin.com/in/juliofaura/ 

 

image.png

 

Edited by slinuxuzer
Link to comment
Share on other sites

Dont be shocked to find Santander will use their own system for settlement and not use xRapid.

xCurrent works for them now but when it's time they will go on their own.

Just because the article is on Coindesk doesn't mean it isn't true..... Faura wrote it himself. 

Santander is developing the USC, looks like they picked their own blockchain tech instead of Ripple's.

Link to comment
Share on other sites

30 minutes ago, sattop said:

Dont be shocked to find Santander will use their own system for settlement and not use xRapid.

xCurrent works for them now but when it's time they will go on their own.

Just because the article is on Coindesk doesn't mean it isn't true..... Faura wrote it himself. 

Santander is developing the USC, looks like they picked their own blockchain tech instead of Ripple's.

USC is not a open source cross border settlement..

They have different functions. 

Brad's peanut butter manifesto holds true here, Ripple a laser focused on their specific use case. 

Edited by Guest
Link to comment
Share on other sites

1 hour ago, sattop said:

Dont be shocked to find Santander will use their own system for settlement and not use xRapid.

xCurrent works for them now but when it's time they will go on their own.

Just because the article is on Coindesk doesn't mean it isn't true..... Faura wrote it himself. 

Santander is developing the USC, looks like they picked their own blockchain tech instead of Ripple's.

Please provide a link to said article that lists Julio as the author. What I saw was a tweet, and a few articles from dubious sources that quote him. I don't think you can.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.