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AlexCobb

ING Launching on Ripple This November?

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https://www.ing.nl/particulier/betalen/betalingen-doen/instant-payments/index.html

it says instant payment and not settlement, but i faintly remember something to do with Ripple, Rabo bank, and ING testing but im not 100% since it was months ago. I would appreciate any info that connects some dots betweem Ripple and ING

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1 hour ago, BibleChronologyXRP said:

It's TIPS  , because on ING web page they wrote about a 15000 euro limitation for european bank  transfer:dash1: 

Not so sure, I think you misinterpreted something on the site, it says that the European standard allows for a maximum of 15,000$ as opposed to what this new system offers, which is a no maximum and different transfer speed. So I am reading this as TIPS is the European standard and this new system by ING is not

 

image.png.395f18d9b5dd8f5cb2930b31e9ab64e7.png

Also look at the top bullet "Instant Payments is based on European guidelines and banks can decide individually from when they offer instant payments."

This is interesting because if banks can decide when to start meeting the instant payments standard, then maybe they have a choice in the technology they'll use to implement instant payments

The second bullet is interesting also "ING has, together with other Dutch Major banks  decided to introduce instant payments in the Netherlands from May 2019 which, compared to the European standard, are processed faster and have no maximum amount"

It definitely sounds like the Netherlands are doing something different than the rest of Europe?

@AlexCobb I think you're on to something here and I think maybe it dovetails in with what @mars75 has researched previously

I wonder if we know of other Dutch banks possibly working with Ripple?

Edited by slinuxuzer

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Yes, ING is working with Ripple on instant payments and potentially RaboBank too. There could be more - linking to Santander? A possibility I think.

Subsequent good news if this is true is that the network would then allow for instant transfer to Japan as well of course :)

 

 

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5 minutes ago, Streamliner said:

Yes, ING is working with Ripple on instant payments and potentially RaboBank too. There could be more - linking to Santander? A possibility I think.

Subsequent good news if this is true is that the network would then allow for instant transfer to Japan as well of course :)

 

 

I think once you're on xCurrent its pretty simple to setup transaction processing between others on xCurrent, so yes, if.

Edited by slinuxuzer

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By the way: "In eerste instantie voor eurobetalingen tussen banken in Nederland, later ook in heel Europa. "

This in Dutch means in the first instance ("eerste instantie") they will do this amongst banks ("tussen banken") in the Netherlands for Eur payments ("eurobetalingen") which is domestic - very very interesting. Later also ("later ook") in the whole ("heel") of Europe, which is international.

If we connect the dots, ING is looking to implement Ripple's solution across both domestic and international transfers, like Japan.

@AlexCobb if you are considering mentioning ING in your next video or in the near future, ING's consideration for domestic payments usage of xCurrent may be interesting to bring up.

Edited by Streamliner

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9 minutes ago, Streamliner said:

By the way: "In eerste instantie voor eurobetalingen tussen banken in Nederland, later ook in heel Europa. "

This in Dutch means in the first instance ("eerste instantie") they will do this amongst banks ("tussen banken") in the Netherlands for Eur payments ("eurobetalingen") which is domestic - very very interesting. Later also ("later ook") in the whole ("heel") of Europe, which is international.

If we connect the dots, ING is looking to implement Ripple's solution across both domestic and international transfers, like Japan.

@AlexCobb if you are considering mentioning ING in your next video or in the near future, ING's consideration for domestic payments usage of xCurrent may be interesting to bring up.

Thanks for the translation, I did read the same basic idea when I translated it to english, basically they will start in the Netherlands and then expand the offering across Europe.

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That's a nice find. I think what was said by previous posters makes it so that the dots are easy to connect here. Little hints everywhere. Guys fill up your bags because the zerpening is about to happen.  Just ask Weiss ratings!!

😂🤣

Edited by Harfang

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