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codiusrex

Santander Pago FX

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Posted (edited)

You can do FX transfers, real-time, between the UK and continental Europe. And you can actually do Poland, Brazil and Chile – through Santander – for the same cost as Transferwise…

And that is the reason why we need to really think about what is real reciprocity. The devil is in the details and the timing.”

Botín says One Pay FX is now powering more than half of Santander Group’s FX payments.

With this new initiative that is already in place, we’re actually covering 50% of all the FX payments that the Santander Group does annually.

And it works really well, because the rails that we’re using – which, as you say, we’ve collaborated with Ripple – we’ve been testing those for two years, actually with our own employees. And it works. It’s safe. It’s fully compliant, and obviously we’ve made sure we comply with all local regulations. So you’re in safe hands.

 

Half of the Santander Group FX payments powered by Ripple ?

That's music to my ears:blush:

Edited by JannaOneTrick

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This is literally the internet of value.  I firmly believe that one day whether it is Pago FX, moneytap, or any other app soon to be developed you will soon be able to travel the world with your cell phone and make payments to anyone in any currency instantly and cheaply.  

I am so ******* excited by this announcement, we are so early to this party.

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Santander Earmarks €20B for Digital Tech

”....Santander plans to extend One Pay FX, its real-time mobile money transfer system developed in concert with Ripple, to non-customers through a standalone open market app called Pago FX which will be launched in the UK, Germany and Poland for individuals and SMEs in the near future.”

https://www.finextra.com/newsarticle/33631/banco-santander-earmarks-eur20-billion-for-digital-spend?fbclid=IwAR0sS1lwN78jCybgUGsrPxrDQ5o46LjLxoGgNWGMblkjF8wk2pvoc8spA-U&sfns=mo

B00C7178-3183-4606-AEF5-B53D0F02D086.jpeg

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Very nice to have Santander champion what Ripple has been building for so long.  The product will use xcurrent, and it will allow for ANYONE to exchange value even if they do not hold a Santander account. This is the type of revolutionary banking that is to come for the rest of the world!

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