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PayPal fires up “Ripple-killer” Xoom app for international payments [Yahoo Finance]


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https://finance.yahoo.com/news/paypal-fires-ripple-killer-xoom-135739822.html

July 18, 2019 - Yahoo Finance (via Decrypt)

"This brings PayPal in line with international money remittance services, like TransferWise and MoneyGram who charge fees between $5-12 and $4-10 respectively. It also sets Xoom against blockchain-based rivals like Ripple. However, if it wants to compete with the likes of Ripple, it’s going to need to speed things up, and drop the price significantly. To send crypto blockchain-based transactions via Ripple takes less than a minute –as long as you have the right wallets in place before you initiate the transaction–and costs cents. Some have gone one better.

Europe’s third largest bank Banco Santander is using Ripple technology (but not XRP) to facilitate cross-border payments on its One Pay FX app. On this platform, users are able to make same day transfers, for free. By eschewing the blockchain, PayPal’s latest innovation is already yesterday’s news."

Edited by wrongbenson
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Xoom is likely using Ripple.

Deutsche Bank confirms HSBC and Xoom as Ripple clients in a DLT memo:
https://thexrpdaily.com/index.php/2019/01/16/deutsche-bank-confirms-hsbc-and-xoom-as-ripple-clients/

Xoom partnership with Ria (Confirmed Ripple partner):
https://www.pymnts.com/news/partnerships-acquisitions/2018/paypal-xoom-euronet-ria-global-remittance-money-transfer/

Xoom using Earthport (Ripple partner, recently bought by Visa):
https://www.earthport.com/case-studies/casestudy-xoom/

Nothing official, but it's more likely than not. Or I mean you could believe our old friend Clickbait.

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6 minutes ago, ADingoAteMyXRP said:

Xoom is likely using Ripple.

Deutsche Bank confirms HSBC and Xoom as Ripple clients in a DLT memo:
https://thexrpdaily.com/index.php/2019/01/16/deutsche-bank-confirms-hsbc-and-xoom-as-ripple-clients/

Xoom partnership with Ria (Confirmed Ripple partner):
https://www.pymnts.com/news/partnerships-acquisitions/2018/paypal-xoom-euronet-ria-global-remittance-money-transfer/

Xoom using Earthport (Ripple partner, recently bought by Visa):
https://www.earthport.com/case-studies/casestudy-xoom/

Nothing official, but it's more likely than not. Or I mean you could believe our old friend Clickbait.

I really really really would love for that to be true, but that's a huge stretch to say Xoom is using Ripple. I mean seriously - even if the CEO of Deutsche bank came out and said on record that Xoom is a client of Ripple, what the heck is his credibility and what kind of insight does he have into Xoom's partnerships and operations? And even if true, who knows what capacity of client they are - such as if they simply did a pilot test at one point in time?

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51 minutes ago, wrongbenson said:

I really really really would love for that to be true, but that's a huge stretch to say Xoom is using Ripple. I mean seriously - even if the CEO of Deutsche bank came out and said on record that Xoom is a client of Ripple, what the heck is his credibility and what kind of insight does he have into Xoom's partnerships and operations? And even if true, who knows what capacity of client they are - such as if they simply did a pilot test at one point in time?

so what, swift employed some people of the calibre of JK & just up and implemented a system, oh yee have little faith 8)

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The fact that they use the term "Ripple killer" sounds very positive to me. In the video games industry the same thing happened to World of Warcraft, for a decade after its release basically any MMORPG that was being developed was supposed to be "the World of Warcraft killer". Using these terms confirm that Ripple/XRP is the benchmark and it looks like that it will remain that for a long time.

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