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Moneygram announces new Debit Deposit Card in Partnership with Visa

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https://finance.yahoo.com/news/moneygram-announces-debit-card-deposit-141500371.html

Quote

Actual fund availability depends on receiving financial institution and region. Visa requires fast-funds enabled issuers to make funds available to their recipient cardholders within a maximum of 30 minutes of approving the transaction. Please refer to the Visa Direct team and the Visa Direct Original Credit Transaction Global Implementation Guide for more information.

Anyone want to hazard a guess whether XRP is one of the elements in the settlement chain ?..

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53 minutes ago, Caracappa said:

The combination of Visa acquiring Earthport and MG working with XRapid gives hope.

But it also says its for domestic transfers first so that wont need XRP at first right?

Roll out is USA....but plan on opening up to non US markets.....wait and see.....moneygram states won’t see much volume till q 4 for Mexico...so if it was...not saying it is.....it would be down the line a bit....my guess.

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1 hour ago, richxrp said:

https://finance.yahoo.com/news/moneygram-announces-debit-card-deposit-141500371.html

Anyone want to hazard a guess whether XRP is one of the elements in the settlement chain ?..

No. This is card based transfer. The recipient bank has to enable funds to the receiver´s account within 30 minutes after they validate authorization request from sender bank. The final settlement between banks is done later on (usually next working day). Personally I don´t like this kind of news coming from Moneygram because I see it as a competitive service to XRP.

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17 minutes ago, Spartaksus said:

No. This is card based transfer. The recipient bank has to enable funds to the receiver´s account within 30 minutes after they validate authorization request from sender bank. The final settlement between banks is done later on (usually next working day). Personally I don´t like this kind of news coming from Moneygram because I see it as a competitive service to XRP.

Settlement within minutes vs Settlement the next day explain to me how in the world is that competition?  It's like you just said I need to get from New York to LA in the same day and you choose Amtrak instead of Delta or American Airlines.

Edited by RikkiTikki

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1 minute ago, RikkiTikki said:

Settlement within minutes vs Settlement the next day explain to me how in the world is that competition?  It's like you just said I need to get from New York to LA in the same day and you choose Amtrak instead of Delta or American Airlines.

Continuing the analogy ..I guess even though there is an alternate faster route, no one wants to travel using it until it's deemed to be safe ..

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1 hour ago, RikkiTikki said:

Settlement within minutes vs Settlement the next day explain to me how in the world is that competition?  It's like you just said I need to get from New York to LA in the same day and you choose Amtrak instead of Delta or American Airlines.

You should explain it to Moneygram why they decided to use it. Something is fishy here.

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2 hours ago, Spartaksus said:

No. This is card based transfer. The recipient bank has to enable funds to the receiver´s account within 30 minutes after they validate authorization request from sender bank. The final settlement between banks is done later on (usually next working day). Personally I don´t like this kind of news coming from Moneygram because I see it as a competitive service to XRP.

considering their debt, it could be a benevolent move

they have a duty to shareholders - not Ripple

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20 minutes ago, fiik said:

considering their debt, it could be a benevolent move

they have a duty to shareholders - not Ripple

And Ripple is what? One of the biggest shareholders. So they saved the company which gonna use other service.

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