Jump to content
Sign in to follow this  
LeonidasH

Ripple exec joins U.S. Faster Payments Council Working Group tasked to improve cross-border payments

Recommended Posts

All these other organisations are members, dozens and dozens of them. Does Ripple membership mean anything?

 

ABTC Corp.

Accredited Standards Committee X9

ACI Worldwide

Aite GroupAlabama Banker's Association

Alloya Corporate FCU

Alston & Bird LLP

American Banker's Association

American ExpressAptys Solutions, LLCAscert, LLCAssociation for Financial ProfessionalsATM Industry AssociationAvenue B ConsultingAvidXchangeAxletreeBanker's Bank (Madison)Bankers' Bank of the WestBarclays Bank DelawareBayer Heritage Federal Credit UnionBetter Buy DesignBHMI dba Baldwin ackett & Meeks Inc.BillGOBlueflame ConsultingBMA Management Support CorporationBMO HarrisBNY MellonBottomline TechnologiesBridge Community BankBrown, OwenCatalyst Corporate Federal Credit UnionCDT Technologies, a Texas Corp (Ventanex)Center for Responsible LendingCeridian HCMCFM Communications LLCCitizens Bank & TrustCNB Bank & TrustCommerce BankCommunity Bankers Association of GeorgiaCommunity Bankers Association of IllinoisCommunity Bankers Association of OhioCommunity Bankers Association of OklahomaCommunity Bankers of MichiganCommunity Bankers of WashingtonCorporate Central Credit UnionCorporate OneCross River BankDebit NetworkDigital Check Corp. Discover Financial ServicesDow Chemical Employees' Credit UnionEarly Warning Services LLCEPCORElectronic Transaction AssociationEMVCoEnglebrardt, Leland SePayResourcesExcheQ, LLCFederal Reserve Bank of ChicagoFexco Marketing North AmericaFirst Commonwealth BankFirst National Bankers BankFirstBankFiserv (First Data Processing, Inc.)Food Marketing InstituteFuture Proof DigitalGlenbrook Partners, LLCGoldman SachsHeartland BankICBA - Independent Community Bankers of AmericaICBA BancardIcon SolutionsICUL Service CoprorationIliad SolutionsIndependent Bank of South CarolinaIndependent Community Bankers of MinnesotaIndependent Community Bankers of South DakotaInletIowa Bankers AssociationIowa Independent BankersiSoftware4banksJack HenryJames Polk Stone Community BankJPMorgan ChaseJuniper PaymentsLiberty BankLipis AdvisorsMastercard InternationalMerchant Advisory GroupMicrosoftMid-Atlantic Clearing House AssociationMidwest Independent BankMindgate Solutions Inc.Missouri Independent Bankers AssociationNachaNational Association of Convenience StoresNational Consumer Law CenterNational Retail Federation (NRF)Navigant Consulting Inc. / GuidehouseNavy Federal Credit UnionNetflix, Inc. Network Branded Prepaid Card AssociationNorth American Banking CompanyNorth Salem State BankOpen Payment Network, Inc.Pacific Coast Banker's BankPadrona Payments Advisory Group, LLCPayFiPayGility Advisors LLCPaymentsFirst Inc.Payrailz, LLCPayrocPayverisPennsylvania Bankers AssociationPeopleFirst BankPSCUPtap AdvisoryQ2Qcheque, Inc.Randolph Brooks FCUReef Karson Consulting, LLCReinvestment PartnersReliaFundRetail Industry Leaders AssociationRipple LabsSecure Payment SystemsSHAZAMShore United BankSnapCheck, Inc.Southern Financial ExchangeSWIFTTarget CorporationTASCET TD Bank, N.A.The Bankers Bank - OKThe Clearing House Payments Company, LLCThe New England ACH AssociationTranferWise Inc.TravelexUnited Nations Federal Credit UnionUpper Midwest ACH Association (UMACHA)US BankUS DataworksViewpointe Clearing, Settlement, & Assoc ServicesVisaVments IncVolante Technologes Inc. Volunteer Corporate Federal Credit UnionWalmartWells FargoWestern Payments Alliance dba WesPayWisconsin Automated Clearing House (

Share this post


Link to post
Share on other sites
33 minutes ago, xerxesramesepolybius said:

All these other organisations are members, dozens and dozens of them. Does Ripple membership mean anything?

 

ABTC Corp.

Accredited Standards Committee X9

ACI Worldwide

Aite GroupAlabama Banker's Association

Alloya Corporate FCU

Alston & Bird LLP

American Banker's Association

American ExpressAptys Solutions, LLCAscert, LLCAssociation for Financial ProfessionalsATM Industry AssociationAvenue B ConsultingAvidXchangeAxletreeBanker's Bank (Madison)Bankers' Bank of the WestBarclays Bank DelawareBayer Heritage Federal Credit UnionBetter Buy DesignBHMI dba Baldwin ackett & Meeks Inc.BillGOBlueflame ConsultingBMA Management Support CorporationBMO HarrisBNY MellonBottomline TechnologiesBridge Community BankBrown, OwenCatalyst Corporate Federal Credit UnionCDT Technologies, a Texas Corp (Ventanex)Center for Responsible LendingCeridian HCMCFM Communications LLCCitizens Bank & TrustCNB Bank & TrustCommerce BankCommunity Bankers Association of GeorgiaCommunity Bankers Association of IllinoisCommunity Bankers Association of OhioCommunity Bankers Association of OklahomaCommunity Bankers of MichiganCommunity Bankers of WashingtonCorporate Central Credit UnionCorporate OneCross River BankDebit NetworkDigital Check Corp. Discover Financial ServicesDow Chemical Employees' Credit UnionEarly Warning Services LLCEPCORElectronic Transaction AssociationEMVCoEnglebrardt, Leland SePayResourcesExcheQ, LLCFederal Reserve Bank of ChicagoFexco Marketing North AmericaFirst Commonwealth BankFirst National Bankers BankFirstBankFiserv (First Data Processing, Inc.)Food Marketing InstituteFuture Proof DigitalGlenbrook Partners, LLCGoldman SachsHeartland BankICBA - Independent Community Bankers of AmericaICBA BancardIcon SolutionsICUL Service CoprorationIliad SolutionsIndependent Bank of South CarolinaIndependent Community Bankers of MinnesotaIndependent Community Bankers of South DakotaInletIowa Bankers AssociationIowa Independent BankersiSoftware4banksJack HenryJames Polk Stone Community BankJPMorgan ChaseJuniper PaymentsLiberty BankLipis AdvisorsMastercard InternationalMerchant Advisory GroupMicrosoftMid-Atlantic Clearing House AssociationMidwest Independent BankMindgate Solutions Inc.Missouri Independent Bankers AssociationNachaNational Association of Convenience StoresNational Consumer Law CenterNational Retail Federation (NRF)Navigant Consulting Inc. / GuidehouseNavy Federal Credit UnionNetflix, Inc. Network Branded Prepaid Card AssociationNorth American Banking CompanyNorth Salem State BankOpen Payment Network, Inc.Pacific Coast Banker's BankPadrona Payments Advisory Group, LLCPayFiPayGility Advisors LLCPaymentsFirst Inc.Payrailz, LLCPayrocPayverisPennsylvania Bankers AssociationPeopleFirst BankPSCUPtap AdvisoryQ2Qcheque, Inc.Randolph Brooks FCUReef Karson Consulting, LLCReinvestment PartnersReliaFundRetail Industry Leaders AssociationRipple LabsSecure Payment SystemsSHAZAMShore United BankSnapCheck, Inc.Southern Financial ExchangeSWIFTTarget CorporationTASCET TD Bank, N.A.The Bankers Bank - OKThe Clearing House Payments Company, LLCThe New England ACH AssociationTranferWise Inc.TravelexUnited Nations Federal Credit UnionUpper Midwest ACH Association (UMACHA)US BankUS DataworksViewpointe Clearing, Settlement, & Assoc ServicesVisaVments IncVolante Technologes Inc. Volunteer Corporate Federal Credit UnionWalmartWells FargoWestern Payments Alliance dba WesPayWisconsin Automated Clearing House (

Do any of these other members taut a digital asset that can facilitate realtime settlement???

Share this post


Link to post
Share on other sites

 

2 hours ago, xerxesramesepolybius said:

All these other organisations are members, dozens and dozens of them. Does Ripple membership mean anything?

 

It's important, but not meaningful. It's a seat at the table that can't be ignored but doesn't have decision making powers.

Ripple offers more than the government actually wants. Only in the US could this be a deterrent.

Share this post


Link to post
Share on other sites
Posted (edited)
3 hours ago, xerxesramesepolybius said:

All these other organisations are members, dozens and dozens of them. Does Ripple membership mean anything?

Ripple membership does not mean anything.  I worked at one of those organizations a few years ago, when our CIO joined the faster payments council. I worked close with her, but not positive on the FPC details. Believe the group had a smaller core group that met more often and provided more direction. Then the larger group provided feedback and joined webinars a few times a year.  I would imagine Ripple is not in the core group (if this structure still exists). Looks like they are in a cross boarder payments sub group.

I believe at that time they were focusing on stuff like faster ACH payments between correspondent banks and respondent banks. Like reducing ACH processing time by a factor of day(s).  The larger banks and correspondent banks are interested in improving the current infrastructure that they control and make money off, rather than loosing control and profits from distributive technology like Ripple. International payments are notourous for being slow and requiring a lot of work, so ripple may be able to fill that gap for smaller organizations.

Edited by wogojump

Share this post


Link to post
Share on other sites
Posted (edited)
7 hours ago, aye-epp said:

Ripple offers more than the government actually wants. Only in the US could this be a deterrent.

WietseWind works from the Netherlands. After he went to the Dutch Central Bank in nov 2019, someone asked if the (regulated Dutch) future looked bright?

He replied:

image.png.7986297c913ff68c11048566aa2734bb.png

 

XRPTipbot is now using Uphold. The reason for it was the Dutch regulators are demanding an unknown sum on top of taxes or Tipbot wouldn't exist anymore today:

image.png.33b46f468f81fb2b8f0aaa8c501bdbee.png

 

It looks like regulators are buying time with unreasonable demands. Such demands are only frustrating for starters. It won't help anyone besides those who can easily pay any amount. A blanc cheque? Wow. 

Your government and their finance friends will be arranging your (expensive) digital future for you. And hero's like Wietse need our support.

 

Edited by Trisky

Share this post


Link to post
Share on other sites
12 hours ago, wogojump said:

Like reducing ACH processing time by a factor of day(s).  The larger banks and correspondent banks are interested in improving the current infrastructure that they control and make money off, rather than loosing control and profits from distributive technology like Ripple.

well said

Share this post


Link to post
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
Sign in to follow this  

×
×
  • Create New...