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Ripple promises transparency, certainty and speed, says Banco Santander Official

Akash Anand

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Ripple promises transparency, certainty and speed says Banco Santander Official
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In a recent interview, Ed Metzger, the Chief Technology Officer of OnePay FX at Banco Santander spoke about the partnership with Ripple and the different ways how the tie-up would be beneficial for customers as well as the entire ecosystem as a whole.

Metzger stated that the core idea of the partnership is Ripple addressing the pain points and demands of the customers in the international payments scene. According to him, the first thing in this model is to tackle the growing demands of the customers in the cryptosphere. He feels that as different aspects of life are improving, the way users conduct transactions has to be improved multifold and reach a certain standard.

The Santander official also touched upon a three-pronged approach to improving the standards of the international payments scene after teaming up with Ripple. Metzger said that transparency during payments was key as a lot of the users consider it a key factor during payments. He said:

“I need to know where my money is going and how. If a service tells me how much the entire process is going to cost me, they will win my trust. That is what we are trying to do with Ripple.”

Ed Metzger followed it up by acknowledging the importance of certainty in payments. He feels that as a customer, he or she should know what is going to happen to the money that is being sent and received. The next factor that he covered was the concept of speed in transactions.



He stated that Ripple being a decentralized network possesses the characteristics to make transactions across borders much faster and seamless. This involves everything from the payments being debited to the amount being credited to the respected receiver, said Metzger. He further added:

“One of our goals with this development is aligning the experience associated with international payments with the experience that users get from a lot of other commodities. It has to be digital, quick to gain access with fast recovery timings.”

Metzger had earlier stated that Santander’s use of Ripple’s technology has “improved customers’ lives”, which comprises about 140 million individuals across retail and commercial fields worldwide. Post the Ripple Swell 2018 he stated:

“We believe that financial services is moving to a world of open platforms where companies collaborate to deliver excellent customer service for their customers, and that’s at the core of what we’re doing with OnePay FX.”





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1 Comment

1 Comment

  1. Avatar

    Land

    October 6, 2018 at 6:20 AM

    I think that The big news has already come, and it has not done much to the price. But for a savvy investor, this could actually be a good time to buy into XRP.

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XRP

XRP: Google Chrome extension to detect trustworthiness of select XRP addresses goes live

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Google Chrome extension will detect XRP wallet's trustworthiness of selected XRP addresses
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The XRP community is vast and perhaps, the most active community in the crypto-ecosystem. The community’s active presence has led to many developers and new users flocking to the ecosystem. This has also led to the development of several XRP-centric products for the ecosystem.

A Twitter user and a well-known developer, @SchlaubiD, put out a tweet about his latest development of a Google Chrome extension. This extension can be used to identify the trustworthiness of XRP wallets. The tweet read,

Additionally, the developer mentioned,

“If you are maybe seeing #Coil payments on every page, keep calm it’s expected 🙂 The extension also implements a test for monetizing chrome extensions.”

While there are tools for other cryptocurrencies to check the trustworthiness of wallets, this is the first of its kind that lets users check the same, via an extension.

The developer had previously created an extension that allowed users to send XRP via emails. The first extension/add-on allows users to send XRP via Microsoft Outlook, and the second extension made it possible via Gmail.

Micro-payments are well-known and famous in the XRP community due to the nature of the XRP Ledger, which  settles transactions faster. The micro-payments scene caught on after Wietse Wind created XRP TipBot, which is now available on Twitter, Reddit, and other platforms. Ripple supported Wietse Wind with an investment via Xpring, for his future ventures.



A Twitter user, @John_S_cothill, commented,

“Congrats, this looks ace! Possible Gmail extension in future for the businesses that have moved away from Outlook (its a growing proportion), and personal users?”

@bigbuckor, another Twitter user, commented,

“This would be yet another revolution in the way we send money…with this, who would need Western Union?!”





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