Ripple blockchain powered Banco Santander One Pay FX saw 230% growth in 8 months. The first blockchain-based retail payments solution was launched in May 2018, and within that month and December, it saw a massive growth, attesting to the outstanding performance of Ripple’s blockchain technology.
One Pay FX app offers an enhanced payment solution in four territories namely Spain, Brazil, UK and Poland. The app’s process remittance almost immediately, the reason it saw a great development in a very short time.
February 2019.@bancosantander Annual Report for fiscal year 2018:
One Pay FX had a 230% growth in monthly volumes from May to December 2018.
— XRP Research Center (@XrpCenter) March 22, 2019
The mobile banking application makes it easy for Banco Santander customers to make payments of up to EUR 11,000 per day in an easy and seamless manner, the international bank has revealed in is 2018 annual report.
Around October, Ripple Lab announced a partnership with $80 billion banking giant Banco Santander, where the world renowned bank said it would be integrating RippleNet. Even though Santander has been experimenting with RippleNet for a transparent and easy payment solution.
During the last year’s Ripple Swell, Santander Head of Innovation Ed Metzger said the bank is utilizing xCurrent, a Ripple enterprise blockchain fashioned to improve customers’ satisfaction.
Metzger said: “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.”
“One of our customers was in Italy on holiday and parked in the wrong place. He needed to pay a fine and didn’t have his banking card. He was able to use the app to immediately pay the fine, and stop his car from being towed away. It’s four or five clicks to do something that would have taken an awful, awful long time in the past,” he added.