Ripple’s partner and Series C investor, SBI Holdings, has announced that it would be integrating Ripple-enabled payment technology into ATMs across Japan to let locals have easy access to their funds.
SBI made the declaration in its latest financial report for year 2019 where it noted that it would integrate Ripple-based MoneyTap, a payment application, with ATMs in the country.
“Currently, each bank has an ATM with its own bank app, but with a common web app, the same ATM may be used as its own jointly operated multi-bank ATM,” SBI Holdings noted.
The MoneyTap application is designed to be bank-independent and therefore would accord customers the privilege to withdraw from any ATM regardless of their primary bank.
The integration of the MoneyTap app into ATMs is however expected to bridge the gap between maintenance of customer service and reduction of ATMs operating costs.
It’s also believed that the Ripple-based application will promote standardization and the use of next generation ATMs in the Japanese community.
Ripple continues to extend its reach to the innermost part of the world. The Asian peninsular seems to a thriving place for remittance activity due to the huge population in the areas and the number of their citizens in diaspora.
Ripple ODL product is performing well in the industry. Ripple is also loan going to be offering loans to customers via its technology. The innovation was also welcomed with great delight among Ripple community, users and partners around the world.
