20 July 2018
Visit www.gemalto.com

AmEx partners Ripple and Santander for blockchain-enabled cross-border payments

16 November 2017  |  20057 views  |  0 American Express Web Logo

American Express has teamed up with Santander UK and Ripple to introduce blockchain-enabled cross-border business-to-business payments.

AmEx's FX International Payments (FXIP) business will route non-card payments through Ripple's real-time payments network.

The partnership will initially allow AmEx business customers to make instant and traceable payments to Santander bank accounts in the UK, although it is expected to eventually be extended to other partners and geographies.

The move will reduce the time and cost of settlement, simplifying connections with intermediaries and providing immediate end-to-end visibility into the transaction status and cost, says Ripple.

Greg Keeley, EVP, global corporate payments, AmEx, says: "Not only does this partnership with Ripple help decrease the time it takes for international transactions to be processed, it can make our transactions more effective for our customers."

Brad Garlinghouse, CEO, Ripple, adds: "Transfers that used to take days will be completed in real-time, allowing money to move as fast as business today. It is just the beginning, and we look forward to growing this partnership to help other American Express FXIP customers."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Ripple looks to drive bank adoption with $300m XRP rebate programme

Ripple looks to drive bank adoption with $300m XRP rebate programme

13 October 2017  |  34182 views  |  0 comments | 16 tweets | 6 linkedin
Ripple blockchain network hits 100-member mark

Ripple blockchain network hits 100-member mark

10 October 2017  |  17413 views  |  0 comments | 13 tweets | 15 linkedin
Ripple and R3 trade blows in legal dispute

Ripple and R3 trade blows in legal dispute

11 September 2017  |  12538 views  |  1 comments | 4 tweets | 5 linkedin
SBI and Siam Commercial Bank open cross-border remittance rail using Ripple

SBI and Siam Commercial Bank open cross-border remittance rail using Ripple

30 June 2017  |  13553 views  |  0 comments | 13 tweets | 11 linkedin
'Alexa, open Amex'

'Alexa, open Amex'

12 May 2017  |  11463 views  |  0 comments | 18 tweets | 27 linkedin
BBVA runs live funds transfers over Ripple

BBVA runs live funds transfers over Ripple

21 April 2017  |  20468 views  |  0 comments | 35 tweets | 20 linkedin
American Express makes first bitcoin investment

American Express makes first bitcoin investment

23 October 2015  |  13808 views  |  0 comments | 19 tweets | 23 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit https://secure.vasco.comVisit info.nice.com

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
12233 views comments | 5 tweets | 7 linkedin
Metro Bank opens developer portalMetro Bank opens developer portal
10105 views comments | 5 tweets | 14 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
9821 views comments | 6 tweets | 15 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
9589 views comments | 9 tweets | 17 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
9379 views 19 comments | 14 tweets | 30 linkedin

Featured job

to GBP Six-Figure Base, double ote, benefits
London, UK

Find your next job