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SCB brings Ripple-powered cross-border payments to biz customers

SCB brings Ripple-powered cross-border payments to biz customers

Thailand's Siam Commercial Bank (SCB) is set to open up its Ripple-powered consumer cross-border payments mobile app to businesses.

Earlier this year, SCB tapped into RippleNet to connect to banking partners around the world, enabling customers to make cheap instant low-cost cross border payments through its SBC Easy mobile app.

The service is primarily designed for Thailand's 4.9 million migrant workers from Cambodia, Laos, Myanmar, Vietnam and other countries in Southeast Asia.

However, the bank is now looking to bring instant payments to its small business and enterprise customers.

SCB and Ripple are also working on a QR code-based app that enables visitors to Thailand to use their home-country app for transactions without having to think about exchange rates.

Arthit Sriumporn, SVP, commercial banking, SB, says: "Being part of RippleNet has helped us to completely enhance our customer experience, expand our business and keep SCB moving into the future."

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