Cambridge Global Payments to Use XRP

Cambridge joined five financial institutions who have announced that they are using the xRapid technology
01 March 2018   1285

Cambridge Global Payments, a part of FLEETCOR Technologies and a big global provider of commercial payment solutions is launching a pilot program to use XRP coins in cross-border payment flows through xRapid solution. This is reported on the official Ripple website.

According to the publication, Cambridge currently has big audience - over 13,000 clients around the world and operates $20 billion in international transactions annually. Ripple says that XRP will provide their clients with a cross-border payments experience that is significantly faster, cheaper and more transparent.

We are excited for the insights this pilot program is expected to deliver, and we will use that information to help both Cambridge and FLEETCOR develop our use cases for blockchain in international payments.
 

Mark Frey

Chief operating officer, Cambridge Global Payments

Cambridge joined five financial institutions who have announced that they are piloting xRapid, including:

  • Cuallix, 
  • MoneyGram, 
  • IDT Corporation, 
  • Mercury FX
  • Western Union.

SendFriend to Raise $1.7 from Ripple & Mastercard

SendFriend got into the business accelerator "Barclays powered by TechStars" in September 2018
13 February 2019   160

New York-based payment startup SendFriend, focused on the use of XRP tokens for international remittances, closed a $ 1.7 million financing round from Barclays and fintech, Ripple, CoinDesk reports.

Mastercard Foundation, MIT Media Lab, Techstars Incubator, Mahindra Finance, 2020 Ventures and 8 Decimal Capital also took part in the round.

Note that SendFriend got into the business accelerator "Barclays powered by TechStars" in September 2018.

According to the representatives of the startup, the funds raised will be used to expand the staff, work with the community and marketing.

Initially, a startup will focus on labor migrants from the Philippines who regularly make remittances to their homeland from the United States. Converting US dollars to XRP tokens, and then to the Philippine peso, according to SendFriend, took few seconds.

It is noteworthy that SendFriend commissions will be 65% below the average in the traditional cross-border transfer industry.