Earlier Coinclarify had published an article mentioning the rumor of Amazon accepting Ripple as a payment method. However, a recent announcement from Currencies Direct, a UK currency conversion company, supports this gossip with the fact that they have successfully trialed implementing xRapid platform. To get ahead in the market, Currencies Direct is trying to reduce fees in the currency conversion in the eCommerce market.
Majority of transactions are from eCommerce market, and one main issue faced by them is a huge transaction fee. Which means providing a solution for low transaction fee will take Currencies Direct many steps ahead of their competitors. The results of the trial show that transaction between pre-screened parties takes seconds, on the flip side the usual transaction takes around 3-5 days for the same process. This was setting a huge lead for the currency conversion firm.
This trial proves technological advancement in the payment methods, allowing cryptocurrencies like Ripple to revolutionize digital payment system. It is needless to say that XRP is much appreciated in the market for its fast transaction as well as low processing fees. Without any doubt, this indicates huge potential customer bandwidth in contrary to the traditional payment method with a much lower speed of transaction.
Our trial with XRP was a resounding success. We’re currently assessing our next steps, but the evidence we’ve gathered indicates that the use of XRP is a game changer, making payments near-immediate and significantly improving service to our customers.
Our goal is to offer the best possible service. We believe that utilising cryptocurrencies in this way – as a transfer of value, rather than as a store of value – is the next logical step for our industry. It is, after all, the intended purpose of cryptocurrencies and we’re proud to be leveraging new technology to deliver the most convenient and seamless experience for our customers.
This represents a revolutionary step for the industry and clearly shows how FinTech companies like Currencies Direct are helping to revolutionise the financial services sector. We’re proud to be early adopters of this technology.
– Brian Harris, Chief Product Officer, Currencies Direct
Here are some handpicked news articles on Ripple –
- Ripple Donates $50 Million For Blockchain Research
- Ripple [XRP] Comes With Series Of Good News And Adoption
- Amazon Likely To Accept Ripple (XRP) – Rumor Spreads Out