Ripple XRP and Santander Payments App Online - Review and First Look. International Payments Got A Lot Easier! #XRP #Money

2년 전

What's up Crypto Revolutionaries?

Today we're talking about the new international payments processor from Ripple and Santander. This payments processor makes international payments so much easier and cheaper, using Ripple's Blockchain technology. I'll be reviewing this marvellously simple app and letting you know the potential for the future.

What is it?

One Pay FX app is an international payments app, for customers from Brazil, Poland, Spain and the UK. It is mainly centred around UK customers as people from Brazil and Poland will only be able to send money to the UK, however Spanish patrons can send money to the UK and US. However they do have plans to expand their operations if this initial period goes well. UK customers can send money to the European Economic Area, converting to Euros, and send money to the US converting to USD.

The App uses xCurrent Blockchain technology, provided by Ripple, maybe due to the fact that Innoventures (an investment side chain of Santander) invested $200 million in Ripple in 2015. This technology will make it much quicker and easier to transfer money across continents, and without the mammoth costs. In fact, at the minute the costs are less than PayPal as they are free (but they will probably put them up at some point). It's not quite as good as cryptocurrency, but for those, who are unfortunately not crypto revolutionaries, this could be a great service.

In terms of the UK customer this could revolutionise international payments, especially to the whole of the Eurozone.

The App, a quick review.

This app is the simplest app I think I've ever seen. It's literally just a screen with how much you want to pay, the exchange rate and who you want to pay it to. Clearly you have to put in all the recipients details before paying, the IBAN etc. The exchange rate is based off Santander banks exchange rate so you can be pretty sure you aren't getting ripped off. All you need to get started is a Santander UK current account and you're away.


You can see how simple the UI is above and below.


This is extremely easy to use and will be great for those who aren't that well versed in technology. People can say that its too simple or too lacking in features but I would say, what else does it need? It does everything you need it to in two clicks. It's clean, fast and neat, what's the point of cluttering it up.

In terms of the service provided, the current transaction fee is free, which is amazing. However, I do think they'll raise this up in the future and they do reserve the right to. You can send a minimum of £10 in a day, with the maximum of £10,000, making it great for everyday users, but not for richer people or businesses. In terms of time taken, if you pay before 10:30 am then your payment will reach the EU the same day, or if you pay before 17:00 then the payment will reach the US the next day. So this isn't as good as crypto, but still a great improvement on the previous model!

The Future for the App and These Payment Processors

In terms of the app in the future, could they add XRP transactions and transfers? That would be an amazing option and bring cryptocurrency to the forefront of anyone using this app for international payments. This could widen the view of cryptocurrency across the world and bring awareness to many people.

This could also cause other payment providers to use this system, however it depends on the success of the app. If the app flops then no one else will want to touch this route. This should however bring business to Santander and hopefully we will see the app thrive.

If Santander put the fee price up then I hope that they keep it extremely low, such as 1% or lower because any higher could kill this in its steps. People would just revert to PayPal or cryptocurrency.

So overall a great app with a killer potential. Of course it's not as good as cryptocurrency but its pretty interesting, and could open the crypto doors to many people. We'll have to watch the progress of the app as it goes on and hope that they implement XRP transfers as well, now that would be killer.


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*Disclaimer - this is not financial advice, but my own personal opinion. Do you own research before investing.


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