Newswire: Nov. 16, 2017.
Dateline: New York.
American Express today announced it is working with Ripple, a provider of blockchain payment solutions, to introduce blockchain-based transnational payments.
The rollout will begin in the United Kingdom, where Ripple will connect AmEx’s customers to Santander Group to deliver instant, trackable cross-border payments. Further, RippleNet will support remittances from AmEx customers in the United States to U.K. bank accounts, also through Santander.
AmEx, in a statement, said blockchain payments improve international transactions over what traditional payment processes usually offer, by simplifying connections among intermediaries and providing immediate visibility into the transaction’s status and cost.
“American Express has a long history of integrating new technologies into innovative products and services that differentiate and enhance the customer experience,” Marc Gordon, the chief information officer for American Express, said in the statement. “This collaboration with Ripple and Santander represents the next step forward on our blockchain journey, evolving the way we move money around the world.”
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