Siam Commercial Bank Utilizing Ripple Rails for New Instant Payments App

Australian Securities Exchange delays the launch of its blockchain settlement platform due to coronavirus outbreak.
March 27th 2020
USPS - Ripple And The Universal Postal Union (United Nations)
USPS – Ripple And The Universal Postal Union (United Nations)
March 27th 2020


Thailand’s Siam Commercial Bank (SCB) says it’s building a new app that uses Ripple’s payments technology to allow tourists to pay for goods and services without needing to convert currencies.

Thailand’s oldest bank is a longtime Ripple partner and launched a Ripple-powered cross-border payments app called “SCB Easy” back in January.

Now, SCB says it’s once again tapping Ripple for a new app that allows tourists to use QR codes to seamlessly pay for goods and services in Thailand.

SCB senior vice president of commercial banking Arthit Sriumporn says the new QR-based app could transform how people settle payments when traveling abroad.

“Tourists simply scan the QR code to pay for something instantly without dealing with exchange rates or having to carry around large amounts of local currency.

It’s something new in the market that will change the tourism landscape and make lives better.”

SBC is using Ripple’s payment messaging system, which is designed to be a faster alternative to Swift. So far, the bank has not utilized Ripple’s cross-border payment solution, On-Demand Liquidity (ODL), which uses the crypto asset XRP to move money across borders.

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Igal Melamed



Source link

XRP vi.be Editor
XRP vi.be Editor
Editor at XRPvi.be, gathering information and insights about Ripple, XRP and related things from around the internet. Opinions deriving from any content do not represent ours. All content copyrights are with the original creators and holders. By clicking on the 'source' link you can visit the originating place of the content.

Leave a Reply

Your email address will not be published. Required fields are marked *