Payment provider TransferGo announced that it will introduce a new Indian remittance method, which will use Ripple technology for real-time transactions.
TransferGo said in a press release that the biggest advantage of using Ripple’s technology is that it is faster to pay, which can replace existing communication systems, which are less efficient and can take two to three days. time.
This release clearly states that TransferGo is using Ripple’s blockchain payment products to implement this service.
TransferGo was initially concerned with the “billion-dollar” trading market between Europe and India, which has a certain relationship with “Ripple is heavily used in India”.
TransferGo also hinted that this may be just the beginning of its blockchain-based remittance, and said that this work opened up new prospects for the development of more products and services for TransferGo.
TransferGo founder and CEO Daumantas Dvilinskas said at the press conference:
“By using Ripple’s revolutionary blockchain technology, we are able to establish real-time communication between us and our bank partners in India, allowing TransferGo customers to send money to family and friends, or to make international payments immediately.”
The company also offers a slower but free remittance service that will be delivered within 2-3 business days.
Popper’s client Marcus Trech said: “TransferGo is a good example. It is a forward-looking payment provider that tends to adopt new technologies to provide customers with real-time, cross-border capital transfers. This is a big step forward for the payment industry.”
[su_quote]This article is writing on 07 Sept 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: [email protected] Or Whatsapp Us- +13098896258[/su_quote]