Cambridge Global Payments, a subsidiary of FLEETCOR Technologies, a leading global solutions provider for commercial payments, will launch a program to use XRP in cross-border payments through the system xRapid. The company joins five major financial institutions that have already announced their pilots xRapid: Cuallix, MoneyGram, IDT Corporation, Mercury FX and Western Union.
Cambridge Global Payments works with large and small enterprises to ensure fast and secure payments for fuel, taxes, housing, and General accounts payable through their own payment network in North America, Latin America, Europe and Australia. Currently, the company has 13,000 customers worldwide and annually processes $ 20 billion of international transactions. The introduction of XRP in these streams will help to make cross-border payments much faster, cheaper and more transparent.
Chief operating officer at Cambridge Global Payments mark Frey’m sure decisions such as xRapid, can not only help us to improve our work with clients, but also to stimulate a critical innovation in the industry. Further implementation of a digital asset according to experts, will lead to revolutionary changes in the cross-border payments.
Financial institutions are beginning to use xRapid as a source of liquidity, and this, according to experts, will lead to the fact that the capital locked up around the world and necessary in the present system of international payments, may be made available and used in new ways.
Ripple Director of business development Danny Aranda considers cooperation with Cambridge Global Payments as an important step to overcome the inefficiency of the global payment system. This will bring the world to the creation of the Internet of Values, in which funds can move as well as information.
We will add, analysts say a reasonable positive rate of Ripple on the news on partnerships. However, contrary to expectations, the price of Ripple has not yet shown strong growth. According to CoinMarketCap, the rate of Ripple (XRP) March 1, fluctuated around the value of $ 0,93.
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