SBI Ripple Asia will officially launch the mobile app MoneyTap this fall. The announcement stated that the mobile application uses the technology of Ripple and aims to allow users to make cross-border payments at any time.

The news of the launch date related to the recent website launch of the application. According to the information on the website MoneyTap, the app is free.

It also became known that the first application can take advantage of the customers of the three participants in the Japanese banking consortium: Sumishin Net Bank, Resona Bank, Suruga Bank. Application for them will be available this autumn, after which are added the remaining members of the consortium.

It is noteworthy that the Alliance consortium is led by SBI Ripple Asia, which covers more than 80% of all banking assets in Japan.

Previous announcements about the new app also claimed that it will allow to make payments using your Bank accounts, mobile phones or QR codes. The app will also allow you to save on Bank fees that are normally charged from ATMs.

In the official report of the head of the SBI Ripple Asia, Takeshi Okita, which was dedicated to the initial product launch also stated that the product coverage with a consortium of market app helps users to make faster and more secure transfers.

Interestingly SBI Ripple is the second company which launched the app, based on the technology of Ripple, aimed at the repayment. The first was the Spanish Bank Santander, who had previously released an app called OnePay FX.

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