Payments company American Express is deepening its work with blockchain, recent statements and details on a job posting shows.
The partnership between American Express, Ripple and Santander Bank that began back in November of last year is reaching new heights as the trio continues to advance blockchain solutions to foster secure, high-speed cross-border payments. In a recent job posting on the American Express careers board, a clear reference was made to the partnership as evidence of the company’s focus on “growth, new products and technology offerings to meet customer needs and build on the American Express brand.”
“In 2018 we are introducing a [blockchain] solution with Ripple and Santander,” the ad said, which appears to have since been edited out.
Both American Express and Santander Bank, since the advent of their partnership with Ripple, have been using startup’s technology for the purposes of moving money across borders.
As reported by Smartereum, American Express vice president Colin O’Flaherty confirmed last week at Money 20/20 Europe that the firm would be using Ripple’s xCurrent tool to enable global transactions at higher speeds and greater levels of transparency.
“Ripple offers instantaneous, point-to-point conversations between the sender and receiver of funds. And that provides a real opportunity to alleviate most of the issues our customers are facing,” said Flaherty at the event, speaking of the challenges small-to-medium-sized enterprises (SMEs) encounter when engaging in cross-border payments.
The xCurrent product is already being used by Santander to enable their OnePayFX service which allows customers to complete international transfers either on the same day or the next one.