Ripple’s xRapid Client, FLEETCOR, About Buying Western Union Business Payments

Ripple’s xRapid –Information reaching us states that Western Union and FLEETCOR are nearing an agreement to completely sell the WU’s business payments operationsPE Hubstated on Wednesday, November 15, 2018.

PE Hub, which cited three unnamed sources, airs that Citi is the dealing advisor, stating further that the deal could reach nothing less than $600 million.

While this has not been confirmed, Deutsche Bank Analyst Ashish Sabadra said in September that FLEETCOR is a prospective purchaser of Western Union’s business payments unit.

The statement was succeeded by Bloomberg reports indicating that Western Union was doing an underground work to sell the operations that provides cross-border B2B payments services.

Sabadra maintained in the report that Cambridge Global Payments, a subsidiary acquired last year by FLEETCOR makes the firm a growing B2B payments company. Sabadra believes the acquisition of Western Union business payments assets is a step forward for the payment company.

Ripple and FLEETCOR Technologies Explores Ripple’s xRapid

1st March 2018, Ripple (XRP) announced that Cambridge Global Payments, a subsidiary of FLEETCOR Technologies, has decided to launch a pilot program that purposely intends using XRP in cross-border payment flows through xRapid.

With its over 13,000 clients across the globe, Cambridge handles around $20 billion in international transactions every year.

The company decided to make use of XRP in order to provide its clients with the state of the art cross-border payments experience that is more transparent, cheaper, and faster. The firm is also looking into xCurrent.

The purchase of Western Union’s Business Payments operation is a step closer to WU’s expected decision to use any of Ripple’s cross-border tools like xVia, xCurrent, or xRapid.

Ripple (XRP) Elbows Ethereum (ETH) Down To Third, Sits Confidently On The Second Position

The market is regaining its strength back and many coins are beginning to flaunt green colors in the market. Ripple’s XRP seems to be an opportunist of the recent bearish market and the present recover.

In the recent bearish market, while many were plunging massively, losing big from their market cap, XRP got affected slightly and lost not so much from its market cap compared to the like of Ethereum (ETH) making it displace the then known world second largest Cryptocurrency in the table.

XRP has since been the second position while Ethereum maintains the third position.

Also, while the last 24 hours has been featured with market recovery, Ripple (XRP) is placed amongst the top gaining coins in the market, spacing Ethereum (ETH) with wider margin which some referred to as an irreconcilable gap.

After starting the last 24 hours priced $0.4568 according to Coinranking, the altcoin began its upside trend trip on the rising wedge and it is yet to relent.

Xrp Price Today Takes Over Ethereum

At the early hours of the Asian trading session today, trade pair XRP/USD attained its highest price of the day, $0.4852, as at press time.

As at the time of writing this article, XRP/USD has added 3.21% to its value in the market, and it is priced $0.4715 against dollars.


Source
Author: Oliver Green
Image Credit 

Western Union Explore Settlement Project With Ripple

Western Union might be start using the cryptocurrency Ripple in its new pilot program.

The global remittance giant has confirmed that it is currently in discussions with the minds behind the digital currency, Ripple Labs. However, little is known about the details of these discussions. If the program does come to light it could be a memorable moment for Ripple and the whole cryptocurrency industry.

Monica Long, the President of Marketing and Communications at Ripple Labs, didn’t confirm any details regarding the project however, she did say:

“In general, financial institutions and networks use Ripple as a technology that powers real-time settlement in any currency to lower the cost of liquidity and compliance. Ripple was created to enable an Internet of Value in which the world can move can move value as easily as information moves today.”

For a long time now, Ripple Labs has promoted the cryptocurrencies network for payments as a way to advance worldwide payments. Many people speculate that Western Union could use the cryptocurrency as a way to send money much faster and a lot cheaper however, this has yet to be confirmed. According to Bitcoin Magazine, a comment made by Western Unions Director of Global Corporate Communications Kristin Kelly, it does suggest that the business is interested in using cryptocurrency for settlements however they didn’t go into explain their reasoning.

 

Kelly said:

“We have had preliminary discussions with Ripple regarding a pilot settlement project, but it is too early to discuss details at this time.”
The rumours of the likelihood of a partnership was made by the co-founder and CEO of Ripple Labs, Chris Larsen during his panel at the Milken Institute Global Conference on financial inclusion.

During the panel, Larsen said:

“We’re trying to solve the problem of connecting local banks and financial institutions to the global economy. We have this problem where we have a variety of different networks, whether they are in U.S or Kenya or Europe – they’re NOT connected. You can make a phone call to anyone with a phone number and you can send an email to anybody with an email address, but you can only pay people that are in your payment network. The goal is – how do you get all these things operating together?”


Source
Author: Nathan Bentley
Image Credit