The US-based finance giant, Bottomline Technologies, is testing the remittance service of the blockchain-based giant Ripple. Ripple payment’s facility is already implemented by the famous financial institutions.
Bottomline is a recognized payment processing company in the US-specially remittance facility. It is reported that both are working together to design an efficient network for providing blockchain-based payment services.
The company’s solution architect, Laurent Laborde, comes on the scene and tells about the policy following the partnership. He explained that the platform is on the way to update the payment software with the addition of more advanced technology including the Ripple’s blockchain payment technology.
Ripple payment Messaging Service
The Ripple is known for offering messaging payment services for banks across the world and giving a better alternative to Swift. The XRP can also be used in the cross-border transaction system. However, Laborde has not cleared which service the company is going to implement.
Bottomline stated that their payment service is currently being operated by several recognized companies. Currently, the payment processing company is working in 92 different countries across the world and making out transactions in Trillions of dollars. These companies are using Bottomline’s solution to simplify payment processes. As Bottomline claims:
The proof of our success lies in the fact that Bottomline’s solutions are being used by thousands of companies in 92 countries to simplify and streamline payment processes, dramatically improve cash management and rapidly gain full control over payments. That’s billions of transactions processing trillions of dollars of payments every single year.
According to a recent report, Ripple is currently working with 38 largest banks of the world and out of 38, 18 are using the Ripple’s blockchain technology.