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Multicurrency Crypto Wallet Integrates Apple Pay, With Google Pay to Follow Within Weeks

A multicurrency digital wallet has announced that it has fully integrated Apple Pay into its app, opening new payment options for users.

A multicurrency digital wallet that enables consumers to store crypto and spend their funds at more than 40 million outlets worldwide has fully integrated Apple Pay.

Spend says the latest version of its Spend Wallet app unlocks instant access to the popular iPhone feature, meaning that more than 20 supported cryptocurrencies can be instantly converted to fiat and used to complete a mobile transaction on demand.

The platform says its priority has been ensuring that users can access all of these features instantly. An emphasis has been placed on streamlining the Know Your Customer process, and once this is complete, eligible consumers can immediately receive a Spend Visa virtual card.

To ensure that the process is as simple as possible, users can select which cryptocurrency they want to use. All conversions into fiat happen behind the scenes, meaning shoppers are spared the convoluted and frustrating process of switching the assets themselves.

According to Spend, the next step is to roll out support for Google Pay within the next couple of weeks, meaning that owners of Android devices will be able to access similar features.

Bringing crypto to the masses

Spend says its cards can be used anywhere where Visa is accepted as a payment method. Whereas it has been a challenge for crypto enthusiasts to be able to use their assets for everyday purchases in the past, the platform hopes its technology will open doors and help this new approach to personal finance go mainstream.

In terms of security and protection, “leading encryption methods” are used to ensure sensitive personal information doesn’t fall into the wrong hands. This technology is also deployed to prevent any Spend card from being used without permission. Meanwhile, the platform says fiat funds are held at licensed payment and financial institutions to give users peace of mind.

Spend is available here

Spend says it is international in focus and wants to appeal to as many consumers around the world as possible. To this end, account holders can alternate between 27 fiat currencies and perform exchanges at the click of a button, including United States dollars, Canadian dollars and euros. As well as being beneficial for business travelers and those taking a holiday, this choice can help users protect themselves against volatility in the forex markets.

In a blog post from July 2018 explaining its vision for the Spend app, the company’s team said: “We are a firm believer in the fourth industrial revolution and the digitization of currencies. There are tremendous benefits for users worldwide to have control of their finances and to create an alternative financial solution for those whom don’t have access to banking which currently totals to 2 billion people worldwide.”

Keeping users informed

Through the digital wallet within the Spend app, the company gives users the chance to make informed decisions when making transfers to businesses, friends and family. As well as clearly indicating which currency is being used to complete the transaction, other crucial details — such as how long the transaction will take to clear and any associated fees — are displayed before money is sent. The payment can then be verified using a passcode or facial recognition.

Keeping tabs on the ever-changing crypto markets can also be crucial. From within the Spend app, users can access in-depth charts and analytics that make it easy to monitor recent fluctuations in a virtual currency’s value. As well as helping consumers to make financial choices, it is also hoped that users will learn new things about the industry, too.

Learn more about Spend

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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Santander Chooses Ripple (XRP) for 50% of Its International Transfers

The momentum for Santander’s OnePay FX mobile application is growing by the day with the Ripple (XRP) team showcasing a live demonstration on how simple it is to use the app. From the get go, the user interface is simple with the app letting the user pick between US Dollars and Euros as the form of currency to perform the transaction in. After inputting the recipient’s details, the user now uses Apple Pay to make a selection on which credit card to use to complete the transaction. Once the selection is made and the user presses ‘pay’ it takes a few short seconds to complete the transaction from the U.K to the United States as demonstrated.

The complete video of the demonstration can be found on youtube. The App is currently available in the Apple App Store for free downloads.

The demonstration proves that Ripple (XRP) via its product of xCurrent, and Santander’s OnePay FX, have managed to make international transfers a safer, faster and cheaper affair. In a world where time is more valuable due to our busy schedules, the use of OnePayFX is sure to grow as more mobile users demand efficiency through fintech and with many of us having friends and family all over the globe.

It is with the customer needs in mind mentioned above, that Santander has rolled out OnePayFX to Euro Zone countries and the United States. Santander Group’s Executive Chairman, Ana Botín was quoted as earlier saying that 50% of the bank’s annual international transfers are currently being carried by the Ripple-powered blockchain.

The above evidence of Ripple products working in an efficient manner is the reason Ripple CEO, Brad Garlinghouse, was adamant that the days of Bitcoin (BTC) dominance in the crypto-market are numbered. His reasoning was that BTC only dominates due to speculation by users in the crypto-verse. The tide will turn for BTC when the same users embrace the use cases of Ripple and other cryptocurrencies that solve real life problems. What will then proceed is a massive correction with the latter cryptocurrencies flippening Bitcoin.

[Photo source,]

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Apple Using Ripple (XRP) Interledger As Banking Becomes Easier With XRP

The cryptocurrency markets seem to be on steroids once again. Bitcoin (BTC) has gone past the $8,000 mark; Ethereum (ETH) is now back above $500; Ripple (XRP) is trading at an amazing $0.64; Bitcoin Cash (BCH) is at $774; and Litecoin (LTC) is trading at $131 and has reclaimed the number 5 spot from EOS (EOS – $9.22).

Amidst all this market excitement, is the news that Apple Pay has integrated Ripple’s Interledger protocol. According to the announcement, the update will be rolled out via the Safari browser using both macOS11.1 and iOS11.1. These are the operating systems for Mac computers and iPhones respectively. The Interledger integration hints at the possibility of Apple Pay accepting cryptocurrencies in the near future. If this were to happen, it would mean that users of Apple Pay will be able to use cryptocurrencies for regular purchases in the near future.

So what is Ripple’s Interledger Protocol?

Interledger is an open protocol suite for sending payments across different ledgers. Like routers on the Internet, connectors route packets of money across independent payment networks. The open architecture and minimal protocol enable interoperability for any value transfer system. Interledger is not tied to any one company, blockchain, or currency.

This means that Interledger can be used even by banks and other payment settlement solution providers. It allows for different back-end systems to communicate with each other in a manner that was up until now, a hustle for banks. Previous to interledger, sending payments across the globe took days. And as Brad Garlinghouse once said during a Bloomberg interview, it was easier to pack the cash in a bag and fly it over to the other bank physically.

With Ripple news streaming in every day and with the current market momentum that is exciting everyone in the crypot-verse, it is possible to fulfill the numerous Ripple price predictions that have been floating around the web.

$1 looks like a week away if the current momentum continues. With the usual slight corrections, we could reach the $4 by the end of June and $10 earlier than the December expectation by many Ripplers.

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Can Blockchain-based Cryptobanks Overtake Centralized Competitors?

For a long time, cutting-edge technologies have comprised the flagship achievements of the centralized banking systems across the globe both economically and socially. The technology behind credit cards and online payments have driven business performance, revenue and customer ease-of-access.

Just as early industry disruptors such as PayPal revolutionized the digital commerce landscape of their time, the modern day self-labeled ‘Cryptobanks’ are challenging the offerings provided by the status quo. They are making fully integrated cryptocurrency based banking services and payments accessible to every-day users, enthusiasts and entrepreneurs alike.

We are still in a transitional period between the centralized fiat finance era and what will become of its co-evolution with decentralized e-commerce. In light of this, I wouldn’t suggest that you ditch your brick and mortar account completely just now, but that shouldn’t stop you from reading more and seriously getting involved. There is potentially a great deal to be gained from being an early adopter of disruptive decentralized currency solutions.

Contactless payments and crypto loans

From credit/debit cards to PIN and contactless technologies, advances in payment solutions have been universally lauded for their value delivery to the companies that employ them. Additionally, their ease of use benefits both customer and retailer.

A number of cryptobanks have integrated mobile payment technologies such as NFC, QR, ApplePay, and AndroidPay. They have combined these with decentralized Blockchain based banking to provide global services. These can all be controlled from anywhere using a computer or mobile app.

Additional services offered by cryptobanks include the novel proposition of token-based credit loans. These can be accessed instantly anywhere in the world (pending application) and transferred to a currency of the customer’s choice.

Unrestricted and scalable corporate banking solutions

The benefits for business owners are numerous, when used correctly. For example, you can now create a new business from scratch and use the services on offer from a cryptobank for tailored solutions that can be scaled to almost any model. This could be either online or at a brick or mortar store, offering your customers the ability to pay in either fiat or cryptocurrency whilst enjoying total freedom from capital and government based restrictions. Needless to say, this can manifest in a reduction of regulatory fees and other expenses.

In addition to allowing contactless payment transactions (explained below), some cryptobanks boast seamless integration with retail POS software. This ‘best of both worlds’ approach makes a strong argument that cryptobanks provide a much more competitive solution for business owners than centralized banks.

In conclusion

The explosion of cryptocurrency in the media may make it seem like a dizzying phenomenon that only the most full-time enthusiasts can handle. In reality, the emergence of all-in-one service providers such as these ‘cryptobanks’ appear to put the power of advanced AI systems and real-time world currency metrics in the hands of any savvy individual.

Due to this decentralized nature, cryptobanks provide powerful solutions to a broad range of business and personal users. These include the security benefits of Blockchain without being bound by external regulations that limit their centralized high street rivals.

Gleb Markov, COO and co-founder of the quickly growing Cryptobank Crypterium, identified key attributes of the Blockchain for regulating decentralized finance activities being that:

“Within the Blockchain, nobody can rollback a transaction, identify a user or block a wallet. Everything is decentralized, anonymous and permanent — and we think it is a wonderful universe to live in.”

He continues to explain the multi-faceted benefits of cryptobank providers, which affect both retailers and the customer alike:

“Stores need to be able to accept not only fiat money but also cryptocurrencies (in various forms, i.e. fiat-crypto, crypto-fiat and crypto-crypto).”

The achievements of Markov’s ICO appear to stand testament to his wisdom, as Crypterium currently supports over 50,000 token-holders with operating services across 154 countries (since its launch on Oct. 31, 2017). It also offers variations of the majority of, if not all, the services mentioned in this article and would be a good starting point when researching such ‘cryptobanks.’

Dan Mitchell

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.