FLEETCOR Technologies continues to explore blockchain opportunities in payments. As part of these efforts, FLEETCOR is launching a pilot program with Ripple, the enterprise blockchain solution provider, and Cambridge Global Payments, the FLEETCOR-owned B2B international payments provider. Cambridge processes over USD 20 billion in B2B cross-border payments annually, helping 13,000 business clients make international payments to suppliers and employees. Under the agreement with Ripple, Cambridge will pilot the use of XRP, the native digital asset of the XRP Ledger, in payment flows through xRapid, Ripples solution for on-demand liquidity.
The xRapid pilot program builds on an existing relationship between Cambridge and Ripple which has been exploring similar advantages of xCurrent, Ripple’s enterprise software for messaging and international transaction settlement.
xCurrent allows financial institutions to communicate information about a payment between each other in real-time, and settle the payment instantly.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now