G-pay using Ripple?
Google Pay might need Ripple (XRP) for interoperability and integration with other money remitting service providers that are already planning on using Ripple. Moneygram and Western Union have partnered with Ripple and are testing the Ripple network for the back-end payment settlement system for money transfers. The Ripple Network could end up being the backbone of all money remitting services and Google Pay would have a smooth time if its payment settlement system is also by Ripple.
Whenever we open the internet, we see a new partnership or a new bank willing to work with the Ripple Team and the payment settlement solutions offered by them. One recent example is the testing of Ripple’s money settlement services by The Saudi Arabian Monetary Authority. This organization is the equivalent of the central bank of the Kingdom. This partnership will see Saudi Arabian banks using Ripple’s xCurrent software and infrastructure to settle payments more efficiently. Google needs to grab on this momentum that Ripple is exhibiting and also partner with them.
Another reason why Google Pay needs Ripple, is the highly publicized benefits of using Ripple as a payment option. To start, the transaction costs are cheap. It only costs $0.0004 per Ripple transaction. Each transaction takes 3.3 seconds on the Ripple network. This lighting speed is congruent to Google’s search engine speeds that return instant results.
There are sources confirming that Amazon might soon work on partnering with Ripple to ease transactions for its users . There is no doubt that Ripple with its popularity is now gaining traction from major players in the industry .
SOURCES : https://oracletimes.com/why-google-pay-needs-ripple-xrp/
-team Streamerium
