Banco Santander SA (NYSE: SAN) is building a payments network that will allow Latin American customers to freely transfer money to the U.S. via a mobile app that uses Ripple technology, according to CoinDesk.
“International payments is a way for us to acquire customers having a painful experience with traditional banking,” the publication quoted One Pay FX CEO Cedric Menager as saying.
Before this development, only certain European customers had the ability to send money via One Pay FX, the mobile app that leverages Ripple software.
“The international payment experience in the Latin American markets is even less evolved than in the European markets,” Menager said.
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