First Live Ripple Payment
Live on stage at the Payments Panorama conference in Calgary, ReiseBank exchanged $1,000 Canadian dollars from ATB Financial into euros using the Ripple solution. Settlement occurred in just eight seconds, versus the 2-6 business days it would typically take.
Demo: With Ripple, banks can offer low-cost retail remittance services anywhere in the world.
“In the future, Ripple will enable cash-to-account and account-to-cash real-time payments, not just with ReiseBank but with institutions all over the world.”
— Frank Boberach, head of product management at ReiseBank
Cross-Border Payment Settles in 8 Seconds
ReiseBank is a wholly owned subsidiary of DZ BANK headquartered in Frankfurt.
Acquire new customers and increase usage of ATMs by making cross-border payments faster, cost-effective and more convenient for travelers visiting Germany.
ReiseBank completed a pilot with Ripple in four months and settled the world’s first live payment between Canada and Germany in seconds.