IDT and Mercury will test the xRapid system from Ripple

The operator of telecommunications services IDT and the Mercury international payments service reported that they will pilot the xRapid money transfer system developed by Ripple and using the XRP crypto currency. This is written by CoinDesk.

Earlier, the beginning of testing the system was reported by a large money transfer operator MoneyGram, which will use xRapid for internal processes. In addition, last October it became known that xRapid is already used by the Mexican financial company Cuallix.

The application says that the purpose of using xRapid is to increase the speed of payments, up to processing in real time. Companies also view this technology as a way to reduce the overall cost of transactions.

"We are pleased to test xRapid's solution from Ripple to achieve the necessary liquidity. We believe that xRapid will help increase the number of transactions conducted in real time, as well as reduce fees, "said Alfredo O'Hagan, senior vice president of consumer payments at IDT.

Ripple CEO Brad Garlinghouse added: "Payment companies, such as IDT Corporation and MercuryFX, understand how XRP can help their business and customer service. We are glad to see them at the forefront of the Internet values. "

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