SBI Holdings To Launch A Ripple-Based Mobile App By The End of 2018

By Kapil Gauhar

SBI Holdings, Japanese Fintech giant, will launch a Ripple-based mobile app “Money Tap” by the end of this year. The CEO of SBI Ripple Asia, Takashi Okita announced the news through a tweet on September 12, 2018, and also shared a website of the new mobile application.

Do Easy Bank Transfers Without Additional Fees With MONEY TAP

As indicated in The Next Web, the mobile payment application Money Tap will be available on both iOS and Android platforms. It’s a product from SBI Ripple that cam with a collaboration between SBI Holdings as well as Ripple. The company was formed two years ago in May 2016 to boost blockchain-based fintech projects as well as create the “Internet of Value” in Japan and Asia.

Money Tap helps with easy bank transfers without any additional fees. It’s going to be the first mobile application developed and used by various banks in Japan. With Money Tap, people will be able to make instant domestic payments which will allow the transactions to occur 24*7.

The consortium customers just need a bank account, phone number or QR code to leverage the service. Moreover, Money Tap not just enhances payment speed but also reduces the costs from ATM as well as banking fees applied to domestic money transfers in Japan, reducing an overall cost of money transfer.

“We are proud to leverage Ripple’s blockchain technology through our new mobile app, MoneyTap, to improve the payments infrastructure in Japan, said Okita.

“Together with the trust, reliability, and reach of the bank consortium, we can remove friction from payments and create a faster, safer, and more efficient domestic payments experience for our customers.”

The fast and seamless domestic as well as cross-border payments are Rippler’s mission to develop an Internet of Value where money can move frictionlessly.