American Express has started phasing in the acceptance of business-to-business (B2B) blockchain payments using Ripple's fintech platform. The company announced today that it will begin accepting B2B transactions on its XRP Ledger product and is working with Ripple to integrate this into their existing payment system. Greg Keeley, executive vice president of global corporate payments at Amex, said the system made transactions "more effective" for customers by cutting processing times for global transactions.
American Express has started phasing in the acceptance of business-to-business (B2B) blockchain payments using Ripple's fintech platform. Ripple's real-time and trackable blockchain service allows US companies to make instant cross-border payments to UK firms banking with Santander. Greg Keeley, executive vice president of global corporate payments at Amex, said the system made transactions "more effective" for customers by cutting processing times for global transactions.