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FLEETCOR to test Ripple’s XRP cryptocurrency in international payments

Commercial payment solutions provider FLEETCOR Technologies is launching a pilot program with Ripple and Cambridge Global Payments to explore the use of XRP token to enhance the efficiency of international payments.

Cambridge Global Payments is a FLEETCOR-owned B2B international payments provider. It processes over $20 billion in B2B cross-border payments annually, helping 13,000 business clients make international payments to suppliers and employees.

The project involves testing the use of XRP, the native digital asset of the XRP Ledger, in payment flows through xRapid, Ripple's solution for on-demand liquidity.

“We’re focused on working with partners like Cambridge that understand the benefits of digital assets and are serious about using XRP to overcome the inefficiencies in the global payment system,” said Danny Aranda, Director, Business Development, Ripple. “We look forward to collaborating with Cambridge during this pilot to enhance the speed and transparency of cross-border payments for their clients.”

The xRapid pilot program builds on an existing relationship between Cambridge and Ripple aimed at exploring xCurrent, Ripple’s enterprise software for messaging and international transaction settlement. xCurrent allows financial institutions to communicate information about a payment between each other in real-time, and settle the payment instantly.

“We are excited for the insights this pilot program is expected to deliver, and we will use that information to help both Cambridge and FLEETCOR develop our use cases for blockchain in international payments,” said Mark Frey, Chief Operating Officer, Cambridge Global Payments. “We strive to deliver best-in-class cross-border payments services, with speed and transparency. We look forward to exploring how Ripple can help us continue to improve the customer experience using new technology.”

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