Bitcoin, Crypto currency, Blockchain

Payments via SMS: Ripple introduces XRP Text

XRP Text enables money transfers via SMS or Telegram. For payment orders that nothing is needed more than the mobile phone number of the recipient and, of course, a handful of XRP.

Like what? Yes, you heard right: Ripple payments via a mobile phone are now possible. The idea is not new: WeChat from China, has invented and has a quasi-monopoly on digital payments by Smartphone in the people’s Republic. A comparable solution for crypto-currencies has been lacking, however. With XRP Text a service to the world, the currencies of the race to the Usability of Digital, at least, a nudge could move.

What XRP Text?

Of a pre: registration is not necessary. All users of the telephone numbers of parties to the Transaction are in need of.

Transfers work as follows: The user first selects whether he or she would like to use the SMS Service or the Telegram-Integration of XRP-Text. The decision is made, you can start already. By Sending commands to certain phone numbers from Ripple users with the XRP Text can communicate-Bot and money transfers. It is sufficient to have the mobile number of the payee of Europe. According to the Website, the recipients don’t even have to be in possession of a Wallet to receive money.

And what is the cost?

According to the developers, the payment is the cost of service affordable. XRP Text works together with the telecommunications provider, Twilio. For transactions, the usual Twilio to fall fees in the amount of 0.01 to 0.09 US-Dollar. These are converted according to the Website, first of all, in XRP, and from the account of the customer debited. International Transfers are, however, more expensive than domestic. Who wants to go completely safe, can be the charges here prior to calculate.

Development Country Germany

Payment services, which work only by using a Smartphones, are one of the big promises of crypto-currencies. XRP Text may still be in Beta-stage and niche sound. The service is nevertheless an important step in the direction of Smartphone-Integration of digital currencies.

This type of payment is a promising possibility of financial Integration of developing countries, shows the adaptation rate of the M-Pesa in Kenya. In the East African country is it commonplace to give payments via SMS in order. In the country that makes a lot of sense, because Bank accounts are sparse and far between. Only about 20 percent of Kenyans have access to rudimentary Financial intermediation.

In comparison, the Smartphone-Integration of payment services is progressing in this country more than slow. Maybe the Ripple thrust is a tentative attempt to get things to Run.

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