The Japanese company, SBI Holdings, which is a staunch backer of the Ripple and the XRP token, has said that it is working on making in-store payments with the XRP tokens possible. The bank last year announced an app called MoneyTap, which features the involvement of several banks in Japan, has retail payments in its sights.
MoneyTap is powered by Ripple’s xCurrent and allows users to pay merchants or other users with just a phone number or QR code. MoneyTap has acquired the necessary license to handle payments, and the fact that SBI is leading a banking consortium of 61 banks means that Ripple has the potential to expand fast in a short span of time.
Ripple is already heavily supported by SBI and a large number of Japanese investors see a lot of potential in XRP. SBI CEO, Yoshitaka Kitao, recently joined Ripple’s Board of Directors, a sign of close collaboration between the two.
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