XRP token increases accessibility to new customers on the Uquid platform
Uquid, a digital marketplace, recently implemented the use of XRP in payments, with customers showing support for the move. Consumers who own Ripple’s native token, XRP, can now use it to purchase items on the Uquid online shop.
Through the speed and affordability of XRP, investors can enjoy a 70% discount on over 30,000 products — including digital cards, games, coupons and worldwide mobile top-up cards.
The new inflow of customers suggests that consumers who could not access international transactions now have the means to do so. Additionally, consumers who have already been participating are using the service more often than before.
What is XRP?
Built upon the XRP ledger, the XRP token is payment-ready and can process transactions in just three to five seconds without a transaction fee. It is also powerful enough to process up to 1,500 transactions per second, making it suitable for use with high volumes of payments.
Traditionally, making global payments has been inefficient; with outdated systems and costly intermediaries taking a long time to facilitate transactions.
“Too often, global payments are costly, unreliable, and slow. The underlying systems are fragmented and complex. RippleNet offers the most advanced blockchain technology for global payments — making it easy for financial institutions to reach a trusted, growing network of 300+ providers across 40+ countries and six continents.” Uquid said in a blog post.
An example of the benefit that Uquid provides can be seen in developing countries, such as Indonesia. Consumers in Indonesia now have the ability to easily pay for a variety of insurance packages with the platform by using XRP.
The answer for startups and SMEs?
XRP is scalable, so small to medium businesses (SMEs) and startups could implement an international payment system without having to overcome all the hurdles of traditional financial markets.
Now it looks like XRP is accepted at online shopping portals, as well as major token exchanges, the use of the token could begin to ramp up.
With Uquid successfully completing a blockchain payment platform and receiving major support from its users, XRP could potentially be the answer to fast and efficient international payment for many businesses.
We might soon see corporations and financial institutions implement a similar system with XRP, or with their token of choice. Uquid is currently supporting payment via XRP, Bitcoin Cash, Uquid, Neo, Gas and Tether.
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