米SendFriendがフィリピン向け送金経路から米Ripple社のxRapidを採用へ Translation: SendFriend from Japan will adopt Ripple's xRapid for remittance routes to the Philippines
Fees Reduced to Half or Less
The SendFriend app aims to launch its payment products using xRapid, targeting a winter launch between 2018 and 2019. It will start from New Jersey, USA, with Philippine payment channels, and expand to other states as licenses are obtained.
According to SendFriend’s CEO David Lighton, xRapid delivers a new level of efficiency. The average fees charged by traditional international remittance firms are about 7%, while SendFriend’s fees are limited to about 2.5% to 3%.
David said that while he was working at the World Bank, he learned how difficult it is to send money to a country during emergencies. He founded SendFriend at MIT. David stated the following;
“We can make our capital more efficient on the back end. Because these are real-time settlements, we do not need to fund in advance, and there is no need to keep money in the recipient’s pool to manage foreign exchange risk. As transactions progress, we can execute them one by one.”
