Published On: Thu, Jun 14th, 2018

Western Union Pilot too Small to Get Results From Ripple

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Western Union says it has found no saving by using Ripple’s XRP for transactions while Ripple responded that Western Union hasn’t made a proper case study.
No Savings with XRP
Ripple has pegged its reputation and that of its cryptocurrency, XRP, to the fact that it is a faster, cheaper way to move money across borders. This is the reason that Western Union decided to text the currency using Ripple’s xRapid product but says so far it has seen no savings. CEO Hikmet Ersek told Fortune magazine that,

“We are always criticized that Western Union is not cost-efficient, blah blah blah, but we did not see that part of the efficiency yet during our tests. The practical matter is it’s still too expensive,”

Ersek added that the company is only interested in using XRP if it can cut costs. The loss of Western Union as a client could be a major set back for Ripple but the company has pointed out that the Western Union’s test case is too small to make any conclusive judgments.
In fact, Western Union has only tried XRP in ten transfers …

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