Visa's New Debit Card Rumored to Use XRP for Payments

Alo Kingsley   Sep 12, 2019 00:00

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According to an announcement made yesterday, Moneygram had liaised with Visa with plans to launch a peer-to-peer debit card service. This was made known in the details of the recent news of the acquisition of payment service operator MoneyGram by Ripple. There was a lot of anticipation by the XRP community that this debit card might make use of XRP token for fast transfers. 


Head of MoneyGram, Alex Homes said that with this new collaboration, they intend to create the best platform that provides ease and best user experience for sending and receiving money across the globe. Currently, the US is the only country the Debit card is available in.


Visa and MoneyGram are making plans to extend the reach of the project to other regions as well. There seem to be reasons to believe that XRP could be adopted as a payment method, given the link-up between MoneyGram and Visa, with Ripple being affiliated with the former.


MoneyGram currently makes use of Ripple's xRapid to make payments around the globe using XRP as a means of payment when it goes beyond the US. However, Ripple has not made any comments/remarks regarding these speculations.


Image via Shutterstock

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