• Mon, 14 Oct 2019, 03:43 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Japan-based Resona Bank backs out of Ripple-powered Money Tap app

Fri, 12 Apr 2019, 11:05 am UTC

Japan-based Resona Bank has announced that it is cancelling its cooperation with the Ripple-powered payments app, Money Tap.

Launched last October by SBI Ripple Asia – a joint venture between Ripple and SBI Holdings, Money Tap offers real-time settlement for domestic payments in Japan. It uses xCurrent – Ripple’s enterprise software for messaging and international transaction settlement.

Using MoneyTap, users can send funds to others using their mobile phone number or QR code without knowing the other party's account number. The app uses devices biometric authentication, such as fingerprint scanning, for ensuring security.

According to the official website, Money Tap is supported by three Japanese banks – SBI Sumishin Net Bank, Suruga Bank, and Resona Bank – so far, with plans to expand to more than 60 banks.

However, in an announcement dated April 11, Resona Bank said (via online translation):

“Resona Bank will cancel the cooperation with the money transfer application "Money Tap" which started on October 4, 2018 on May 13, 2019.

“We will continue to improve our service further in the future, so we ask for your understanding.”

The bank did not reveal the reasons behind its decision.

SBI Ripple Asia is registered with the Kanto Local Finance Bureau as a licensed agent for handling electronic payments.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,316.31 (-1.38%)
  • Ethereum (ETH) $183.36 (-0.60%)
  • XRP (XRP) $0.290200 (+3.80%)
  • Bitcoin Cash (BCH) $225.81 (-0.67%)
  • Litecoin (LTC) $56.73 (-1.24%)
  • Bitcoin (BTC) $8,316.31 (-1.38%)
Oct 14, 2019 (Monday)
12:06
BMW, Ford, GM and others working on proof of concept for blockchain-based vehicle identity system
12:01
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:01
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
10:49
Crypto Technicals: LTC/USD finds stiff resistance at 21-EMA (58.62), breakout confirms further upside
10:46
G7 says global stablecoins like Libra pose threat to financial stability: Report
09:52
Global stablecoins could become systemically important: Financial Stability Board Chair
09:37
Crypto Technicals: Ripple (XRP) spikes higher, hits 4-week high (0.29369), bias bullish
09:07
Crypto Technicals: ETH/USD consolidates above 200H SMA, intraday bias turning bullish
07:01
U.S. IRS wants to know your crypto ownership in updated income tax form
06:59
U.S. SEC, CFTC, FinCEN issue rare statement warning crypto users to abide banking laws
06:56
Crypto Valley Association joins International Digital Asset Exchange Association
06:17
Crypto Technicals: BTC/USD extends sideways above 200H SMA support (8277), weakness likely on break below
06:17
tZERO and Box Digital-owned firm files with SEC to launch regulated security token market
06:10
Blockchain trade finance network Marco Polo pilots first trade transactions between Russia and Germany
06:08
Crypto exchange Coinbase secures e-money license from Central Bank of Ireland
04:30
World Federation of Exchanges urges UK FCA not to ban sale of crypto derivatives to retail investors
04:25
Telegram may postpone Gram token launch after SEC stops U.S. crypto sale
04:05
Mastercard, Visa, eBay, Stripe, Mercado Pago abandon Facebook-led Libra Association
Oct 11, 2019 (Friday)
13:27
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
13:11
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft