Published
5 years ago on
October 04, 2018
“Borrow an amount as low as ₹ 3,000 from your personal line of credit with MoneyTap. Interest rates are applied only on the amount you borrow and not your entire approved limit. MoneyTap credit card brings you attractive rewards on the very first swipe along with discounts on food, fuel, and entertainment.”After registration, users will allegedly just need their mobile phone numbers or a QR code to complete transfers in either foreign currencies or Japanese yen without any commission fee. The payment system will be secured using the devices’ inbuilt technology for security such as systems which use fingerprint scanning. The last obstacle prior to the launch of MoneyTap was cleared at the end of last month after SBI Holdings announced that it had secured a license from regulators in Japan to deal with electronic payments as an “Electronic Settlement Agency Service Provider” under legislation rolled out in March of last year. Earlier announcements revealed that MoneyTap will eventually see a consortium of over 60 banks from Japan - “representative of more than 80% of all Japan’s banking assets, participate in the service.”In different jurisdictions around the world, the Spanish based banking group Santander announced in March earlier in the year that they would release cross-border payments in the form of a mobile app using the Blockchain from Ripple xCurrent and RippleNet platforms. What are your thoughts? Let us know what you think down in the comments below!References:MoneyTapCoinTelegraph Investment Disclaimer
