November 16, 2017 / 2:51 PM / a month ago

American Express unveils blockchain-enabled payments

(Reuters) - American Express SXP.N on Thursday said it was working with Ripple, a blockchain solutions provider, to enable cross-border payments in partnership with Santander UK.

The card issuer said its foreign exchange international payments business will make blockchain-enabled payments available to its customers, which will help reduce the time and cost of settlement. (reut.rs/2j1YmgG)

    The Ripple network will help connect U.S. customers to the UK, Amex said.

    Santander UK is a financial services provider in the UK, wholly-owned by Spanish Santander Group (SAN.MC).

    Reporting By Aparajita Saxena in Bengaluru; Editing by Martina D'Couto

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