Banco Santander is partnering with Ripple to roll out distributed ledger technology (DLT)-based payments for individuals over the coming months.

According to the bank’s Q4 2017 results, Santander will be launching same-day mobile international payments in “three clicks and 40 seconds” for retail customers in Q1 2018. The service will initially go live in four countries: Spain, Brazil, the United Kingdom and Poland.

The bank described the solution as a mobile digital wallet that features a personal finance manager and same-day international payments, as well as P2P payments.

Santander previously announced a partnership with Ripple in 2015, becoming the first UK bank to introduce blockchain technology for international payments through a mobile app. At the time, Sigga Sigurdardottir, head of customer and innovation at Santander, said: “The need for finance has evolved from providing a physical pound in your pocket or card in your purse, where you pay at a till, to being seamlessly integrated into a new, always on, connected lifestyle.

“At Santander we work hard to ensure our banking is simple, personal and fair and believe new blockchain technology will play a transformational role in the way we achieve our goals and better serve our customers, adding value by creating more choice and convenience.”

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