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FleetCor, Ripple team up to use blockchain technology for payments

FleetCor Technologies Inc. has teamed up with Ripple, a blockchain solution provider, and Cambridge Global Payments, a FleetCor-owned business-to-business payments provider, to launch a pilot program.

Under the agreement with Ripple, Cambridge will pilot the use of XRP, the native digital asset of the XRP ledger, in payment flows through xRapid, Ripple's solution for on-demand liquidity.

The xRapid pilot program builds on an existing relationship between Cambridge and Ripple which has been exploring similar advantages of xCurrent, Ripple's enterprise software for messaging and international transaction settlement. XCurrent allows financial institutions to communicate information about a payment between each other in real-time, and settle the payment instantly.