Temenos, a Swiss-based banking software house, has signed a contract with online payments processor PayPal, with the news giving rise to commentary on social media that the move could sow the seeds of an eventual Ripple-PayPal partnership.
Already in partnership with Ripple, Temenos handles responsibility for the deployment of xRapid – a cross-border payments solution released by Ripple back in September – amongst its own banking clients. As a result, some observers believe that its new partnership with PayPal represents an opportunity for the integration of xRapid as a PayPal-hosted payment method.
“Pure Speculation”
“The connection that is being made by some on social media between Temenos and PayPal is pure speculation at this stage. There is nothing to indicate that xRapid – a remittance system – would necessarily make a good fit for PayPal, particularly as it would undermine PayPal’s current business model which relies specifically on relatively high fees, above all when moving money between different currencies – but it does represent a positive development in the sense that it may one day act as a bridge between PayPal and Ripple” states crypto market analyst Ali Yazbek in conversation with ICOExaminer.
Nor has there been any formal acknowledgement from PayPal itself on Temenos’ connection with the xRapid solution, indicating once more a predilection amongst some in the crypto-community for tenuous connections and unsubstantiated rumour.
Temenos’ Cloud solution is expected to be rolled out by PayPal across its operations in the US, Germany and Australia over the coming months.
