MoneyGram teams up with cryptocurrency Ripple on ‘payment flow’ project

By Eric Brackett January 14, 2018

ripple joins moneygram how to buy bitcoin litecoin dogecoin — Image used with permission by copyright holder

Last week, we reported on a rumored partnership between Ripple and Western Union. That remains unconfirmed, but Business Insider has reported that Ripple and MoneyGram have teamed up. The project is still in its infancy, but MoneyGram hopes to use Ripple’s cryptocurrency, known as XRP, in its “payment flows.”

Companies such as MoneyGram use pre-funded accounts to handle payments, but this process is often slow and can tie up funds for longer than is ideal. MoneyGram’s Alex Holmes told Bloomberg that he was hopeful that the use of Ripple’s blockchain technology could speed up the process of transferring funds.

“Ripple is at the forefront of blockchain technology,” Holmes said. “We’re hopeful it will increase efficiency and improve services to MoneyGram’s customers.”

It remains to be seen as to whether or not MoneyGram will actually adopt XRP, but Ripple has had some success in this area before. It currently offers quick and affordable money transfers to users on different continents. Ripple’s fees are lower than traditional services and cryptocurrency rivals such as bitcoin, because it employs several middlemen to expedite and simplify the process.

The full details of this plan have not yet been revealed, but MoneyGram’s partnership with Ripple highlights the changing nature of money remittance services such as Western Union and MoneyGram. Currently, so-called legacy providers remain a dominant force in this industry, but digital competitors such as Ripple are starting to catch up. One only needs to look at the fate of Blockbuster Video to see the dangers of ignoring the shifts in a changing market.

In addition to being faster than traditional services, XRP could also disrupt this industry by being more affordable. Digital-first companies have the competitive advantage of not having to pay as high costs as their brick-and-mortar rivals. They’re able to pass those savings on to consumers making them an attractive option for the money-conscious.

The longterm success of this plan remains to be seen, but the short-term has turned out well for both companies. MoneyGram saw its stock rise by 10 percent. Ripple saw an increase of four percent during the same time period.

Topics

Former Digital Trends Contributor

Computing

Power up your tech game this summer with Dell’s top deals: Upgrade for a bargain

Dell Techfest and best tech on sale featured.

One of the best times to upgrade your tech stack, be it your desktop, a new laptop, or some high-resolution monitors, is when great deals are to be had. Well, I'm here to share that thanks to Dell's top deals, you can power up your tech game and have most of the summer to make it happen. Maybe you're happy with your current system or setup. That's excellent, but you're likely considering upgrading somewhere, and that's precisely what these deals are all about. Dell has a smorgasbord of deals on laptops, desktops, gaming desktops, monitors, accessories, and so much more. We'll call out a few of our favorite deals below, but for now, know that you should be shopping this sale if you're interested in anything tech-related.

What summer tech should you buy in Dell's top deals?

Computing

I love the MacBook Pro, but this Windows laptop came surprisingly close

Apple MacBook Pro 16 downward view showing keyboard and speaker.

There are some great machines in the 15-inch laptop category, which has recently been stretched to include the more common 16-inch laptop. The best among them is the Apple MacBook Pro 16, which offers fast performance for tasks like video editing and the longest battery life.

The Lenovo Yoga Pro 9i 16 is aimed not only at other 16-inch Windows laptops but also at the MacBook Pro 16. It offers many of the same benefits but at a lower price. Can it take a place at the top?
Specs and configurations

Computing

How to set an ‘Out of Office’ message in Microsoft Teams

Person using Windows 11 laptop on their lap by the window.

Many people use Microsoft Teams regularly to communicate with colleagues both inside of the office and remotely. It is considered one of the most efficient ways to ensure you can stay in contact with the people on your team, but what if you need to let people know you’re not readily available? Microsoft Teams has a method for you to set up an "Out of Office" status for your profile to let staff members know when you’ll be gone for the afternoon, for several days on vacation, or for an extended period.
Where do I go to set up my ‘Out of Office’ status for Teams?
It is important to note that your Microsoft Teams and Outlook calendars are synced. This includes your out-of-office status and automatic replies. So, whatever you set up in Microsoft Teams will reflect in Outlook. Similarly, you can set up your out-of-office status in Outlook, and it will be reflected in Teams; however, the former has a more straightforward instruction.

First, you can click on your profile icon in Teams and go directly to Schedule an out of office, as a shortcut. This will take you to the settings area where you can proceed. You can also click the three-dot icon next to your profile icon, then go to Settings > General, then scroll down to the bottom of the page. There, you'll find out-of-office settings and click Schedule.