Bahrain's leading payment gateway SADAD adopts Ripple's xRapid for cross-border payments
SADAD, the company that touts being Bahrain's "most trusted payment channel" has adopted Ripple's recently released xRapid to facilitate faster and more convenient cross-border payments. One of the most commonly used payment gateways in Bahrain, SADAD has won several awards in its relatively brief existence.
xRapid is a new payment channel by Ripple that uses the company's homegrown XRP tokens to establish a so-called "bridge" by different currencies, which in turn, makes it possible for banks and payment providers process cross-border transactions faster and with greater efficiency.
As of today, SADAD's payment platform has been deployed by a number of top telecom companies, the Touch and Remit service (for transferring money to India), as well as the Ministry of Electricity and Water. Additionally, the company also has ties with a number of popular technology and e-commerce platforms including Google Play, Xbox, PlayStation Network, Amazon, and eBay, among others.
SADAD has more than 750 kiosks across Bahrain, which enable partners to extend convenient payment methods to their respective customers. Other than kiosks, the company also offers a dedicated app and a feature called Online Express Payment.