Frii Pay & XRPL: Next-Gen Crypto Payment Solution

One of the promising players leveraging XRPL's payment capabilities is Frii Pay — a crypto-native payment solution, focused on widening access to low-cost, real-time digital payments at point of sale, and introducing the benefits of blockchain finance to mainstream businesses and consumers alike.

This case study explores how Frii Pay utilizes XRPL technology, its value proposition, and the business interest and traction it has achieved, serving as a model for payment businesses building on the XRP Ledger (XRPL).

How Frii Pay Utilizes XRPL Technology for Payments

Frii Pay’s core infrastructure is purpose-built on the XRP Ledger, leveraging its decentralized, fast, and scalable blockchain environment to deliver seamless payment experiences.

Key ways Frii Pay leverages XRPL

Stablecoin Payments: Frii Pay issues and supports multiple stablecoins (e.g. RLUSD) directly on the XRPL, ensuring price-stable crypto payments while maintaining high transaction speed and low fees.
Instant Settlement Layer: Utilizing XRPL's average settlement time of 3-5 seconds, Frii Pay enables real-time cross-border and domestic payments without intermediaries.
On-Ledger Tokenization: Frii Pay uses XRPL’s native tokenization features to issue coupons and loyalty rewards in the form of merchant-specific tokens or digital money, creating new and engaging consumer interactions by unlocking the programmable finance capabilities of the XRPL.
Real-time Currency Conversion: Frii Pay utilizes the XRPL’s Decentralized Exchange (DEX) to enable consumers to pay using any tradable currency in their wallet, while ensuring the merchant receives the exact currency and amount they have requested.
Compliance: Frii Pay’s architecture incorporates XRPL’s compliance-ready infrastructure, facilitating KYC/AML-integrated payment rails that can interact with traditional financial systems to on and off ramp funds for all users.

Benefits of XRPL for Payment Companies like Frii Pay

Frii Pay’s value proposition revolves around providing frictionless, stable, and cost-effective payment infrastructure to businesses, powered by XRPL.

In addition, the application leverages consumer spending data with the real-time, cross-border capabilities of XRPL to introduce new and interesting payment experiences that benefit merchants, consumers, and even brands.

Imagine spending $100 on a meal and having your $10 loyalty discount sent instantly to a wallet on the other side of the world to pay for a gift, medical treatment, or education.

How XRPL Adds Value to Frii Pay’s Crypto Payment Solution

Frii Pay abstracts blockchain complexity for businesses by providing merchant SDKs, customer-facing wallets, payment APIs, settlement & reconciliation dashboards. This allows merchants to accept crypto payments without technical blockchain expertise while tapping into XRPL’s efficiency. They have also expanded their solution to support payments online and via unattended kiosks.

Frii Pay's Business Traction and Impact with XRPL

Since the launch of its XRPL-based payment ecosystem, Frii Pay has achieved significant traction.

Key results of the partnership include:

Payment Terminal Compatibility: Frii Pay has developed its terminal software to be compatible with 50+ million existing card payment terminals worldwide.
Merchants & Acquiring Bank Relationships: Frii Pay has established relationships with a number of acquiring banks covering the UK and Europe to offer crypto acceptance, digital loyalty and digital couponing on XRPL alongside traditional card payments through existing POS terminals.
Merchant Network: In the UK, Frii Pay has established a network of over 900 merchants who can accept crypto payments once regulation allows.
Consumer Engagement: Frii Pay has initiated a program to educate 250 million university students worldwide on using digital wallets and digital currencies.
Student POC Deployment: Frii Pay has successfully launched a Proof-of-Concept (POC) with The University of Birmingham, providing students with a free mobile wallet powered by XRPL, offering coupons for free products, and loyalty discounts at merchants in and around the university campus. The service received 100% uptake by their pilot cohort, who have been providing feedback to refine the solution and will open up to all 40,000 students in the 2024-2025 academic year.
Merchant & Consumer Early Adopter Feedback Includes:
- A smooth transaction experience – validation only takes 3-5 seconds.
- Interest in new methods to engage with each other, pay, and get paid.
- Enthusiasm for saving and spending in digital assets or other currencies.
- A need for lower transaction fees offered by XRPL compared to card networks.
- Immediate settlement (seconds instead of days).
- Increased customer engagement via loyalty rewards issued on XRPL.

Driving Innovation in the Crypto Payment Ecosystem

Frii Pay illustrates the real-world use case of XRPL technology in payments. By building an accessible, stablecoin payment infrastructure on XRPL, Frii Pay has addressed the core challenges of legacy payment systems: cost, speed, transparency, and global reach.

To find out more about XRPL’s payment capabilities and start building, visit XRP Ledger Developer Resources.