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Author(s) : Dr. Garima Madaan, Ms. Pratibha Jha ISSN : 0974 - 497 Year : February 2018 | Volume : 12 | Issue : 1/4 Abstract: Cross border payments are complex in nature as a general rule as there are different parties, different currencies, different regulations, different technologies and many sub transactions involved to complete a cross border transaction. There exists various formal, semi-formal and informal channels for cross border payments and numerous technologies have been adapted to facilitate these transactions. After Globalization and due to continuous technological advancements, these transactions are becoming more and more important. Therefore, there is an increasing interest to understand the technological innovation facilitating international payments as it is revolutionizing and reshaping the financial service providers’ facilities and business. This paper examines the literature to study the concept of cross border payments, to review the very popular and much talked about technology these days i.e. blockchain technology in context with cross border payments and to review the early mover XRP, a product of Ripple supporting cross border payments. Also, in this article, we will discuss the benefits and challenges of implementing blockchain technology and will explain how public and private platforms are integrating this technology. Download File Download File Open File