Mastercard says that its blockchain “facilitates new commerce opportunities for the digital transfer of value by allowing businesses and financial institutions to transact on a distributed ledger”.
Developers from places like banks and retailers are now free to access a core blockchain API, smart contracts API and fast pay network API, with Mastercard inviting them to experiment in areas P2P, P2M and B2B payments, as well as trade finance and supply chain.
The APIs are housed in the ‘new and experimental’ section of Mastercard’s recently launched gateway for developers, designed to increase the firm’s openness to new partners and technologies such as blockchain, which has at times been viewed with suspicion.
Visa is taking a slightly different approach. Last month it revealed that it is working with blockchain outfit Chain on the development of a near real-time funds transfer system for high value bank-to-bank and corporate payments.
First appeared at Finextra