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MasterCard


Payment services giant Mastercard is looking at the use of blockchain for keeping track of consumer payments, newly published patent filings suggest. In a series of largely similar patent applications published last week by the U.S. Patent and Trademark Office, Mastercard outlines how a distributed ledger can be used to record “point-to-point transactions” as they …

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Payments giant Mastercard suffered a severe outage last week that led to a hold-up in transactions. As reported on July 12 by the Financial Times, it had a global impact, sparking a round of complaints from the payment firm’s customer base. As might be expected, those affected quickly took to social media to voice their frustration …

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Payments giant Mastercard may be looking to speed up cryptocurrency transactions by designing a payments system that will link accounts holding both fiat currency and cryptocurrencies, according to a newly-published patent. The document, published today by the U.S. Patent and Trademark Office (USPTO), explains that though cryptocurrencies have “seen increased usage over traditional fiat currencies …

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Payments giant Mastercard is exploring the use of public blockchains in securely verifying payment cards at the point of sale, public documents show. According to a patent application filed with the U.S. Patent and Trademark Office (USPTO) and released on Thursday, Mastercard has come up with a conveyance and retrieval processes to verify users’ payment credentials …

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A new patent application from Mastercard suggests that the payments giant is eyeing blockchain as part of a way to verify the authenticity of consumer coupons. The application for a “Method and System for Authentication of Coupons via Blockchain” was published on May 31 by the U.S. Patent and Trademark Office (USPTO). It envisions utilizing …

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Moves by major banks to ban their customers from using their payment cards to buy cryptocurrencies led to a dip in cross-border transaction volume during the first quarter of 2018, Mastercard’s chief financial officer said Wednesday. Martina Hund-Mejean said that the company’s cross-border payments volume rose 19 percent during the first part of 2018 overall …

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Payments giant Mastercard wants to patent a way to quickly add new nodes to a blockchain network, new filings reveal. In a patent application published Thursday by the U.S. Patent and Trademark Office, the company outlines a method by which nodes can connect with and verify the contents of a particular blockchain. Per Mastercard, the …

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The Department of Justice has unveiled fraud charges against another co-founder of cryptocurrency startup Centra, a move that comes weeks after two other founders were arrested and charged. The U.S. Attorney’s Office for the Southern District of New York said Friday that Ray Trapani has been arrested and charged in connection with the company’s token …

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A newly published patent filing from Mastercard suggests that the payments giant is looking at blockchain as a way to safeguard identity data. In an application released by the U.S. Patent and Trademark Office (USPTO) last Thursday, Mastercard describes a system in which a semi-private or private blockchain would be used to receive and store …

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Payment giant Mastercard announced Thursday that it was hiring 175 new technology developers, including blockchain specialists. The developers will work out of Mastercard’s office in Leopardstown, Ireland, where the firm’s research and development arm, Mastercard Labs, is headquartered. The new hires will work on creating more efficient payment systems, according to a press release. Sonya …

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MasterCard is receptive to the idea of using central bank-issued national digital currencies in the future, according to the co-president of Mastercard’s Asia-Pacific business, the Financial Times reported today, March 19. Senior MasterCard executive Ari Sarker told the Financial Times that “if governments look to create national digital currency we’d be very happy to look …

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ING, the Dutch financial group, has announced the creation of a new financier-friendly anonymous proof called a ‘Zero-knowledge range proof,’ or ZKRP for short. The risks of security and privacy for financial institutions have kept many out of the Blockchain technology market. Anonymity is key The new proof is designed to maintain anonymity while still …

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In a move that will likely spell huge increases in Blockchain technology, one of the ‘big four’ audit firms, KPMG, has signed on as a corporate member of the Wall Street Blockchain Alliance (WSBA). The announcement was made public via the WSBA website. With the membership, KPMG will also receive a seat on the board of …

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Mastercard has recently filed a patent for instantaneous payments using Blockchain technology. The patent appeared in the US Patent and Trademark data system dated the 9th of this month. The patent makes clear that Mastercard intends to use Blockchain technology to create a system where merchants can receive guaranteed instantaneous payment rather than waiting for …

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New patent filings from Mastercard show how the credit card giant is looking at blockchain as a possible means for easing payment settlement times. In a patent application released last week by the U.S. Patent and Trademark Office, the company describes a blockchain-based database capable of instantaneously processing payments, guaranteeing that merchants do not need …

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