Mastercard is the latest multinational to binge on blockchain.
Mastercard, the second-biggest payments multinational in the world after Visa, has revealed a set of three blockchain APIs in its developer site.
The offering of its own blockchain solution can be seen as Mastercard’s attempt to get ahead of the burgeoning pack of blockchain developers across the financial landscape.
The credit card giant showcases three API offerings. Its ‘Blockchain Core API’ provides a toolkit for adopters and users to run their own nodes while administrating participants in a blockchain network. The Smart Contracts API allows developers to write custom scripts using the language devised by the payments processor.
Aptly named ‘Fast Pay Network API’, Mastercard’s blockchain APIs will also mean real-time settlements. The offering could also mean an end to chargebacks, a scrouge of the credit card services industry, with its real-time reconciliation feature.
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