Merchants, banks, fintechs and card networks may crave digital payments' treasure trove of data over cash's simple anonymity, but any weakness in a centralized ecosystem threatens the entire network, as Visa learned late last week.
American Express is putting its involvement in the Hyperledger Project to the test, deploying blockchain technology with Boxed to enable the digital warehouse merchant to customize a rewards plan for Amex cardholders.
Blockchain's potential for revolutionizing the world’s payment systems has captured the imagination in recent years, and last month Santander became the U.K.'s first bank to use the technology to create a new international payments service.
Fintechs attending Consensus 2018, the annual cryptocurrency event, said they found promise for a market still trying to find a path to unified operations and wider acceptance within financial services.
Robotics and automatically triggered transactions will pressure how data is collected and made trustworthy enough to be actionable, according to Raphael Davison, worldwide director of blockchain for Hewlett Packard Enterprises.