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23 September 2019

Mastercard Partners with R3 for Blockchain Cross-Border Payments

Mastercard Partners with R3 for Blockchain Cross-Border Payments


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Mastercard, a global payments service provider has joined forces with R3, the creator of enterprise-grade distributed ledger technology (DLT) solutions, to develop a blockchain-based cross-border payments platform to enable banks and other financial institutions facilitate frictionless and cost-efficient international payments, according to a press release on September 11, 2019.

Commenting on the partnership with R3 and the creation of a highly functional business-to-business (B2B) blockchain solution for cross-border payments, Peter Klein, executive vice president of New Payment Platforms for Mastercard, reiterated that the firm is determined to build innovative international payments platforms and the collaboration with R3 will make it possible.

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