Mastercard Labs executive vice president Ken Moore, said: “By combining Mastercard blockchain technology with our settlement network and associated network rules, we have created a solution that is safe, secure, auditable, and easy to scale.” MasterCard is entering the cross - border payments market with the introduction of its " safe , secure and auditable " blockchain application programming interfaces ( API ) , enabling third parties to integrate their products and improve the end - user experience . The move puts Mastercard in competition with IBM and JPMorgan , which are both working on separate solutions to improve the cross - border payment infrastructure , a traditionally slow and complex system .
MasterCard is entering the cross - border payments market with the introduction of its " safe , secure and auditable " blockchain application programming interfaces ( API ) , enabling third parties to integrate their products and improve the end - user experience . The move puts Mastercard in competition with IBM and JPMorgan , which are both working on separate solutions to improve the cross - border payment infrastructure , a traditionally slow and complex system .