Metro Bank , London and Setl , a blockchain start - up , have developed a contactless payment card using distributed computing technology . He said the trial had proven scale, capacity and regulation – including KYC and AML – were not an issue. Having already been developed by 100 people as part of the Financial Conduct Authority 's fintech sandbox , the card uses Microsoft ’s Microsoft Identity to identify users and then payments are processed over Setl 's blockchain .
Metro Bank , London and Setl , a blockchain start - up , have developed a contactless payment card using distributed computing technology . Having already been developed by 100 people as part of the Financial Conduct Authority 's fintech sandbox , the card uses Microsoft ’s Microsoft Identity to identify users and then payments are processed over Setl 's blockchain .