While financial institutions are being targeted with this new initiative, Mastercard is also aiming to enhance the banking experience for end users. JPMorgan is entering the cross-border payments market with the release of its "safe, secure and auditable" blockchain application programme interfaces (APIs), enabling third parties to test their capabilities and improve the end-user experience. The move puts MasterCard in competition with Mastercard and IBM , which are both working on separate solutions to disrupt the cross-border payment infrastructure, a traditionally slow and complex system.
JPMorgan is entering the cross-border payments market with the release of its "safe, secure and auditable" blockchain application programme interfaces (APIs), enabling third parties to test their capabilities and improve the end-user experience. The move puts MasterCard in competition with Mastercard and IBM , which are both working on separate solutions to disrupt the cross-border payment infrastructure, a traditionally slow and complex system.