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 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 IBM and JPMorgan, which are both working on separate solutions to disrupt the cross-border payment infrastructure, a traditionally slow and complex system.