Japanese Payment Card Consortium & SBI Ripple Asia To Fight Fraud

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Japanese Payment Card Consortium & SBI Ripple Asia To Fight Fraud

  • Proof of concept (PoC) will share information together with nine credit card issuers and two payment-card technology providers
  • Companies will start sharing information on a real-time basis among related parties using blockchain
  • Information will only be shared among the participating card companies
  • The consortium will also consider sharing information with others, including merchants and payment service providers (PSPs)
  • By using blockchain, the consortium aims to improve the operational efficiency of participating companies
  • It also seeks to establish an effective settlement environment by improving the user experience