London Startup Develops Blockchain-Based Contactless Payment Card for Retail Payments

London Startup Develops Blockchain-Based Contactless Payment Card for Retail Payments

London-based FinTech company SETL, Metro Bank, and global accounting firm Deloitte, have teamed up to develop a contactless card to enable faster transactions and settlement times for retail payments on the blockchain, in a recent announcement. In an initial test more than 100 people used the contactless smartcards to make purchases from shops that had the contactless terminals equipped. The test was part of the Financial Conduct Authority’s (FCA) FinTech sandbox that recently unveiled the 24 names of the companies taking part. The advantage of the technology means that it sidesteps any....


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Quotes

There are more people in the world who need a currency they can trust than there are people in the world who can trust their currency.

Wences Cesares (Xapo CEO)