The payment giant would be exploring the use of public Blockchains to securely verify payment cards at the point of sale, according to recently released documents.
According to a patent application filed with the United States Patent and Trademark Office (USPTO) and published yesterday, Mastercard has submitted a transfer and recovery process to verify user credentials of payment on a " block chain publicly accessible ".
By integrating this system with point-of-sale devices, Mastercard says that transactions would be secure, since it is not necessary to physically present the card and users should not worry because their payment credentials are stolen from the device.
Officially, MasterCard stated in the document:
The transaction can be carried out by displaying a machine readable code in the point-of-sale device, which can also prevent fraud and data theft, since the reading of said code can be controlled more easily by means of the control of the underlying screen. It is easily shielded and often darkens when it is in a pocket or purse.
Once again we see how a large and powerful company realizes how important and beneficial it is for its continuous development and security to adopt blockchain technology; It is automatically realize when entering the web and make a thorough review of the issues that have to do with the chain of blocks, that large companies, industries and entrepreneurs are betting to add to this process this technological revolution.
