Metro Bank tests smartcard payments on the blockchain

SETL, Deloitte and Metro Bank have successfully demonstrated a contactless blockchain smartcard retail payment system for 100 customers of the UK-based challenger bank. The project is part of SETL’s FCA Sandbox participation, which creates a ‘safe space’ in which businesses can test innovative products and delivery mechanisms in a live environment, while ensuring that consumers are appropriately protected. For the tests, SETL provided a contactless smartcard enabled blockchain allowing digitised payments, Deloitte exercised its blockchain ID system known as Smart Identity and Metro Bank hosted a connected client account. Read more: finextra.com