Mindtree launches Blockchain-Powered Merchant On-Boarding Solution for Banks

Mindtree launches Blockchain-Powered Merchant On-Boarding Solution for Banks

Sep 18, 2019 06:09 IST capital market

Mindtree announced the release of its Merchant On- Boarding solution for acquirer banks and payment service providers. It uses Hyperledger fabric Blockchain technology to enable these financial institutions that facilitate credit card or debit payments to more quickly, seamlessly and securely onboard merchants as customers. Mindtree will debut its Merchant On-Boarding solution at PayThink 2019 on September 18-21, 2019 in Los Angeles, CA.

Mindtrees Merchant On-boarding solution is developed on a Hyperledger fabric channel - which is a private distributed ledger framework for communication between members for all merchants that ensures secure and private sharing of document approval and information between all dependent stakeholders. Blockchain offers capabilities to enable transactions to be authenticated and authorized, securely and transparently. This ensures that data is transmitted within a secure network and accelerates information sharing across all parties, ensuring data is protected.

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