Barclaycard, a division of Barclays Bank UK, is joining hands with Crowdz, a blockchain startup, to digitize the b2b supply chain. Per the signed agreement, Barclaycard’s payment gateway will be integrated with the blockchain platform of Crowds.
Once that is done, the platform will be tested using pre-screened clients to determine the impact on their business operations.
The platform will be then reworked to suit real-world needs. The process is expected to continue for about 6 months, with level of satisfaction determined on the basis of buyer and seller’s experience, viability of the platform, and the overall quality of the commercial model. The platform will be introduced commercially, if the test satisfies all the necessary criteria.
Notably, earlier this year, Crowdz joined Barclay’s 2018 Accelerator program introduced to fast-track the new age fintech businesses and offer scope for applications that can be implemented at Barclays. Upon completion of the program, the payment company signed the above-mentioned agreement with Crowdz to enable the startup convert its proof-of-concept into a fully operational system.
Barclaycard is both credit card and payment services provider. The firm assists clients, retailers and business establishments to receive and remit payments, and to access short-term credit and point of sale finance.
Barclaycard, a division of Barclays Bank UK, is a credit card and payment services provider. It helps consumers, retailers and businesses to make and take payments, and to avail short-term loan and point of sale finance.
