Today The Nikkei reported that major Japanese credit card firm JCB is working on a blockchain B2B payments solution specifically for netting bilateral transactions.
By netting payments and receipts, intercompany payments are for lower values, as are the associated transaction costs. The card provider is partnering with local firm LayerX for the solution.
Details were a little thin on the ground but referred to the integration with corporate ordering systems and accounting software. We’ve reached out to LayerX for additional information and will update the story.
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