AmEx is considering the use of a blockchain as the prove of the payment

The American Express financial company (AmEx) filed a patent application with the US Patent and Trademark Office for a payment evidence system using the blockchain.

The application of the subsidiary American Express Travel Related Services describes the system for obtaining a "confirmation of payment, including the transaction amount and the trade identifier."

The document emphasizes the role of technology in preserving "transaction data, contract, payment documents, identification data and/or other information at will." At the same time, the blockchain network, possibly public, will serve as an additional level of proof of the transaction conducted on the AmEx network.

According to the application, the data can be used for "booking a hotel, renting or sharing a property using a card (for example, the one through which it was paid) to find evidence of payment on the blockchain." In addition, "the system can be used to provide free-lance customers access to places (for example, in a movie theater, a sporting event, a concert, etc.).

Last fall, American Express has already patented the concept of using blockchain in loyalty programs. In May, the company began testing an application based on Hyperledger from the Linux Foundation, which allows rewarding cardholders for purchasing goods in the stores of its partners. In addition, in November last year, AmEx, in partnership with the Spanish bank Santander, launched a system of instant transatlantic payments based on Ripple's blockchain technology.

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Posted from my blog with SteemPress : https://coinatory.com/2018/07/17/amex-is-considering-the-use-of-a-blockchain-as-the-prove-of-the-payment/

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