AmEx starts using Hyperledger Blockchain for its rewards program – Crypto-News India

By Vignesh S.      May 24, 2018

American Express, one of the world’s largest financial services company popular for their Charge cards and Credit cards will now be using Blockchain to power their rewards program. AmEx has piloted a program which will allow merchants to reward customers for specific actions or purchases. This system will run on the open-source hyperledger blockchain and online merchant Boxed will be the first to make use of it.

Currently, credit card companies have been able to reward users when they spend at particular types of merchants with the merchant code. However, with the new system AmEx has deployed, merchants will be able to reward users when they pay for specific items.

With the help of Blockchain technology, AmEx will be able to easily track specific purchases made by users and partner with merchants to better promote products. The merchant may use this to promote a slow moving product in their store by bundling it with a reward.

More at: AmEx starts using Hyperledger Blockchain for its rewards program – Crypto-News India

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