Share
Banks come together to test new payment technology

Banks come together to test new payment technology

Ulster Bank, AIB, Permanent TSB and Deloitte have come together to establish a pilot project that will explore new blockchain technology designed to improve the speed, resilience and security of the domestic payment systems.

Known as Project GreenPay, it will use technology developed in the UK by Royal Bank of Scotland, Ulster Bank’s parent company.

It has already been tested in Dogpatch Labs in Dublin, with the banks passing dummy payments to each other to test it for performance, accuracy and stability.

Leave a Comment

twelve − 8 =