In the media

Blockchain technology in payments

By Aaron Hurst

Information Age

28 September 2023

PA Consulting's Joachim Keittelmann Bjørke and Chloe Harrison-Steward, blockchain experts, discuss blockchain technology in payments in an article by Aaron Hurst in Information Age

Commenting on cryptocurrencies, Joachim says: "Cryptocurrencies can provide additional payment options for merchants, which in some cases has led to an additional 3 to 5 per cent of revenue. They may also provide transaction cost savings as credit card companies may charge up to 2.5 per cent transaction fee and blockchain can offer 0.1% or less in transaction fee."

Chloe talks about how to maintain customer experience, and says: "Having this in place avoids repetitive and manual verification process while still providing a secure, immutable audit trail of activities, decreasing operational costs. However, there needs to be careful consideration for responsible handling of customer personal data."

Read the full and original article in Information Age

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