MasterCard is trying to build an Instant Payment Solution on Blockchain

U.S. Patent Application 20170323294  for “a method for processing a guaranteed electronic transaction” specifically mentions the blockhain. Here is how it is described in the application:

“The present disclosure relates to the use of recorded guarantees for payment transactions for verification by acquiring institutions to facilitate instantaneous payment to a merchant involved in the payment transaction, specifically the use of a blockchain or other third party network for verification of a guarantee associated with the payment transaction.”

The applicant for the application; dated May 6, 2016, was MasterCard International Incorporated of Purchase, New York. Get the picture folks MasterCard is trying to create a blockchain-based solution for instantaneous payment.