Mastercard could use blockchain to verify coupons

Mastercard has applied for a new patent that suggest the company wants to use blockchain technology to verify the authenticity of consumer coupons.

The application is for ‘Method and System for Authentication of Coupons via Blockchain’, which is pretty self-explanatory, and was published yesterday by the US Patent and Trademark Office.

Mastcard wrote: “This requires the entity to store data regarding coupons that are ssociated with transaction accounts, which can be resource-intensive and subject to data manipultion. In addition, the entity must offer a suitable interface for the consumers to access the data storage to identify what coupons have been associated with their transaction account.”

Mastercard has been working for a while on new ways to serve its customers using innovative tech, but its unclear whether this particular patent with lead anywhere.

“There is a need for a technological solution whereby coupons can be issued to an individual, and where the system relies on a publicly accessible data source to enable implementation without the use of additional resources for the issuing entity,” the company added.