Mphasis, R3 join hands to develop blockchain-based payments solution

Mphasis, an Information Technology (IT) solutions provider specialising in cloud and cognitive services, on Tuesday announced its partnership with R3, a leading global enterprise software firm.

The two companies came together to jointly create innovative blockchain-enabled payment solutions and take them to market, said Mphasis in a statement.

The partnership will focus on the acceleration of ALTATM, the digital payments and supply chain finance ecosystem formed by Mphasis to connect global enterprises, their supply chains, and a wide range of financial services and infrastructure providers into a modern value transfer network for global trade, the statement read.