Visa and Mastercard are both working on cryptocurrency initiatives, and could encourage more adoption if they offered crypto reward programs on a wider basis.
Mastercard News
Mastercard Worldwide, or Mastercard incorporated, is an international payment system and transnational financial corporation that unifies 22,000 financial organizations in 210 countries around the world. The company was founded in 1966 with the merger of several Californian banks to compete with Bank of America, which currently works with Visa — Mastercard’s main opponent. The company is currently headquartered in New York and Mastercard’s CEO is Ajaypal Singh Banga. The main activity of Mastercard is the processing of payments between the acquired banks, which serve as the place of trades, and other credit corporations that use Mastercard’s debit and credit cards. The Mastercard association is aimed at managing the business, promoting the brand, and developing and implementing new technologies, such as a contactless way of making payment called PayPass.
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A new project aims to address the scalability issues of crypto debit cards to increase crypto adoption.
21723Crypto debit cards aren’t new. But Visa supports several cryptocurrencies across an enormous network. “That’s a big deal,” said economist William Luther.
2700The digital tenge has been used for everything from free school lunches to tokenizing gold, and there’s more to come.
10115Digital personalization company Dynamic Yield by Mastercard was purchased from McDonald’s in 2022.
1912Mastercard announced it will integrate a new AI tool to detect and prevent fraud routed through cryptocurrency exchanges.
3196Dtcpay, formerly Digital Treasures Center, is MAS-registered and already provides some point-of-sale and online crypto payment services.
5725MoonPay has announced a partnership with Mastercard, targeting Web3-based experiential marketing or new ways to connect with Mastercard’s consumers.
5795Wirex first launched its crypto debit card in 2015 and currently claims over six million customers.
3414The card is only available to citizens of the 30-country European Economic Area.
4912Visa also reportedly stopped issuing new co-branded cryptocurrency cards with Binance in Europe as of July.
4734The payment processor has enlisted a range of market players in its quest for innovation and efficiencies in a technology that 93% of central banks are investigating.
25741Mastercard revealed a new AI-driven tool available to banks for collecting insights to predict scams and frauds involving real-time payments.
13300Despite negative sentiment toward crypto adoption in the United States, Consensus 2023 attracted thousands of attendees to discuss the potential of blockchain technology and cryptocurrency.
1902Mastercard’s new solution revolves around providing “secure transactions between users, verified according to standards” set by the company.
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