Mastercard to add Cryptocurrencies to Network in 2021 – IoV

Contents

MasterCard makes it easier for its customers to access cryptocurrency

MasterCard makes it easier for its customers to access cryptocurrency
CONTENT

  • MasterCard Launches New Debit Cards With Cryptocurrency Support

  • The payment system invites crypto projects for cooperation

  • PayPal, MasterCard and other payment systems support cryptocurrencies

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One of the largest payment systems in the world, MasterCard, has launched its own project aimed at popularizing cryptocurrencies. The company is ready to provide its users with unhindered access to cryptoassets.

Paying with cryptocurrencies will become easier

Global payment system MasterCard announced the launch of an acceleration program for cryptocurrency projects.

MasterCard makes it easier for its customers to access cryptocurrency

The main goal of the initiative is to popularize digital currency as a means of payment, as well as provide unhindered access to crypto coins for MasterCard users. The company is ready to issue special debit cards that allow you to convert cryptocurrencies into fiat money and pay with them anywhere in the world, provided that the terminal is connected to the MasterCard system. Thus, any user of cryptocurrency will be able to use it not only as an investment instrument, but also as a means of payment..

“The cryptocurrency market continues to evolve and Mastercard is moving it forward by creating a safe and secure environment for consumers and businesses in today’s digital economy,” said Raj Damodharan, Executive Vice President, Digital Asset and Blockchain Products and Partnerships, Mastercard.

The company is now accepting applications from cryptocurrency projects that are ready to take part in the MasterCard program. Wirex became the first partner and participant of the initiative.

MasterCard makes it easier for its customers to access cryptocurrency

Now the project can issue its own debit cards that will work in the MasterCard system. Consumers can instantly convert their cryptocurrencies into traditional fiat currency, which can be spent wherever Mastercard is accepted. Cardholders will also benefit from Wirex’s CryptobackTM cashback program, which automatically refunds customers up to 1.5% in Bitcoin for every purchase made in the store..

MasterCard focuses on cryptocurrencies

Note that this is not the first payment system initiative related to the use of cryptocurrency. Earlier, BeInCrypto reported that Mastercard decided to create its own division of cryptocurrency experts. The company published an announcement about the opening of a whole list of vacancies related to the development of a new cryptocurrency direction, which will presumably be engaged in the development of payment solutions based on blockchain technology. Applicants are required to have a thorough knowledge of digital currencies and blockchain systems. Based on the job descriptions, the company intends to develop new products and innovations, as well as manage blockchain products..

PayPal does not remain aloof from cryptocurrencies. Earlier, representatives of the company said that they are ready to launch their own crypto wallet, which will provide efficient storage and transfer of tokens.

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