Mastercard Joins Forces with Crypto Platform MoonPay to Innovate Web3 Experiences
Summary:
Mastercard has teamed up with crypto payment platform MoonPay to explore the potential of Web3 tools for enhancing experiential marketing and finding new ways to interact with clients. As part of the collaboration, MoonPay will integrate products and tools from Mastercard, including "Click to Pay," Mastercard Send, and Mastercard Crypto Credentials, to strengthen compliance and trust in the Web3 sector. The goal is to extend Mastercard's payment facilities into the realms of Web3 and non-fungible tokens. The partnership was not yet officially announced by Mastercard.
Leading worldwide payment firm, Mastercard, is further investigating the potential of cryptocurrencies through its fresh team-up with the cryptocurrency payment service MoonPay. On October 25, MoonPay revealed its alliance with Mastercard, with the intention to jointly study how Web3 instruments could augment experiential marketing and devise novel methods to interface with Mastercard's clientele. The news was also made public on X (previously known as Twitter) stating that Keith Grossman, enterprise president of MoonPay, and Raja Rajamannar, Mastercard's foremost marketing and communications officer, unveiled this cooperation at Money20/20 event, Las Vegas.
The partnership announcement between Mastercard and MoonPay was also shared on X (previously Twitter). In addition to crafting innovative Web3 consumer interactions, MoonPay also intends to integrate Mastercard's solutions and offerings to further enhance trustworthiness and adherence in the Web3 sector. As part of its payment solution strategy, MoonPay will specifically leverage Mastercard's tools, including "Click to Pay," Mastercard Send, and Mastercard Crypto Credentials.
Mastercard's Web3 marketing figure, Adam Polansky, appreciated the collaboration and expressed his excitement for future prospects. "We’re indebted for this partnership and thrilled about what is in store," added Mastercard's partnership executive Elizabeth Taylor.
At the time of this report, Mastercard had not made an official announcement regarding this development and did not immediately respond to requests for comments from Cointelegraph. In recent years, Mastercard has actively ventured into the blockchain and cryptocurrency arenas, incorporating multiple industry-specific products onto its platform. In 2022, Mastercard launched an innovative scheme enabling banks to provide their clients with crypto trading capabilities in collaboration with Paxos. Further, Mastercard has teamed up with Coinbase and MoonPay to extend its payment facilities into the realms of Web3 and non-fungible tokens.
Published At
10/26/2023 8:16:18 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.