Collaboration to Explore Crypto Benefits and Enhance Consumer Experiences
Global payment giant Mastercard is continuing its foray into the world of cryptocurrencies through a new partnership with crypto payment platform MoonPay. The collaboration aims to leverage Web3 tools to improve experiential marketing and connect with Mastercard's consumers in innovative ways.
In an announcement made on October 25, MoonPay revealed its partnership with Mastercard. The announcement was made by MoonPay's enterprise president, Keith Grossman, and Mastercard's chief marketing and communications officer, Raja Rajamannar, at the Money20/20 conference in Las Vegas.
As part of the partnership, Mastercard will utilize MoonPay's entire Web3 portfolio, including auth to minting to ETHPass, and collaborate with MoonPay's agency, Otherlife, for strategy, creative, and front-end development work for experiential initiatives. The goal is to create new and engaging consumer experiences.
Integration of Mastercard Products for Increased Compliance and Trust
Aside from consumer experiences, MoonPay will also work on integrating Mastercard products and solutions to enhance compliance and trust within the Web3 industry. This includes incorporating tools such as "Click to Pay," Mastercard Send, and Mastercard Crypto Credentials into MoonPay's payment solutions.
Mastercard's Web3 marketing Adam Polansky expressed his excitement about the partnership, commenting on Grossman's LinkedIn post. Mastercard's partnership executive Elizabeth Taylor also expressed optimism about the collaboration.
At the time of writing, Mastercard had not officially announced the partnership, and the company did not respond to Cointelegraph's request for comment.
Mastercard's Ongoing Exploration of Blockchain and Crypto
Mastercard has been actively exploring the blockchain and crypto industry, introducing various products to its platform in recent years. In 2022, the company launched a program that enables banks to offer crypto trading capabilities to their customers in collaboration with Paxos. Additionally, Mastercard partnered with Coinbase and MoonPay to bring its payments to Web3 and non-fungible tokens (NFTs).
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