Mastercard, the global payments giant, has announced a new partnership with crypto payment provider MoonPay to deepen its involvement with blockchain technology and explore Web3 tools. The collaboration aims to drive innovation, strengthen consumer connections, and enhance experiential marketing across Mastercard’s sponsorship portfolio.
MoonPay and Mastercard will work together to embed MoonPay’s payment solutions into the system, ensuring trust, compliance, and efficiency in the industry. This partnership will redefine customer loyalty and engagement, showcasing blockchain’s potential in establishing unique connections and meaningful moments.
The collaboration will leverage Otherlife, a subsidiary of MoonPay, to provide Web3 creative agency services, development, strategy, and experiential services. Otherlife’s expertise will help bring Mastercard’s Web3 ambitions to fruition, enhancing trust and efficiency within the Web3 ecosystem.
Mastercard Crypto Credentials and Mastercard Send
Mastercard Crypto Credentials, launched in April, establishes common standards and infrastructure for trusted interactions using blockchain networks. Mastercard Send is the firm’s person-to-person platform that allows customers to receive claims payments in near real-time via their debit cards, providing a seamless payment experience.
Mastercard’s Crypto Initiatives
This partnership is the latest in a series of cryptocurrency-related endeavors by Mastercard. In collaboration with MoonPay, Mastercard has previously enabled cardholders to purchase NFTs and launched initiatives such as Crypto Secure and Crypto Source to prevent fraud and offer secure crypto trading services. Additionally, Mastercard partnered with Polygon to launch the Web3-based Mastercard Artist Accelerator program.
Mastercard Multi-Token Network (MTN)
In June, Mastercard introduced MTN, a solution supporting interoperability within the blockchain ecosystem. MTN aims to make transactions within the digital asset and blockchain ecosystems secure, scalable, and interoperable, enabling more efficient payment and commerce applications.