Mastercard accelerates crypto card partner program, making it easier for consumers to hold and activate cryptocurrencies

20 iulie 2020

Consumer interest and investment in digital currencies are growing, with research showing that up to 20 percent of the population of some countries are holding cryptocurrencies1, and an increasing number of merchants, digital players and financial institutions are exploring crypto payments.

Aiding adoption and creating innovative experiences in the crypto space, Mastercard today announced the expansion of its cryptocurrency program, „making it simpler and faster for partners to bring secure, compliant payment cards to market”, the company said.

Supercharging the partnership experience, cryptocurrency and crypto card partners are invited to join Mastercard’s Accelerate program2 for emerging brands and fintechs, giving them access to everything they need to grow quickly.

The move comes as Wirex becomes the first native cryptocurrency platform to be granted a Mastercard principal membership, allowing it to directly issue payment cards.

Mastercard’s Accelerate program provides a simple, single entry point to the company’s wide range of specialized programs and gives crypto partners and other fintechs support and assistance for every stage of their growth and transformation, from market entry to global expansion.

„Crypto partners can be onboarded to Mastercard in a matter of weeks and are provided a guided experience through everything the company can offer,” the card giant said.

Mastercard will only work with crypto partners that follow our core principles. Cryptocurrency partnerships must:

Provide strong consumer protection, including privacy and security of the consumers’ information and transactions;

Deliver a level playing field for all stakeholders, including but not limited to financial institutions, merchants and mobile network operators;

Operate in full compliance with all applicable laws and regulations, including those applicable to anti-money laundering, and consistent with the economic systems of the countries the network operates in.

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[1] Source: Statista Global Consumer Survey, 2019

[2] Accelerate is comprised of a range of award-winning programs that have helped participants all over the world access and benefit from Mastercard’s ecosystem, customers and innovations:

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Gabriela Nistor – director general adjunct BT

Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale in 2020?