Payment giant Mastercard will expand its consulting business to cryptocurrencies as well as non-fungible tokens (NFTs). In this initiative, the company’s goal is to support merchants in the adoption of these new technologies.
Consulting activity extended to cryptocurrencies and NFTs
On its Twitter account, the giant Mastercard announced the extension of its advisory service to cryptocurrencies as well as non-fungible tokens (NFTs).
Still aiming to position itself in the cryptocurrency sector, the company wants to support merchants who need help in adopting this new technology as well as digital objects.
“Over the past 20 years, we have worked with our customers in banking, fintech, retail, travel and other industries, helping them understand and navigate all the challenges and opportunities that come their way,”
said Mastercard’s President of Data Services, Raj Seshadri.
The idea behind this coaching is to enable the creation of synergies around cryptocurrencies. This can be the creation of a loyalty program, or even the implementation of a new payment method.
“This evolution of consulting is a recognition of the evolution of the world and of our business. It’s about helping clients navigate today’s challenges and anticipate tomorrow’s,”
added Raj Seshadri.
Mastercard will also help central banks
In addition to this goal, Mastercard plans to help central banks with their thoughts on creating central bank digital currencies (CBDCs).
In fact, the payment giant launched a test platform for this kind of digital currency in 2020.
The creation of this platform should allow central banks to evaluate the use cases of MNBCs. That is, to simulate the issuance, distribution and exchange of these digital currencies.
In the same vein, it is interesting to quote the recent statements of the European Commissioner for Financial Services, Mairead McGuinness. Indeed, the latter has declared that a bill will be tabled by the beginning of 2023 concerning the digital euro.
