MasterCard has partnered with crypto payment firm MoonPay for Web 3 services.
Global payments giant Mastercard continues to explore the benefits of crypto with a new partnership with crypto payment platform MoonPay.
MoonPay officially announced its partnership with MasterCard on October 25, aiming to explore how Web3 tools can improve experiential shopping or find new ways to connect with MasterCard consumers.
MoonPay Enterprise President Keith Grossman and MasterCard Chief Marketing and Communications Officer Raja Rajamannar announced the partnership at Money20/20 in Las Vegas, the company reported to X (formerly Twitter).
“MasterCard will leverage MoonPay's entire Web3 portfolio, including ETHPass underwriting and more, and will work closely with our agency OtherLife to drive strategy, innovation and front-end dev work for their experiential initiatives,” Grossman wrote in a LinkedIn post.
In addition to innovative Web3 consumer experiences, MoonPay will integrate MasterCard products and solutions to increase compliance and trust in the Web3 industry. MoonPay incorporates MasterCard tools such as Click to Pay, MasterCard Send and MasterCard Crypto Credentials into its payment solutions.
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“We are very grateful for the partnership and are even more excited about what lies ahead. Congratulations to the entire team,” Adam Polanski of MasterCard Web3 Marketing commented on Grossman's post.
“We are excited about this partnership and what's to come,” wrote Elizabeth Taylor, MasterCard's executive vice president of partnerships.
MasterCard has not made an official announcement as of press time. The company did not immediately respond to Cointelegraph's request for comment.
MasterCard has been actively exploring the blockchain and crypto industry in recent years, adding several industry products to its platform. In the year In 2022, MasterCard announced a new program that will allow banks to offer crypto trading capabilities to their customers in partnership with Paxos. MasterCard has partnered with Coinbase and MoonPay to bring its payments to Web3 and Invincible Tokens.
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