In recent years, it has been observed that global payment giant Mastercard has actively engaged in the realm of cryptocurrency and blockchain. Moreover, it has added numerous products to its platform and continuously explored the benefits of cryptocurrency.
MoonPay’s collaboration with Mastercard in the web3 realm
On October 25, 2023, Mastercard made another collaboration with the crypto payment platform MoonPay, as this partnership was officially announced by MoonPay. This collaboration aims to explore the potential advantages of web3 tools to enhance marketing and connect with Mastercard’s consumers.
Keith Grossman, Moon’s president, posted about this collaboration on X (formerly Twitter), mentioning Mastercard’s CMO, Raja Rajamannar, at Money20/20 in Las Vegas.
Details of the Mastercard and MoonPay collaboration
In this collaboration, Mastercard will have access to MoonPay’s Web3 services, including its authentication, digital assets creation, and a tool called ETHPass. They will also collaborate with an agency called Otherlife for help with their creative and interactive projects, as Grossman wrote in his latest LinkedIn post.
Furthermore, MoonPay will also explore Mastercard’s products, aiming to increase compliance and trust in the realm of the web3 industry. MoonPay will be incorporating Mastercard’s “Click to Pay,” Mastercard Send, and Mastercard Crypto Credentials into its payment solutions.
Ivan Soto-Wright, MoonPay’s Co-Founder and CEO, stated:
“We’re excited to collaborate with Mastercard, a prominent supporter of Web3 and the digital economy, to redefine customer loyalty and engagement. Joining forces will create new opportunities to showcase blockchain’s potential in establishing unique connections and meaningful moments while broadening our industry’s overall reach.”
Additionally, in this post on LinkedIn Mastercard’s Web3 marketing and creative Adam Polansky commented, “We’re so grateful for the partnership and even more excited about what’s ahead. Congrats to the full team!”
Official announcement still awaited from Mastercard
It’s worth noting that all posts regarding this collaboration have been made by the MoonPay side, and there is no official announcement from Mastercard as of now.
Previously, there was similar collaboration news involving Bitpay, as they partnered with Roblox to accept XRP as a mode of payment. However, this collaboration was later denied by Roblox.