Mastercard now has crypto payment cards; paying merchants with Bitcoin just got easier

Cryptocurrency users will be able to make regular currency payments to sellers using their cryptocurrency tokens

Carl Adrian

8 Nov, 2021

Mastercard now has crypto payment cards; paying merchants with Bitcoin just got easier | BEAMSTART News

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Mastercard wants to offer another avenue for users to pay using cryptocurrency tokens they own.

The company has recently partnered with Amber Group, Bitkub, and CoinJar, to roll out a new "crypto payments card" to the market.

Key Highlights

  • Mastercard's crypto payment cards will let users worldwide convert cryptocurrency tokens into traditional fiat currency when making payments.
  • This will allow millions of cryptocurrency holders to make regular currency payments directly to merchants, without the hassle of transferring the tokens to merchants' "crypto wallets".
  • Mastercard's partnership with Amber Group, Bitkub, and CoinJar will allow the firm to push its offerings across Asia Pacific more aggressively.

Why It Matters

  • Mastercard's internal data has found that over 45% of Asia Pacific users already have plans to utilize cryptocurrency in 2022.
  • The advent of the global pandemic coupled with new cryptocurrency wallets have made it possible for the average person to invest (and buy) tokens easily.
  • Millennials have been found to be more willing to invest in cryptocurrencies, making them some of the largest holders of digital tokens — a future Mastercard wants to tap on.

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