2 min to read.
NFTs and Web3 are now part of MasterCard's payments network
MasterCard now accepts NFTs and Web3 as payment methods
Table of Content
- NFTs and Web3 are now part of MasterCard's payments network
- MasterCard:"We believe the process of buying an NFT needs to be easier and safer."
NFTs and Web3 are now part of MasterCard's payments network
Mastercard will offer its cardholders the ability to purchase NFTs through its payment system. A number of companies have reached agreements with the company in order to accomplish this, including Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and MoonPay.
Through new partnerships, MasterCard holders will be able to purchase non-fungible tokens on platforms owned by new partners without purchasing cryptocurrency in advance.
“We are working with these companies to enable people to use Mastercard to purchase NFTs from partner marketplaces or through their cryptocurrency services. With 2.9 million of our cards worldwide, this change could have a greater impact on the NFT ecosystem,” said Raj Damodaran, vice president of the company.
Moreover, he mentioned that a survey conducted by the payment system among more than 35,000 people in 40 countries indicated that non-fungible tokens are of interest to users. The majority of respondents (45%) indicated that they have purchased NFTs or plan to do so.
Mastercard has partnered with Coinbase to facilitate the purchase of NFTs on the cryptocurrency exchange market since January 2022, as part of a joint initiative. It was launched in beta form in April.
Remember that the payment system filed trademark applications related to metaverses in the same month. In the documents, it is discussed that a media-enabled NFT and marketplace for digital goods will be integrated with payment transaction processing and e-commerce software in the metaverse.
MasterCard:"We believe the process of buying an NFT needs to be easier and safer."
We’re also applying our full suite of capabilities to reinforce customer safety, giving people similar protections to the ones they enjoy when making transactions in a store or online with a Mastercard card. We’re using our cybersecurity tools to boost safety and protect user data for purchases people make using a Mastercard card. These latest efforts are intended to build on the enormous potential of the NFT market, growing payment choices for consumers and expanding NFT communities. We’re looking forward to continuing our work with all these companies to make sure this market can become even more welcoming, accessible and easy.
For details visit MasterCard official website
