Mastercard, the global payments giant, has forged a new partnership with the cryptocurrency payments platform MoonPay, continuing its exploration of the benefits of cryptocurrencies. MoonPay officially announced this collaboration with Mastercard on October 25, with the aim of jointly exploring ways in which Web3 tools can enhance experiential marketing and create new avenues to engage with Mastercard's consumer base.
During the Money20/20 event in Las Vegas, MoonPay Enterprise President Keith Grossman and Mastercard Chief Marketing and Communications Officer Raja Rajamannar unveiled this partnership. According to Grossman, "Mastercard will leverage MoonPay’s entire Web3 portfolio, including the ETHPass minting license and more, and work closely with our agency Otherlife to provide strategic, creative, and front-end development work for their experience initiatives."
Apart from developing new Web3 consumer experiences, MoonPay will focus on integrating Mastercard products and solutions to enhance compliance and trust within the Web3 industry. Specifically, MoonPay plans to incorporate tools such as Mastercard’s Click to Pay, Mastercard Send, and Mastercard Crypto Credentials into its payment solutions.
Adam Polansky, Web3 Marketing at Mastercard, expressed excitement about the partnership, and Elizabeth Taylor, Director of Partnerships at Mastercard, shared her enthusiasm, stating that they are excited about this collaboration and what's to come.
Mastercard has been actively exploring the blockchain and cryptocurrency industry over the past few years, introducing various industry products into its platform. In 2022, Mastercard launched a program that enables banks to partner with Paxos, providing their customers with cryptocurrency trading capabilities. Additionally, Mastercard has partnered with Coinbase and MoonPay to bring its payment solutions to Web3 and non-fungible tokens.
