Mastercard is announcing the expansion of its global partner network amid increasing consumer demand for new payment technology.
The payments processing giant says the expanded Engage partner network will broaden access to digital assets and blockchain as it facilitates the introduction of new crypto card programs in the market and enable crypto-to-fiat conversion capabilities.
“Mastercard is introducing a new track as part of its global Engage partner network to allow businesses to quickly launch and scale products that power the Web3 economy.”
The firm says Engage will bridge digital asset firms with partners looking to launch and scale crypto payment solutions. To date, Mastercard partners Baanx, Credencial Payments, Episode Six, Immersve, Monavate, Moorwand, PayCaddy, Paymentology, Pomelo, Swap and Unlimit are joining the program.
Says Raj Dhamodharan, executive vice president, Blockchain and Digital Assets at Mastercard,
“Mastercard is committed to co-innovating across the industry to enable access to crypto and blockchain technology. This not only unlocks potential, but also provides greater choice in payments and commerce.”
In a push towards crypto, the world’s second-largest payment network also recently submitted an application with the U.S. Patent and Trademark Office claiming plans to introduce new software for crypto and blockchain transactions and link virtual asset service providers.
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