MasterCard to implement payments for NFT and Web3 projects – Bitcoin News

MasterCard to implement payments for NFT and Web3 projects – Bitcoin News

Payment giant MasterCard has announced that it is working with its cards to bring direct payment support for a number of NFT and Web3 platforms. According to the company, this will enable more customers to enter the industry as the barriers to acquiring such digital products have been reduced through more flexible payment products.

MasterCard to enable NFT and Web3 payments

Traditional payment companies have begun to embrace cryptocurrencies and incorporate them into their business strategies as an alternative. MasterCard, one of the world’s largest payment companies, has announced that it is working with a number of companies in the NFT and Web3 sectors to enable customers to pay for their products through MasterCard technology.

According to a PR statement, the company is working directly with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway and Web3 infrastructure provider MoonPay to enable customers to pay for digital products using their MasterCard cards. Platform MasterCard estimates that the top companies make up a large portion of the NFT space, generating over $ 25 billion in sales last year.

The move would enable any MasterCard card holder – who has 2.9 billion declaration notes worldwide – to enter the sector using the MasterCard product, bypassing the crypto conversion phase.

Make the path easier

The company’s goal is to facilitate payments for potential buyers of these products, which can be offset by the barriers that crypto space may present. According to Raj Dhamodharan, Executive Vice President of MasterCard Digital Assets:

Buying digital products should be as easy as buying a T-shirt or coffee pod on an e-commerce site. You can make your purchase with one click – that’s it.

For some, this is a logical move for Mastercard, which has already worked with Coinbase to allow cryptocurrency exchange customers to purchase NFT with their cards.

Also, the company says that debit and credit card payments in these online marketplaces will enjoy the “full affordability suite” that the company pays for payments available in retail stores, protecting consumers from fraud. Recently, MasterCard partnered with Edge to launch a card that does not collect KYC information from its users.

What do you think about the implementation of MasterCard payments through several NFT and Web3 projects? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He entered the cryptosphere late in the game when a price increase occurred in December 2017. Having a computer engineering background, living in Venezuela and being influenced by the cryptocurrency boom at the social level, he offers a different perspective. About the success of crypto and how it helps the bankless and disadvantaged.

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