Mastercard, a global pioneer in payment technology and innovation, has Announced plans to develop methods to integrate crypto, non-fungible tokens (NFTs), and metaverse into the global financial sector for seamless daily payments.

Raj Dhamodharan, Executive Vice President of Digital Assets and Blockchain Products and Partnerships at Mastercard, outlined 5 different methods to make this possible.

The first method Raj indicated was the use of cryptographic cards. Raj noted that Mastercard has partnered with Gemini in the United States to offer a credit card that uses cryptocurrencies to make reward payments. A recent announcement was made in Europe as Mastercard creates the world’s first debit card that is personalized into a customer’s NFT avatar.

The second method according to Raj is the provision of Services through cryptography. Cryptocurrency users and businesses can now get support in terms of cybersecurity, advice, and banking services from Mastercard.

Third, businesses can partner with giant crypto companies like Paxos and Uphold to convert crypto to fiat to simplify payment transactions. The fourth key is to integrate some Mastercard-approved cryptocurrencies into their network to expand payment choice for users.

Lastly, Raj mentioned the relevance of partnering with the metaverse and NFTs. According to him, “Coinbase customers can already use Mastercard to pay for NFTs, and in June we announced intentions to extend these options to eight additional NFT marketplaces and infrastructure providers.”

Facilitate payments with Crypto

In 2020, the world’s leading cryptocurrency exchange Binance Announced the launch of “Binance Card”, a new product that promises to offer crypto payment services anywhere in the world. The “Binance Card” offers many more features than a typical payment card. It works similar to a typical debit card provided by your bank.

Additionally, Uber CEO Dara Khosrowshahi fixed that the technology business is open to adopting Bitcoin as payment for his Uber Eat ride-hailing and delivery services in an interview with CNBC’s Squawk Box.

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