MasterCard partners with Bakkt to offer Crypto and Loyalty programmes


Mastercard has recently collaborated with the crypto exchange, Bakkt. The collaboration will allow Mastercard partners in the US to offer cryptocurrency solutions and services to their end-users.

This means that financial technology, merchants, and banks companies in the US can now use the Mastercard platform, to allow end-users to buy, sell and hold cryptocurrencies using wallets supported by the Bakkt platform.

Executive Opinion

Sherri Haymond, executive vice president, Digital Partnerships at Mastercard, said, "Mastercard is committed to offering a wide range of payment solutions that deliver more choice, value and impact every day. Together with Bakkt and grounded by our principled approach to innovation, we’ll not only empower our partners to offer a dynamic mix of digital assets options but also deliver differentiated and relevant consumer experiences."

Nancy Gordon, EVP, Loyalty Rewards & Payments at Bakkt, said, "We’re incredibly excited to partner with Mastercard to bring crypto loyalty services to millions of consumers. As brands and merchants look to appeal to younger consumers and their transaction preferences, these new offerings represent a unique opportunity to satisfy the increasing demand for crypto, payment and rewards flexibility."

Mastercard's collaboration with Bakkt

Mastercard partners can also issue branded crypto debit and credit cards and offer cryptocurrencies as rewards via loyalty solutions.

The crypto loyalty solution is similar to existing loyalty plans that reward end-users with loyalty points for using debit and credit cards. As per the Mastercard, this will create fungibility between the loyalty points and some other digital assets.

Mastercard's decision to incorporate cryptocurrency payments with the help of its payment solutions is driven by the soaring interest and trading in cryptocurrencies, notes the announcement.
PC: Pixabay

Note: We at TechSutram take our ethics very seriously. More information about it can be found here.
Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

No comments:

Post a Comment

    Your valuable comments are welcome. (Moderated)