Payment processing behemoth Mastercard Inc. (NYSE:MA) is launching a new consulting service dedicated to Open Banking, Open Data, Crypto & Digital Currencies, and Environment, Social & Governance (ESG).
“Over the past 20 years, we’ve worked with our customers across banking, fintech, retail, travel and other sectors, helping them understand and navigate every challenge and opportunity thrown their way,” Seshadri said. “This evolution of consulting is in recognition of the changing world and of our changing business. It’s about helping customers navigate today’s challenges and anticipating what’s next.”
What It Means: Mastercard's crypto consulting is aimed primarily at banks and merchants that need assistance in adopting this new class of assets. This includes developing a range of digital currency capabilities — from early-stage education, risk assessments and NFT strategy development to designing crypto loyalty programs.
Furthermore, the payment service provider is partnering with “digitally native firms” to offer crypto solutions and help fintechs enter the space.
MA Price Action: As of press time, shares of Mastercard are trading at $382.23 up by 2.20% on Tuesday.
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