“You are mistaken if you believe that the crypto winter has kept investors away from the DeFi Market. Web3 is the new battleground for the majority of businesses as they strive to establish their presence. Mastercard is not an exception, as the corporation submitted an application for yet another active trademark on Monday. The focus of the upcoming operation is on cryptocurrencies. Mastercard is rapidly expanding within Web3, with a focus on cryptocurrencies in particular. Monday, trademark attorney Michael Kondoudis announced the new trademark on his Twitter page. Mastercard’s most recent effort in this regard was filing a trademark application for crypto-related security services. The “Mastercard Crypto Secure” application was submitted to the US Patent and Trademark Office on November 22. This filing follows those trademarks the financial behemoth submitted in April to enter the metaverse and adopt NFTs. Following this, the financial entity began cooperating with NFT markets and Web3 providers to enable users to make NFT purchases using their Mastercard cards.”

“Mastercard introduced The Belle Block™ in Latin America and the Caribbean (LAC), during the 11th edition of the Mastercard LAC Innovation Forum. The Belle Block™ is a community launched in June 2022 to educate and empower women and non-binary individuals to benefit from Web3 technology and crypto. This expansion to the region comes in partnership with WAGMI LatAm, an education initiative aimed at bringing 5 million Latin women into Web3 by 2030. Mastercard believes in the power of technology and its ability to build a better future that includes everyone. This new group focuses on delivering on key building blocks: Business Growth, Education, Leadership, Legal & Regulatory Advocacy and Entrepreneurship.”

“Michael Miebach – Chief Executive Officer of Mastercard – thinks it will take more time than expected for crypto to become mainstream. However, he is optimistic that the asset class will become much more attractive to people once watchdogs impose appropriate regulations. In a recent interview, Mastercard’s CEO outlined that an increasing number of investors want to delve into the cryptocurrency market. The payment services giant allows them to do so “as easy and more importantly as safe” as any rival company, he added. Miebach sees a future world where most consumers across the globe use bitcoin in their everyday transactions and settlements. Nonetheless, he believes this will not happen in the upcoming months: “I think it’s a long way to go before crypto becomes mainstream.””

“Seven startups from around the world seek to champion innovation through the Mastercard Start Path program: There is no single vision for the crypto economy other than anyone who uses crypto should be able to do so simply and safely. For Mastercard, it’s about offering choice in how people pay, spend and buy crypto. Our role is to provide a best-in-class user experience and scale to offer this choice. NFTs, blockchain gaming and metaverse experiences could transform how consumers shop and communicate, however we need to collaborate and bring together tech, banking, fintech and crypto to unlock this potential…Through the Mastercard Start Path global startup engagement program, we work with digital asset, blockchain and cryptocurrency-based companies that share a vision to make blockchain technology and digital assets more accessible. These companies are making strides to bridge the gap between Web2 and Web3 and meet consumers where they are today. We’re welcoming a new cohort of startups to ease access to digital assets, build communities for creators and empower people to innovate for the future through Web3 technologies.” Companies: Digital Treasures Center (DTC) [Singapore]; Fasset [Abu Dhabi]; Loot Bolt [U.S.]; Quadrata [U.S.]; Stable® [Colombia]; TBTM (Take Back the Mic) Studios [Dubai]; Uptop [U.S.]”

“Today, McAfee Corp., a global leader in online protection, announced an exclusive partnership with Mastercard, a global technology company in the payments industry, to offer Mastercard personal and small-medium size business cardholders access to award-winning online protection solutions. In 2021, 83% of organizations reported experiencing phishing attacks, a 46% increase over 2020, and a number that is expected to grow in 2022. Mastercard is dedicated to connecting and powering an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Providing Mastercard cardholders with the tools to help combat growing security threats is one of the many steps towards combating bad actors and stopping damage from major breaches before they do lasting harm. McAfee offers for Mastercard US cardholders are…”

“Mastercard has launched Mastercard Gamer Xchange (MGX), allowing APAC consumers to convert their rewards points into gaming currency. It says the MGX platform is the world’s first conversion engine that allows consumers to convert unspent rewards points into gaming currency across nearly 4,000 gaming titles. Mastercard says it works through a simple API integration on the loyalty platform, allowing fast and seamless redemption. The company says with COVID-19 and its accompanying restrictions affecting once regular activities such as shopping, travel, and dining, people have increasingly turned to alternative avenues of entertainment such as gaming to satisfy their need for richer and more diverse experiences. Simultaneously, Mastercard says consumers have been constrained by their inability to redeem their accumulated rewards points, triggering a sense of dissatisfaction amongst them while also posing a significant financial liability for loyalty program owners. The company says MGX presents itself as an intuitive, innovative, and intelligent solution that addresses this gap in the ecosystem.”

“The National Bank of Bahrain (NBB) has recently announced its shift to 100% recycled plastic cards in partnership with Mastercard. This long-term initiative is part of the bank’s ongoing efforts to embed environmental sustainability within its daily operations. In addition to the bank’s continuous strides towards implementing ESG practices, NBB will now produce all of its credit and prepaid cards with 100% recyclable material to reduce the bank’s environmental impact, plastic waste and pollution. The recent initiative will be implemented on all newly procured cards in line with NBB’s commitment to responsible banking. Through the partnership, NBB aims to decrease its annual production of plastic after studies revealed that around 6 billion payment cards are produced annually and replaced every 3 to 5 years, resulting in an increase in harmful landfill waste across the world.”

“Mastercard today introduces Crypto SourceTM, a new program to enable financial institutions to bring secure crypto trading capabilities and services to their customers. The 2022 Mastercard New Payments Index reported that 29% of respondents globally hold cryptocurrency as an investment, with another 65% indicating a preference for crypto-related services to be provided by their current trusted financial institution.* In partnership with regulated and licensed crypto custody providers, Mastercard’s financial institution partners will gain access to a comprehensive suite of buy, hold and sell services for select crypto assets, augmented with proven identity, cyber, security and advisory services. This Crypto Source offering is complemented by Mastercard Crypto SecureTM to bring additional security to the crypto ecosystem and support card issuers in their compliance with complex regulations. Now, Mastercard’s suite of crypto-related offerings for banks and fintechs includes…”

“Mastercard highlighted on Wednesday five different areas it is working on in order to “turn cryptocurrencies into an everyday way to pay.” Raj Dhamodharan, executive vice president of Digital Asset and Blockchain Products & Digital Partnerships at Mastercard, explained: “Digital assets like cryptocurrencies and central bank digital currencies [CBDCs] have the potential to transform the financial system’s infrastructure.” He added that non-fungible tokens (NFTs), blockchain gaming, and metaverse experiences “could change how consumers shop and communicate.””

“Data analytics and artificial intelligence (AI) are the top technologies of the Fourth Industrial Revolution that are powering fintech solutions, found a Mastercard study on the state of fintech in the Middle East and Turkey markets*.  The white paper titled ‘The Future of Fintech: Smart, Scalable, Collaborative’ was released during Fintech Surge in GITEX Global 2022, one of the leading technology events in the Middle East. Mastercard is a Strategic Sponsor of Fintech Surge where senior global and regional executives are speaking at multiple panel discussions, fireside chats and presentations.”

“Financial services giant Mastercard has developed a new type of contactless card that incorporates quantum cryptography, designed to protect against hacks from current classical computers and future quantum computers. The enhanced contactless card uses standards recently revealed by finance industry technical body EMVCo known as “the EMV Contactless Kernel Specifications” that work with all existing payment terminals while also providing higher levels of security that are also “future proof”. When quantum computing technology reaches a point known as quantum supremacy, where the machines can perform near errorless calculations impossible with classical computers, it will also render current cryptography solutions simple to crack, meaning specific quantum security will be required. Experts expect this point to be reached by 2025-2027.    Mastercard says its new card is a “significant milestone that brings quantum-era security and privacy protection to contactless payments”. It will come with next-generation algorithms and cryptographic keys that have been designed to be fast, ensuring a contactless payment happens in under half a second, according to payment vendor, along with enhanced privacy protections to reduce the amount of account information shared between the consumer device and merchant terminal.”

Mastercard has announced that next week it will launch an innovative new system to combat cryptocurrency fraud, which is also becoming increasingly common on its payment circuits. The new system, which will be called Crypto Secure, has the ability to visually assess the risk associated with a given transaction through artificial intelligence and data on the chain, allowing card issuers to decide on the necessary actions.

The service will be built with the help of CipherTrace, a blockchain security startup acquired by Mastercard last year. This announcement goes in the direction imposed by many European and US government authorities who see the growing phenomenon of cryptocurrency fraud as a worryingly increasing danger.

“Inswitch, a fintech technology company with focus on embedded solutions for banking and payments, and Mastercard International Incorporated have partnered to design and deliver digital payment solutions and issuing programs starting with selected countries across LAC. Inswitch will start issuing cards as a Mastercard principal member in Mexico, with plans to expand quickly to key markets in LAC and other regions in the future. This collaboration will allow the company to extend its value proposition by offering digital and physical Mastercard branded cards for a broad range of applications across industries: “Now our clients can issue branded cards to support different use cases: digital wallets, Buy now pay later, supplier payments, working capital for corporate expenses or cash management necessities; among others,” said Ronald Alvarenga, Inswitch’s CEO.”

“Prophius today announced the launch of its PayContactless solution certified by Mastercard – a contactless acceptance solution that turns any NFC-enabled Android device into a physical point of sale. This move is expected to boost digital payment acceptance at small and micro enterprises in Nigeria, Ghana, Kenya, Uganda, and other key markets in Sub-Saharan Africa while supporting consumers’ preference for safe and seamless digital payment. PayContactless leverages Mastercard Tap on Phone, a simple and cost-effective digital payment technology developed for micro and small businesses and tradesmen who tend to operate in a cash economy due to the costs and complexity of obtaining traditional point of sale devices. The solution turns Android smartphones into secure payment acceptance devices for contactless cards, mobile wallets and even smartwatches — with no additional equipment or set-up costs.”

“ChargebackZero is partnering with Ethoca, a Mastercard company, to help merchants minimize chargebacks, lower consumer transaction confusion, and share details of confirmed fraud and dispute information. As part of the integration, we would prevent chargebacks using an alert mechanism. These Chargeback alerts are like a warning signal of an impending chargeback. The alerts enable merchants to identify and resolve customer disputes via near real-time communication with the customer’s issuing bank. Businesses receive notifications through the ChargebackZero dashboard that combines multiple forms of alerts from various card issuers with unique Chargeback zero dispute management tools.”

“Consumers and businesses in Dubai will soon be able to make seamless and safe contactless payments for select government and private sector services, thanks to a strategic partnership between Mastercard and noqodi, a leading fintech company owned by emaratech Group, part of the Investment Corporation of Dubai. Noqodi’s digital omni-channel payments, including Tap on Phone, will be powered by Mastercard Payment Gateway Services (MPGS). Enabled by MPGS technology, customers can simply tap their card or device to make payments through a merchant’s phone. One of the foremost online technologies, payment solutions and consulting companies in the Arab world, noqodi provides fully automated payment services to merchants, promoting a cashless society. Offering its industry-leading global payment gateway technology for businesses of all sizes, partners and acquirers, Mastercard will become a trusted partner to noqodi, helping to strengthen its payment capabilities.”

“Mastercard leveraged all the five senses, from sight, sound, smell to touch and taste in its marketing game plan.  Mastercard shared insights on current marketing paradigm and reviewed multi-sensory marketing strategy which will affect the future marketing model during a recent marketing summit.”

“Mastercard and LMK Resources Pakistan (Private) Limited (LMKR) have formalized a strategic partnership to oversee the implementation of the country’s first open-loop transit payment solution in a bid to further accelerate Pakistan’s digital transformation. The solution can be implemented through the country’s entire transit infrastructure, including rapid transit bus networks and e-tolling systems. The collaboration will allow commuters to top up and pay for transit fares through their debit and credit cards or digital wallets without the need to buy separate tickets.”

“Coming up on one year from the official announcement, retailers and card issuers rejoiced at Mastercard’s announcement that by 2024, issuers will no longer be required to use magnetic stripes on their credit and debit cards. In response to growing security concerns for storing customer credit card information on a magnetic stripe, EMV chip-based cards have cemented themselves as the new standard for storing sensitive account information and facilitating consumer transactions. Even before the rise of the magnetic stripe, engineers had long foreseen chip-powered cards as the future; only now is a post-magstripe world coming to fruition as credit card companies permanently phase out the dated technology.”

“Mastercard Inc. is facing pushback from retailers over a new product that allows customers to pay off their purchases in installments.  The payments giant has begun telling merchants and their banks that it will charge retailers 3% of a purchase price each time a consumer opts to use the new program, according to people familiar with the matter. Retailers will be automatically enrolled for Mastercard’s new buy-now, pay-later service, though they will have a chance to opt out.”

“Major crypto exchange Binance has partnered with Mastercard to launch a prepaid card for the residents of Argentina. In a Thursday announcement, Binance said the card will allow its clients in Argentina to use Bitcoin, BNB and other cryptocurrencies to make purchases as well as ATM withdrawals in fiat wherever Mastercard is accepted — roughly 90 million merchants globally and online. Argentine cardholders can also earn up to 8% back in cryptocurrency from certain purchases. According to Binance, the introduction of the card — expected to be “widely available in the coming weeks” — was part of the company’s efforts to further the global adoption of crypto.”