Mastercard and MoonPay Collaborate on Web3 Push

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According to a blog post, MoonPay would feature payment technologies such as Mastercard Send and Click to Pay, as well as compliance-friendly Mastercard’s Crypto Credential system.

At the Money20/20 conference in Las Vegas, Mastercard and MoonPay, a cryptocurrency and non-fungible token (NFT) payments app, announced their partnership to investigate how the blockchain-based Web3 world can engage with customers and foster customer loyalty.

Visa and Mastercard, among other card networks, have been quite active in the Web3 space, focusing on a variety of topics like stablecoin-based payments and doing away with gas costs for Ethereum transactions. According to a Web3 workshop presentation, Mastercard most recently disclosed that it was collaborating with non-custodial wallet companies MetaMask and Ledger.

As per a blog post, the cooperation enables MoonPay to utilize Mastercard’s Crypto Credential system, which guarantees the safety and legal compliance of transactions. It also facilitates the integration of payment technologies such as Mastercard Send and Click to Pay.

It also stated that Otherlife, a MoonPay subsidiary that offers development, strategy, and experience services in addition to Web3 creative agency services, will be a major player in the collaboration.

Ivan Soto-Wright, co-founder and CEO of MoonPay, stated in the blog post, “We’re excited to collaborate with Mastercard, a prominent supporter of Web3 and the digital economy, to redefine customer loyalty and engagement.”

In 2022, Mastercard and MoonPay initially collaborated on a project to enable cardholders to purchase NFTs.


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