Mastercard Accelerates crypto partnership program

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Last Updated on 26 July 2022 by CryptoTips.eu

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Global payment system giant Mastercard is reviewing the process of its Accelerate program. The company now wants to attract crypto-card issuers and make their products easier to market.

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Mastercard accelerates its ambitions around cryptocurrencies

Wishing to “promote adoption and create innovative experiences in the crypto world”, Mastercard announced the extension of its program relating to the support of services related to cryptocurrencies.

The Accelerate 2.0 program will accept more crypto-card and digital markets to join the Mastercard ecosystem.

According to the company, the new innovation will make it easier and faster for its partners to market secure and compliant payment cards.

Raj Dhamodharan, Executive Vice President of Mastercard, and Head of Digital Assets and Blockchain Products, was enthusiastic about the innovation

The cryptocurrency market continues to mature and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy.

Accelerate 2.0 is a major noon for fin techs and crypto startups as Mastercard will provide assistance for each stage of the projects growth, from entry into the market to their international expansion.

By improving the program for crypto card partners, Mastercard streamlines its approval processes to reduce the time to market new products.

Wirex joins forces with Mastercard

As part of the initiative, Mastercard also announced that Wirex, a London-based crypto payment processor, has become the first company to be granted “core member status”.

Thanks to this status, Wirex card users will be able to convert their crypto-assets into fiat currency and spend them at points of sale that accept Mastercard.

In addition, the issuance of payment cards is of great importance for Wirex as it also brings additional benefits in terms of convenience, speed of transactions and cost reduction.

With this initiative, Mastercard wishes to regain ground on the Visa empire created around crypto-cards.