Blockchain analytics and cryptocurrency intelligence is the expertise of CipherTrace, which was acquired by Mastercard last year. CipherTrace had more than 50 customers worldwide among financial institutions, digital asset exchanges and governments when Mastercard bought the company.
Crypto.com, a digital currency exchange, will accept cryptocurrency purchases using Apple Pay from within the company’s app.
The sixth largest manufacturer of POS terminals worldwide has introduced a handheld SmartPOS device intended for retail and hospitality merchants. The Newland N950 uses a 6-inch TFT touchscreen for data entry and runs on Android 10. Its readers accept contact and contactless chip as well as magstripe cards.
Brazil-based Payface piloted its biometric payment engine in 2019 with restaurant Biezza in a closed-loop system and launched it for open network payments last year with that country’s top merchant acquirer Cielo. Mastercard has selected Payface as a vendor in its global Biometric Checkout Program.
Credit, debit and prepaid cards issued in Europe with Visa, Mastercard, American Express and Diners Club brands generated $4.217 trillion in purchase volume for goods and services in 2021. On a local currency basis, this was an increase of 22.1% over 2020.
Should it come to fruition, the metaverse (an immersive online virtual world), which operates in Web 3.0, will need a way for people to make card, account-to-account and cryptocurrency payments to businesses. Worldline, the fourth largest merchant acquirer in Europe, has created a virtual showroom inside Decentraland, one of the virtual worlds currently comprising the metaverse, to explore what real-world payment services for virtual consumers (avatars) could look like.
American users of the Apple Pay wallet will be offered a buy now, pay later (BNPL) option from Apple for purchases made in-store and online of less than $1,000 at any merchant. Users can divide the purchase amount into four equal payments, which must be tied to a debit card.
Abra, which provides cryptocurrency trading, yield earning and borrowing services, will offer its customers the Abra Crypto Card on the American Express network. Amex will not issue the card, which will be the first to offer cryptocurrency as a reward for purchases made on the American Express global payment network.
Mastercard is working with marketplaces and cryptocurrency service providers MoonPay, Immutable X, Candy Digital, The Sandbox, Mintable, Spring and Nifty Gateway to allow card payments for NFTs and Web 3.0 commerce.
Recognizing the opportunity to further reduce friction in the payment process as well as to provide consumers with another method of payment, Mastercard has created the Biometric Checkout Program.
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