Mastercard Launches New Consulting Service Including Crypto Adoption Strategies

Mastercard Launches New Consulting Service Including Crypto Adoption Strategies
A MasterCard advertisement near the Empire State Building in New York, on Jan. 8, 2018. Bryan R. Smith/AFP via Getty Images
Benzinga
Updated:
Payment processing behemoth Mastercard Inc. is launching a new consulting service dedicated to Open Banking, Open Data, Crypto & Digital Currencies, and Environment, Social & Governance (ESG).

What Happened

In a Tuesday announcement, Mastercard wrote that it is expanding its consulting business with services that include an explicit dedication to the cryptocurrency space. Raj Seshadri—the firm’s Data & Services President—promised that the company will continue to help its customers navigate the financial landscape as it evolves.
“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.