MasterCard Plans To Allow Crypto Payments Through USDC Settlements

February 22, 2023

MasterCard Plans To Allow Crypto Payments Through USDC Settlements

The partnership between Immersve, the Web 3.0 payment protocol and MasterCard, the payment giant will allow users to make crypto payments on digital, physical, and metaverse worlds. This partnership uses the decentralized protocol to facilitate real–time cryptocurrency transactions on the outlets where MasterCard Online Payment would be accepted.

Upon the completion of the transaction from the user’s end, the USD Coin token will get converted to fiat and further be used for transacting on MasterCard’s network. Thus, users will be able to use existing Web 3.0 wallets for making direct crypto payments without the need for collateral from a third party.

On the other another partner Immersve will partner with third – party settlement provider to facilitate USDC for all purchases. Moreover, the users will also be able to access the feature through Web 3.0 wallets where their private keys approve the payments.

MasterCard has initiated several partnerships in the last few years to stay relevant in the crypto ecosystem. The partnership of MasterCard with Binance, the popular crypto exchange for launching a prepaid card in Latin America has been one of the most popular partnerships.

Today, MasterCard allows real-time crypto-fiat conversions in Brazil for around 14 tokens. During the launch of this plan, there were certain perks which included 8% cash back in crypto on specific purchases with zero fees on ATM withdrawals.

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