Friday, December 3

Mastercard opens a new possibility to pay with bitcoin through your cards

Key facts:
  • The companies within the association for the Asia-Pacific area are CoinJair, Amber and Bitkub.

  • 45% of the inhabitants of the Asia-Pacific region say they would use cryptocurrencies soon.

MasterCard announced a new partnership that will allow it to offer debit, credit and prepaid cards, within the Asia-Pacific market, backed with cryptocurrencies. This new agreement with two Thai companies (Amber Group and Bitkub) and an Australian one (CoinJar) seems to reaffirm the company’s favorable position towards bitcoin (BTC) and crypto assets.

The announcement was published by MasterCard on its official website this November 8. According to the statement, the association was made with “the main cryptocurrency companies of Asia-Pacific.” The text informs that this is the “first payment cards in the region that is linked to cryptocurrencies.”

The association occurs within a global cryptocurrency card program, released last July. The objective is to offer solutions to companies interested in this type of payment cards backed by digital currencies.

As detailed in the announcement, the cards will allow fiat money payments with direct settlement on the person’s cryptocurrency balance.

According to a survey conducted by MasterCard, the launch of this type of cards for the Asia-Pacific region goes hand in hand with the interest of the population. About 45% of the people surveyed believe that bitcoin or any other cryptocurrency is likely to be used in the coming year. This average is slightly above the world average of around 40%.

The merchant will receive the payments in fiat money, but the card user will have cryptocurrencies debited from their account. Source: Pixabay.

MasterCard has already said yes to the use of cryptocurrencies within its payment network. At the beginning of the year, CriptoNoticias reported that the card company would allow payments in fiat money, with direct settlement in cryptocurrency balance.

In October of this year, MasterCard announced that, since then, its commercial affiliates could offer services with bitcoin. This continues to demonstrate the support that the company is giving to the ecosystem.

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