Mastercard and Bakkt Partner to Offer Innovative Crypto and Loyalty Solutions
Cryptocurrency market is about to look a bit more greener, as this awesome news about MasterCard and Bakkt partnership, which i think is going shake things up, by bringing crypto a little bit closer to bridging the gap with the traditional credit card payment industry. This partnership is going allow banks and merchants the ability to offer their customers opportunity to collect and spend loyalty rewards using crypto instead of traditional loyalty points.
I'm already in love with the benefits that this partnership is going to bring, so in a statement earlier today Mastercard said their costumers can now buy, sell or hold the digital assets (crypto) through a custodial wallets provided by their new partner Bakkt.
According to Bakkt's executive vice president of loyalty rewards and payments, Nancy Gordon, who is pleading to the younger generation costumers who are more involved in cryptocurrency transaction.
She had this to say during the announcement “We’re incredibly excited to partner with Mastercard to bring crypto loyalty services to millions of consumers,” said Nancy Gordon, EVP, Loyalty Rewards & Payments at Bakkt. “As brands and merchants look to appeal to younger consumers and their transaction preferences, these new offerings represent a unique opportunity to satisfy increasing demand for crypto, payment and rewards flexibility.”.
In the Bakkt U.S. Consumer Crypto Surveyof 2,000 U.S. Consumers, nearly half (48%) of respondents reported purchasing crypto in the first half of 2021, while 32% of those who didn’t are either very or somewhat interested in doing so before year-end. And, according to the Mastercard New Payments Index, 77% of millennials stated that they are interested in learning more about cryptocurrency, with 75% saying that they would use cryptocurrency if they understood it better.
In the report, the partnership between Mastercard and Bakkt is built on the commitment both parties have for cryptocurrency ecosystem. *Thanks for reading*🖐🏼😊.
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