Mastercard Didn't Want To Be The First...Or The Last
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
A couple of years ago, Mastercard decided to reclassify the way Bitcoin and cryptocurrencies purchases were processed. Instead of transactions being labeled as purchases, they were labeled as a cash advance which increased the transaction cost an additional 5% and deterred consumers from buying cryptocurrencies.
As we are learning in the crypto space, nobody wants to be the first and nobody wants to be the last.
Mastercard is bringing bitcoin to the checkout counter.
The company announced late Wednesday that it will support "select cryptocurrencies" directly on its network at some point later this year.
"Our philosophy on cryptocurrencies is straightforward: It's about choice," Raj Dhamodharan, an executive vice president at Mastercard, wrote in a post late Wednesday. "Mastercard isn't here to recommend you start using cryptocurrencies. But we are here to enable customers, merchants and businesses to move digital value — traditional or crypto — however they want."
https://www.youtube.com/watch?v=kgHea-ATUFw
Video Source: https://www.youtube.com/c/YahooFinance/videos
The news from Mastercard is on the hell of Visa announcing that they will help banks roll out bitcoin and cryptocurrency buying and trading services with a Visa crypto software program later this year.
So what's the significance of Mastercard's announcement...they just extended their existence?
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