MasterCard & Bakkt Will Offer Crypto Loyalty Programs Soon.

MasterCard & Bakkt Will Offer Crypto Loyalty Programs Soon.

2021-10-26 | Selina Mathew

MasterCard & Bakkt Will Offer Crypto Loyalty Programs Soon.

MasterCard has teamed with FinTech firm Bakkt, which allows thousands of banks and merchants in the United States to access its payment network and provides a comprehensive suite of bitcoin solutions and services. Bakkt, based in Georgia, will expand its cryptocurrency partners' business environment, enabling crypto-as-a-service to provide clients with speedier access to digital assets. Following that, purchasers will be able to use the Bitcoin (BTC) prices they obtain from MasterCard merchants. They will be able to buy, sell, and hold digital products using the Bakkt digital commodities platform's final wallets.  MasterCard's senior vice president of digital cooperation, Sherri Haymond, stated, "MasterCard is committed to providing a wide range of payment solutions that bring additional alternatives, value, and impact on a daily basis." "We will not only allow our partners to offer a flexible combination of digital asset possibilities but also supply diverse and relevant consumer information," Ms. Haymond said. Following the announcement, Bakkt stocks increased by 40 percent to $ 12.8 percent, and MasterCard stocks dropped by almost one percent to $ 361.2 per share on Monday. About half (48 percent) of U.S. respondents said they bought some form of crypto in the first half of this year, Bakkt found in its crypto consumer crypto survey, in which 2,000 people were interviewed. According to the new MasterCard payment index, 77 percent of millennials are interested in learning more about cryptocurrencies, with 75 percent agreeing to use it provided they had a better understanding of it. Visa payer Visa said more than $ 1 billion was spent by users on products and services with cryptocurrency-linked cards worldwide in the first six months of the year. PayPal, a fintech corporation, is now allowing its users to pay for goods made online with digital currencies. It has established a separate business unit focused on blockchain and cryptocurrency. Pepsi, a US-based food and beverage corporation, is also looking into purchasing Bitcoin. Ride-hailing company Uber’s chief executive Dara Khosrowshahi has said the company will accept Bitcoin and other cryptocurrencies as a form of payment if it benefits the business.

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