MasterCard Unveils Novel Web3 Card Program Mast
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Posted On: 08/22/2024 4:36:25 PM
MasterCard Unveils Novel Web3 Card Program
MasterCard has launched a Web3 card program as a way of bridging traditional finance and decentralized finance (DeFi), which is constantly evolving. In a recent press release, MasterCard shared that it is partnering with MetaMask and other industry heavyweights to change how users manage and spend digital assets.
Jerome Faury, CEO of Immersive, has stressed the importance of this program in redefining financial freedom by supporting centralized and decentralized payment experiences.
One of the standout features of this card is that it allows you to serve as your own personal banker. In other words, it is a self-custodial wallet. This means you don’t have to rely on third parties to manage or transact your money; you will be the boss!
In the past, this has been a significant issue, especially when it comes to making purchases. For instance, when buying something, you must first transfer your money through an exchange, convert it into traditional currency, and then transfer it into your bank account. However, with this Web3 card program, you can purchase things directly.
Besides this, MasterCard and its partners have also ensured that the card is safe for users. The card is equipped with robust security features, including dispute management and chargeback protections from the company. In addition, the card features stringent know-your-customer (KYC) and antimoney laundering (AML) protocols, ensuring that your transactions are secure.
The Web3 card program is not about conveniences alone either. It is also about ensuring that everyone has access to financial services. According to Simon Jones, a banking chief commercial officer, this program can bring basic financial services, especially to regions with high numbers of unbanked or underbanked individuals. If this is achieved, it could have greater implications for millions of people without access to traditional banking services.
As these technologies become more integrated, more products and services will embrace them, leading to increased consumer adoption and a seamless blend of traditional and decentralized finance, according to Lorenzo Santos. Santos, a senior product manager at Consensys, shared that the aim is for everyone to enjoy this technology.
The Web3 Card Program is being launched in the United Kingdome and Europe as a pilot program to demonstrate how users can use their cryptocurrency for everyday purchases, just as they do a traditional credit card. According to Pascal Gauthier, CEO of Ledger, this program shows the essence of trust, transparency and secure transactions, especially as crypto continues to gain prominence around the world.
The partnership between MasterCard and MetaMask to introduce the Web3 card program will be pivotal in providing basic financial services via mobile phones to millions of users around the world. This program could eventually become of use to e-commerce players such as NextPlat Corp (NASDAQ: NXPL) (NASDAQ: NXPLW) since the users of the platform may find it to be a convenient way to pay for their purchases.
NOTE TO INVESTORS: The latest news and updates relating to NextPlat Corp. (NASDAQ: NXPL, NXPLW) are available in the company’s newsroom at https://ibn.fm/NXPL
Please see full terms of use and disclaimers on the Web3MediaWire website applicable to all content provided by W3MW, wherever published or re-published: https://www.Web3MediaWire.com/Disclaimer
MasterCard has launched a Web3 card program as a way of bridging traditional finance and decentralized finance (DeFi), which is constantly evolving. In a recent press release, MasterCard shared that it is partnering with MetaMask and other industry heavyweights to change how users manage and spend digital assets.
Jerome Faury, CEO of Immersive, has stressed the importance of this program in redefining financial freedom by supporting centralized and decentralized payment experiences.
One of the standout features of this card is that it allows you to serve as your own personal banker. In other words, it is a self-custodial wallet. This means you don’t have to rely on third parties to manage or transact your money; you will be the boss!
In the past, this has been a significant issue, especially when it comes to making purchases. For instance, when buying something, you must first transfer your money through an exchange, convert it into traditional currency, and then transfer it into your bank account. However, with this Web3 card program, you can purchase things directly.
Besides this, MasterCard and its partners have also ensured that the card is safe for users. The card is equipped with robust security features, including dispute management and chargeback protections from the company. In addition, the card features stringent know-your-customer (KYC) and antimoney laundering (AML) protocols, ensuring that your transactions are secure.
The Web3 card program is not about conveniences alone either. It is also about ensuring that everyone has access to financial services. According to Simon Jones, a banking chief commercial officer, this program can bring basic financial services, especially to regions with high numbers of unbanked or underbanked individuals. If this is achieved, it could have greater implications for millions of people without access to traditional banking services.
As these technologies become more integrated, more products and services will embrace them, leading to increased consumer adoption and a seamless blend of traditional and decentralized finance, according to Lorenzo Santos. Santos, a senior product manager at Consensys, shared that the aim is for everyone to enjoy this technology.
The Web3 Card Program is being launched in the United Kingdome and Europe as a pilot program to demonstrate how users can use their cryptocurrency for everyday purchases, just as they do a traditional credit card. According to Pascal Gauthier, CEO of Ledger, this program shows the essence of trust, transparency and secure transactions, especially as crypto continues to gain prominence around the world.
The partnership between MasterCard and MetaMask to introduce the Web3 card program will be pivotal in providing basic financial services via mobile phones to millions of users around the world. This program could eventually become of use to e-commerce players such as NextPlat Corp (NASDAQ: NXPL) (NASDAQ: NXPLW) since the users of the platform may find it to be a convenient way to pay for their purchases.
NOTE TO INVESTORS: The latest news and updates relating to NextPlat Corp. (NASDAQ: NXPL, NXPLW) are available in the company’s newsroom at https://ibn.fm/NXPL
Please see full terms of use and disclaimers on the Web3MediaWire website applicable to all content provided by W3MW, wherever published or re-published: https://www.Web3MediaWire.com/Disclaimer
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