Daily Management Review

Mastercard to allow transactions with cryptocurrencies


One of the world's largest credit card companies, U.S.-based Mastercard, will allow transactions with certain cryptocurrencies, according to a statement from Raj Dhamodharan, the company's vice president.

"Right now we are preparing for the future of cryptocurrency and payments by announcing that Mastercard will begin supporting certain cryptocurrencies directly on our network this year. This is a big change that will require a lot of work," the statement said.

"Doing this work will create many opportunities for buyers and sellers, allowing them to make transactions with an entirely new form of payment," the statement said.

MasterCard Inc. is an operator of one of the largest payment systems in the world. The number of transactions made through this payment system exceeds 22 billion a year.

source: reuters.com