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Crypto payments, loyalty rewards "As brands and merchants look to appeal to younger
consumers and their transaction preferences, these
Mastercard has long sought a role in the cryptocurrency new offerings represent a unique opportunity to satisfy
market and previously stated it would be supporting increasing demand for crypto, payment and rewards
select cryptocurrencies on its network. "Mastercard isn't flexibility," said Nancy Gordon, Bakkt executive vice
here to recommend you start using cryptocurrencies, Raj president, loyalty, rewards and payments. For its
Dhamodharan, executive vice president of blockchain/ part, Fiserv said its integration of Bakkt into the Carat
digital asset products & digital partnerships at Mastercard, omnichannel ecosystem "will allow businesses to pursue
wrote in a February blog post on the company's website. new options for B2B and B2C payouts, loyalty programs
"But we are here to enable customers, merchants and and transactions, all with crypto assets accessible via a
businesses to move digital value – traditional or crypto – digital asset wallet."
however they want."
In addition to supporting new digital capabilities for
Mastercard said its research suggests cryptocurrency merchants, Fiserv said, Bakkt technology will eventually
payments are especially appealing to millennials, support consumers' ability to buy, sell and hold crypto
with 75 percent of that cohort saying they would use assets at Fiserv's client financial institutions. "Fiserv is
cryptocurrency if they understood it better. in a unique position to connect merchants and financial
institutions utilizing a unified digital asset platform,"
The partnership with Bakkt aims to support Mastercard said Sunil Sachdev, head of fintech at Fiserv. With all this
partner banks and fintechs in offering a variety of activity on the crypto front, it looks like crypto payment
cryptocurrency solutions, including the ability for acceptance is set to become a part of the buying experience
consumers to buy, sell and hold crypto assets through for millions of Americans. Maybe not immediately, but it's
custodial wallets powered by Bakkt, and issuance of not that far off.
branded crypto credit and debit cards. Mastercard also
said it will integrate crypto into its loyalty solutions, Patti Murphy is senior editor at The Green Sheet and self-described pay-
enabling issuing partners to offer cryptocurrency rewards ments maven of the fourth estate. Follow her on Twitter @GS_PayMaven.
rather than traditional loyalty points.