To explore the benefits of Web3 technologies in “experiential marketing”, crypto payments company MoonPay has announced a partnership with Mastercard. What do we know about this latest blockchain experiment from the global payments giant?
MoonPay presents its partnership with Mastercard
While Mastercard is doing a lot of work on blockchain technologies, the latest announcement is a partnership with crypto payments company MoonPay. The latter made the collaboration official at the Money20/20 event in Las Vegas:
We’re excited to officially announce our partnership with @Mastercard, one of the largest technology companies in the payments industry pic.twitter.com/zdWzYefsPN
– MoonPay (@moonpay) October 25, 2023
The aim of this association is to explore how “Web3 tools can enhance experiential marketing”.
By “experiential marketing”, we mean sales actions in which prospects’ different senses are called upon within immersive experiences, as can be done, for example, during workshops in shopping malls to create an emotional bond with the brand.
While MoonPay did not go into detail about the initiatives that will be carried out, the company does specify that it will draw on Mastercard’s various Web3 technologies. First and foremost, we can cite the various solutions offered by Mastercard Crypto Credential, presented last spring:
“In addition, we will also be leveraging Mastercard Crypto Credential, a set of common standards and infrastructure that validate trusted interactions between consumers and businesses using blockchain networks. “
On the other hand, MoonPay will also call on other non-crypto-native products from the payments giant within its own catalog, such as Mastercard Send fast payments solutions as well as Click to Pay.
While this partnership may seem more anecdotal than Mastercard’s other experiments, it nevertheless testifies once again to the company’s interest in blockchain solutions. For example, the company recently presented its work in collaboration with the Reserve Bank of Australia, to experiment with the purchase of non-fungible tokens (NFT) on Ethereum (ETH) thanks to a central bank digital currency (MNBC).
