Mastercard Announces Expansion of Engage Platform

Mastercard, a New York-based financial services company, announced that it has decided to expand the company’s Engage platform. Mastercard mentioned that new solutions will enable customers to provide entirely digital payment experiences for consumers.

According to the official announcement, the Engage network of Mastercard has various partners including Signzy, Provenir, Galileo, i2c and Marqeta. The financial services provider added that the Engage platform is now open to support Digital First deployment.

The company aims to accelerate its digital journey to facilitate clients around the world.

Commenting on the recent announcement, Andrea Scerch, President of Consumer Products and Processing at Mastercard, said: “The expansion of Mastercard Engage is happening at a critical time when financial institutions and digital players are seeking to fulfill consumer demand for digital experiences but may not have all of the in-house capabilities to do so. Instead of merely supporting physical cards with digital experiences, we are powering consumer choice by building a robust network of qualified enablers that can help our customers quickly launch digital products from the ground up.”

The newly launched solutions will enable customers to provide various digital payment services to consumers including a physical card option.

Mastercard’s Crypto Journey

Recently, Mastercard announced that the company is planning to support crypto payments in 2021. The firm mentioned that it has already started working on the integration of selected crypto assets on its network. According to the latest numbers published by the company, it has 89 Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term patents and the financial services provider is working with central banks around the world to support their CBDC plans. Mastercard is one of the largest financial companies around the world with a market cap of more than $368 billion.

Amsterdam-based digital services company VEON recently announced its partnership with Mastercard to boost its financial products across countries like Russia, Pakistan, Ukraine, Kazakhstan and Bangladesh. In August 2020, Mastercard and Transferwise extended their global partnership for the issuance of cards.