- Mastercard partners with Bakkt.
- Together they are bringing crypto rewards to Mastercard users.
- Both partners are excited by this move and are eager to see where it goes.
Mastercard and Bakkt proudly announce their partnership. Together, they offer a step forward for merchants, fintech, and banks in the US. These entities can now accept and offer a wide range of cryptocurrency services and solutions.
With this leap, Mastercard users can begin to buy, hold, and sell cryptocurrencies. In addition, the brand can also deliver unique crypto-oriented loyalty opportunities as well as streamline the issuance of branded credit and debit cards.
In detail, with Bakkt on the scene, Mastercard’s ecosystem has expanded to enable Crypto-as-a-Service. Thus, Mastercard customers and partners can enjoy access to a greater digital asset ecosystem.
Specifically, Mastercard will also be integrating crypto into its many loyalty solutions. This, in turn, allows its partners to create fungibility via loyalty points by offering crypto as rewards. Executive Vice President, Digital Partnerships at Mastercard — Sherri Haymond, says,
Mastercard is committed to offering a wide range of payment solutions that deliver more choice, value, and impact every day. Together with Bakkt and grounded by our principled approach to innovation, we’ll not only empower our partners to offer a dynamic mix of digital assets options but also deliver differentiated and relevant consumer experiences.
According to a Bakkt US consumer crypto survey, nearly half of the respondents have revealed that they bought crypto in the first half of 2021. Meanwhile, 32% expressed their interest or growing intention to buy crypto before the year’s end.
On the other side, EVP, Loyalty Rewards & Payments at Bakt — Nancy Gordon, says that Bakkt is very excited about the partnership. Above all, they are eager to connect with younger consumers and tailor services to meet evolving transaction preferences. All in all, this move will help both brands meet the rising demand for crypto payments and rewards.
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