Mastercard partners with MoonPay to drive web3 innovation and strengthen consumer connections

MoonPay announced a partnership with Mastercard aimed at promoting web3 innovation and strengthening consumer connections. MoonPay and Mastercard will explore how Web3 tools can enhance experiential marketing (including Mastercard's famous sponsorship portfolio) to establish new ways of connecting with consumers. MoonPay will also integrate Mastercard's compliance-friendly cryptographic credential system and integrate Mastercard's payment technologies such as sending and clicking payments. In addition, Otherlife, a subsidiary of MoonPay that provides Web3 creative agency services, development, strategy, and experiential services, will play a key role in this collaboration. It is reported that Mastercard first partnered with MoonPay in 2022 as part of a plan to allow cardholders to purchase NFTs.