June 22 (Cointime) - Mastercard has extended its Engage program to help cryptocurrency firms launch card programs by connecting them with appropriate technical partners.

June 19 (Cointime) - Mastercard, the payment processor giant, has filed a trademark application for cryptocurrency and blockchain-based tools, indicating its continued support for digital currencies.

Alchemy Pay has partnered with Mastercard to expand its reach to more users, introducing Alchemy Pay NFT Checkout as its latest project. The collaboration allows customers to use Mastercard's payment method to directly purchase digital artworks through Alchemy Pay's NFT Checkout function, increasing accessibility and convenience for users. The partnership also offers a solution for businesses to efficiently accept and sell payments for non-fungible tokens using diverse payment methods. With Mastercard's popularity and broad acceptance, the partnership is expected to attract attention from top players in the market and provide a smooth experience for clients.

Visa and MasterCard have agreed to lower the interchange fee they charge retailers in Canada for credit card transactions to under one per cent. The government announced a deal that will reduce interchange fees for in-store transactions by 27% on average, saving retailers about $1 billion over five years. Businesses with annual Visa sales volume below $300,000 will qualify for the lower fee, as will those who do less than $175,000 from MasterCard. The Canadian Federation of Independent Business called the deal a "significant accomplishment" but wishes that the timeline to implement the new fee structure could be moved up from its current target of fall 2024.

Cryptocurrencies are gaining popularity as traditional financial systems incorporate more efficient digital systems. However, novices may find it challenging to understand terms such as hashrate and gas fees. To improve user access, top financial institutions such as Mastercard, Robinhood, and PayPal are unveiling new crypto products and services. They are also discussing plans for better on-ramping in crypto at Consensus 2023. Mastercard has launched Crypto Credential, which seeks to provide users with a seamless on-ramping experience with blockchain technology. These innovations will boost crypto adoption among individuals due to the brand reputation of these global organizations.

Major payment providers Visa and Mastercard are propelling the cryptocurrency adoption with a series of new partnerships and initiatives, responding to the increasing demand for digital assets and the growing interest in blockchain technology.

Visa to Develop Brazilian Blockchain-powered CBDC Project; PayPal Extending Crypto Transfers to More Than 60 Million Venmo Customers

Mastercard is teaming with public blockchain developers Aptos Labs, Ava Labs, Polygon and The Solana Foundation on a new set of standards it's dubbing Crypto Credential in an effort to build the trust of consumers, businesses and governments in the sector. 

Mastercard is planning to expand its cryptocurrency payment card initiative with new partnerships with crypto businesses. The company's head of crypto and blockchain, Raj Dhamodharan, stated that Mastercard is "really quite enthusiastic" about the underlying blockchain technology that powers cryptocurrencies.

Mastercard recently debuted a free Music Pass NFT Drop during the annual NFT NYC convention, providing benefits for collectors who hold the token.