Mastercard’s payment-related consulting practices extends to crypto, NFTs

As businesses and brands dig deeper into the crypto industry, Mastercard wants to leave no stone unturned to retain its existing clients and onboard new companies looking to leverage the nascent industry.

The company has now expanded its payments-focused consulting services to four new fields, which include crypto assets and digital currencies as well. The remaining key areas are Open Banking, Open Data, and Environment, Social & Governance (ESG).

Per the press release issued Tuesday, MasterCard’s affiliated banks and merchants will receive consulting services on a range of subject matters, including early-stage education, risk assessments, crypto and NFT strategy development, crypto loyalty programs, and more.

Raj Seshadri, president of Data & Services at Mastercard, said:

“Over the past 20 years, we’ve worked with our customers across banking, fintech, retail, travel and other sectors, helping them understand and navigate every challenge and opportunity thrown their way. This evolution of consulting is in recognition of the changing world and of our changing business. It’s about helping customers navigate today’s challenges and anticipating what’s next.”

While Mastercard’s Data & Services division comprises more than 2,000 data scientists, engineers, and consultants, it’s looking to expand its team by hiring over 500 college graduates and young professionals.

On the other hand, Mastercard is not stopping at crypto assets. In the announcement, the company has also expressed interest in “helping central banks explore the design and deployment of a central bank digital currency (CBDC)” using its testing platform. This, in turn, will allow banks to research various scenarios and derive expertise on payment systems, policy and regulation, and governance.

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