Mastercard proposes a three-pronged encryption support strategy

Mastercard outlined a three-pronged strategy at a virtual event at its annual Investor Day conference on Wednesday, with a focus on security and better services to support the growing cryptocurrency community. The credit card giant said it will focus on “encryption support”, including the purchase, spending, redemption and rewards involving cryptocurrency; encryption security, including identity services; and network access, including interoperability, stablecoins and CBDC. Barclays research analyst Ramsay El-Assal wrote in a report after the event that MasterCard senior management believes that encrypted payment traffic, including remittances, TradeFi and DeFi, represents the company’s net new transaction volume.