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Bitcoin for payment (source)
It is not surprising that cryptocurrencies have become worthy digital assets. It is surprising for some that eventually some countries have now come to welcome their existence, despite the initial resistance. While we focus on cryptocurrency adoption as we can see 2021 clearly highlights so many digital coins, this is just the beginning.
Just recently, we learned that the tech giant Microsoft is considering using Bitcoin as a payment option. Mastercard will accept crypto payments in the future. No wonder, we keep seeing a price upsurge of many cryptocurrencies, as the momentum maintains and reflects what is termed as a ‘bullish market’ in the crypto community.
2021 has been a bullish market on cryptocurrencies (source)
The pandemic situation forces us to do more online shopping, making online payments crucial for instant and easy transactions. Hence, people today would prefer online and paperless payments. Crypto assets are perfect for that intention and the new post-COVID normal. It makes sense to see online cryptocurrency/digital currency payment services are on the rise. People can easily convert their digital assets into physical goods, services, tickets, and almost anything you can think of.
Brining tremendous benefits for the businesses, crypto payments can solve the high-cost interchange fees or swipe fee problems. With swipe fees projected to increase, cryptocurrency payment can be more attractive, as they offer cheaper charges and the potential for faster settlements.
Mastercard are bringing cryptocurrencies onto their network
In the recent report, Mastercard has voices their plan to allow customers to “save, store, and send money” in cryptocurrencies, while also working on settlement options using Stable coins. It also opens up more opportunities for merchants, providing on and off-ramp possibilities along with the benefits that digital currencies bring.
With Mastercard fully onboard, we can say that crypto is here to stay, not just an experimental form of “internet money” anymore. Mastercard are forward-thinking and will offer seamless everyday payments by using cryptocurrencies. This is a huge step forward in crypto’s quest for mass adoption. We will likely see crypto payments used daily in the near future!