The launch of a new consultancy service by MasterCard has been officially announced. It will include areas such as open finance, open data, cryptocurrency, and ESG.
The company acknowledges that the business world is rapidly changing. According to the company, innovation is fueled by a fast-paced digital transformation in response to shifting customer demands and geopolitical changes. The new initiative’s goal is to assist businesses in evolving and growing more quickly.
For over 20 years, Mastercard has been advising on multilateral payment schemes and data management capabilities. The Data & Services group now includes over 2,000 data scientists, engineers, and consultants in 70 countries worldwide.
Cryptocurrency advisory service
As part of its offering, the company intends to help banks and merchants navigate the world of digital currencies. There are many aspects to this, and training and risk assessment, designing cryptocurrency cards, loyalty programs, and creating cryptocurrency and NFT strategies are all part of the process.
To accomplish this, the company has partnered with native digital companies that offer state-of-the-art cryptocurrency solutions.
One of the project’s most ambitious goals is to assist central banks in their studies of the design and deployment of digital currencies (CBDCs). This will be done using Mastercard’s test platform. In this way, they can then model various scenarios before putting them into practice. Its extensive knowledge of payment systems, policies, and legislation would benefit them.