Mastercard will integrate crypto payments in DeFi and Metaverse

Payments in USDC stablecoins can be made not only in the Web3 space. But also in real merchant services that accept Mastercard cards for online payment

Mastercard Payment System and its Web3 protocol Immersve will allow users to make cryptocurrency payments in physical and digital worlds. Including decentralized services and metaverse, Cointelegraph reported. Settlements will take place in USD Coin Stablecoins (USDC), which are converted to fiat currency for transactions in a Mastercard system.

Transfers can be made at actual merchant services that accept online payment cards issued by Mastercard. Users will be able to access services using their cryptocurrencies. Online payments will be made after confirming the transaction with private keys.

Payments will be made without third-party mediation. Mastercard and Immersve will use decentralized protocols for payments.

Moreover, DeFi-projects and cryptocurrencies will be able to integrate with API interfaces. As well as Immersve smart contracts for transactions wherever Master card is accepted.

Our experts note that payment systems are increasingly interested in cryptocurrency transactions. Earlier this month, for example, Visa conducted a trial run of stablecoin payments in SWIFT. Rival Master card is currently working to incorporate into its system the ability to convert cryptocurrencies into fiat money and back.