Monavate has been selected to be part of a newly expanded track of the Mastercard Engage partner network focused on helping to scale digital assets and blockchain technology, and meet continued ecosystem demand.
As our world continues to embrace new and emerging payments technology such as crypto, Mastercard is introducing a new track as part of its global Engage partner network to allow businesses to quickly launch and scale products that power the Web3 economy.
Mastercard Engage makes it simple for partners to collaborate with Mastercard and accelerate time to market for product innovation through access to the company’s global network, expertise, technology, and resources. Last year alone, more than 150 Engage partners helped their customers deploy innovative solutions on more than 500 million accounts using Mastercard products and services.
The expanded Engage partner network focused on digital assets will help identify partners that can help bring new crypto card programs to market, in addition to allowing for crypto to fiat conversion capabilities. This, in turn, will broaden access to and for the many different players across the crypto value chain. Mastercard Engage benefits can be broken down into two key areas:
- Become a partner: For issuers or BIN sponsors looking to launch new crypto card programs, and payment ecosystem enablers looking to scale crypto payments solutions with BIN sponsors, Virtual Asset Service Providers (VASPs), processors and more
- Find a partner: For companies or digital asset innovators looking for the right partners to launch and scale their offerings
“Mastercard is committed to co-innovating across the industry to enable access to crypto and blockchain technology. This not only unlocks potential, but also provides greater choice in payments and commerce,” said Raj Dhamodharan, Executive Vice President, Blockchain and Digital Assets at Mastercard. “The expanded Mastercard Engage network will help empower players across the digital asset ecosystem and beyond to fulfill their ambitions at scale, paired with the safety and security that comes with the Mastercard brand.”
When speaking to Scott Lucas, Co-Founder and CCO at Monavate, he said “We’re excited to be included by Mastercard in its highly selective new track of the Engage Partner Network focused on blockchain innovation and digital assets, and to participate in leading the development of real world applications for Web3 products. This enables Monavate to build on existing work with Mastercard to help innovative businesses build the bridges between trad-fi and de-fi with new crypto card programmes.
Being included in Mastercard’s expanded Engage partner network confirms Monavate’s unique capabilities as a payments expert, and our remarkable track record of achievements across card and payments issuing, acquiring, processing, and compliance. We already have several record-setting achievements as part of our partnership with Mastercard, for instance delivering the first end-to-end cloud payment on a Mastercard card, or the fastest ever setup of a card programme, helping one of our clients go from idea to market launch in an unprecedented two weeks.
Discerning fintechs work with Monavate due to our proven capability to remove the complexities and traditional barriers to entry in launching and scaling card programmes and financial products. We deliver the payments architecture that enables businesses to go to market rapidly, confidently and with full peace of mind on compliance. As a Mastercard principal partner, and now as a recognised partner for blockchain innovation and digital assets, we have the expertise and the tools to do so.”
The following enablement partners are joining Mastercard Engage to propel blockchain innovation: Baanx, Credencial Payments, Episode 6, Immersve, Monavate, Moorwand, PayCaddy, Paymentology, Pomelo, Swap, and Unlimit. As a result, this development is likely to widen the scope of digital assets, making them more accessible to a larger consumer base.