Mastercard has joined forces with BitOasis, the leading cryptocurrency platform in the MENA region, to launch a series of crypto card programmes that will enable cryptocurrency payments at e-commerce platforms and physical stores.
Users of the Dubai-based cryptocurrency platform will be able to convert cryptocurrency to fiat payments in more than 90 million merchant locations worldwide. Subject to regulatory approvals, the first cards are expected to be available in early 2023. Benefits from Mastercard will also be available to BitOasis customers who will be issued a virtual and physical BitOasis card via the BitOasis app.
Transactions made with this card will provide users with consumer protection features such as dispute resolution and refunds, which are currently unavailable for digital asset payments. We enable the consumer experience to be seamless by using their cryptocurrencies in a safe and secure environment through our collaboration with BitOasis, one of the most innovative crypto platforms in MENA,” he added.
According to the 2022 Mastercard New Payments Index, 29 percent of respondents worldwide hold cryptocurrency as an investment, with 65 percent preferring crypto-related services.
Earlier this year, Mastercard and Binance collaborated to launch prepaid cards in Argentina to facilitate cryptocurrency payments, allowing users to pay with cryptocurrency that would be converted to fiat currency in real-time at the point of purchase.
