Mastercard will allow New Zealand and Australian users to make crypto payments in USDC stablecoins in the Metaverses and physical world through a strategic partnership with the Web3 payment protocol provider Immersve.
Payments giant Mastercard is working with financial services provider Immersve to allow Australian and New Zealand residents to use USDC stablecoins to pay for goods or services in both the physical and digital worlds. This is reported by The Block.
Users will be able to pay with crypto for any purchase at outlets that support Mastercard payments online. Once the user confirms the transaction, Immersve will automatically convert the required amount of USDC into fiat and transfer it to the recipient.
Immersve’s technologies enable the use of decentralized protocols to conduct crypto transactions through the Mastercard payment gateway in real-time. Thus, users will be able to make crypto payments with automatic conversion to fiat currency via popular Web3 wallets and without having to rely on intermediary services.
Mastercard is actively working on introducing cryptocurrency payments. Recently, together with Binance, the payment giant released prepaid crypto cards for Brazilian residents. Mastercard also announced its cooperation with Paxos to create a universal crypto solution for users of traditional banking institutions.
