Mastercard Launches New "Crypto Credential" Service to Secure Crypto Payments
Crypto News

Mastercard Launches New "Crypto Credential" Service to Secure Crypto Payments

1ในการอ่าน
1 month ago

Global payments leader Mastercard has rolled out a new service aimed at streamlining and securing peer-to-peer crypto transactions across several European and Latin American countries.

Mastercard Launches New "Crypto Credential" Service to Secure Crypto Payments
Global payments leader Mastercard has rolled out a new service aimed at streamlining and securing peer-to-peer crypto transactions across several European and Latin American countries. The newly introduced "Crypto Credential" service allows users to create a Mastercard username to facilitate the sending and receiving of Bitcoin and various other cryptocurrencies via exchanges such as Bit2Me, Lirium, and Mercado Bitcoin, which operate in regions including Brazil, Argentina, and France.
View post on Twitter

Walter Pimenta, Mastercard’s Executive Vice President of Product and Engineering for Latin America and the Caribbean, emphasized the importance of secure transactions in the growing blockchain and digital assets space. “As interest in blockchain and digital assets continues to surge in Latin America and around the world, it is essential to keep delivering trusted and verifiable interactions across public blockchain networks,” Pimenta stated.

Traditionally, crypto transactions require the use of complex wallet addresses, which are lengthy and seemingly random strings of characters. Mistakes in these addresses can lead to the loss of funds. Mastercard's new service addresses this issue by notifying the sender if the recipient's wallet does not support the specific asset or blockchain, thereby preventing the transaction from proceeding and safeguarding users from potential losses.

Moreover, the service tackles the problem of scammers using lookalike addresses to deceive users. Services often truncate wallet addresses, showing only the first and last few characters, which can be exploited by fraudsters.

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
0 people liked this article