Cryptocurrencies
Crypto Purchases Are Boosting Mastercard Customer Spending, CFO Says
- Trend is starting to slow as cryptocurrency prices decline
- Mastercard is piloting a prepaid debit card with a crypto firm
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Mastercard Inc. doesn’t traffic in cryptocurrencies, but it’s benefiting from them just the same.
The payment network’s cross-border volumes -- a measure of customer spending abroad -- have risen 22 percent so far this year, fueled partly by clients using their cards to buy digital currencies, Chief Financial Officer Martina Hund-Mejean said Thursday on a call with analysts. Higher spending on travel in Europe also contributed, she said.