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News hardware & software 12 February 2021, 13:51

author: Bart Swiatek

Mastercard and Uber Plan to Accept Bitcoin Payments

Mastercard will soon allow customers to pay in cryptocurrencies. The transportation company Uber may also make a similar decision.

IN A NUTSHELL:

  1. Mastercard plans to allow customers to pay in some cryptocurrencies this year;
  2. Transportation company Uber is considering a similar move.

Following Tesla's recent massive investment in Bitcoin, other market players are considering a shift in their approach to cryptocurrencies. The list includes financial market giant Mastercard and well-known ride-hailing company Uber, among other entities. The information appeared in a note published on Mastercard's official website and in Uber CEO's interview for CNBC (via Decrypt).

The first of the companies has just announced that later this year it intends to allow paying directly with selected virtual currencies. The corporation wants to offer its customers a choice, but at the same time intends to ensure that it supports only those means of payment that will be safe, stable, regulated (in the countries where they will be used) and ensure that the privacy of users is properly taken care of.

"Our philosophy on cryptocurrencies is straightforward: It’s about choice. Mastercard isn’t here to recommend you start using cryptocurrencies. But we are here to enable customers, merchants and businesses to move digital value – traditional or crypto – however they want. It should be your choice, it’s your money," the announcement read.

Uber CEO Dara Khosrowshahi spoke in a similar tone, stating that his comapny may allow customers to pay with Bitcoin and other cryptocurrencies.

"Just like we accept all kinds of local currency we are going to look at cryptocurrency and or Bitcoin in terms of currency to transact. That's good for business, that's good for our riders and our eaters," the businessman said.

Amazon, on the other hand, will most likely create its own cryptocurrency that will enable customers to pay for services and products offered at the online store (via Coindesk). The means of payment is being created with the so-called emerging markets in mind - all indications are that it will first be made available in Mexico.

At the same time, it is worth noting that Uber is not convinced enough about Bitcoin to make a move similar to Tesla and invest its money in the cryptocurrency - such a possibility was considered, but was quickly dismissed. There is also no shortage of companies that still have considerable doubts about virtual coins - in this camp we find, for example, the fintech giant Adyen, whose services are used by Facebook, Uber or Netflix, among others.

  1. Mastercard - official website
  2. Uber - official website
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