Payments company Mastercard announced the expansion of its consulting service focused on new financial technologies, including cryptocurrencies, CBDC and NFT.
The firm plans to hire more than 500 young professionals and college graduates in addition to its 2,000 engineers and consultants in its data and services department. The division serves customers in 70 countries.
“Payments are just the beginning. For 20 years, we have worked with our clients in banking, fintech, retail, travel and other sectors, helping them understand and cope with all the challenges and opportunities that come their way. This evolution of consulting is a recognition of the changing world and the transformation of our business,” said Head of Department Raj Seshadri.
The company noted that its advisory services in the field of digital assets cover a wide range of opportunities: from early education, risk assessment, development of strategies for cryptocurrencies and NFTs, to the launch of payment cards and loyalty programs based on them.
According to the announcement, Mastercard has partnered with digital technology firms. This allows us to help fintech companies enter new markets and commercialize their strategies.
As another direction of the consulting service, Mastercard identified assistance to central banks in the study and deployment of CBDC. For these purposes, the company provides institutions with a test platform. It allows "to explore various scenarios and draw on deep knowledge of payment systems, policy, regulation and governance."