Mastercard will accept transactions with cryptocurrencies 'with conditions'

While Mastercard has invested a lot of time and effort in blockchain technology, it is not exactly a cryptocurrency enthusiast. This was clearly evident when both MasterCard and Visa classified the purchase of cryptocurrencies as an effective advance rather than a purchase.

At that time, Mastercard had expressed:
"In recent weeks, we have clarified to the acquirers, or to the merchant's bank, the correct transaction or the merchant category code that will be used for this type of transaction (cryptocurrency purchases). This provides a consistent view of such purchases for both merchants and issuers "

The result was that the use of credit cards to buy Bitcoin and other cryptocurrencies became more expensive. The exchanges charged a higher rate and users began accruing interest from the moment they used a card.

It seems that the financial monster has now changed its tone, but the reality is that they have not. Speaking to the Financial Times, MasterCard executive Ari Sarker says the company is "very happy" to consider helping to use cryptocurrencies, but only while those virtual currencies are issued by central banks.