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Mastercard’s Latest Crypto Loyalty Scheme Aims to Plug Google Pay Gaps

Payments giant Mastercard (MA) is working with Swoo Pay, an emerging markets-focused mobile payments app, to offer loyalty rewards in cryptocurrency and plug the gaps left by the likes of Google in the global payments landscape. Earning cryptocurrency as a reward, like loyalty points, isn’t a new thing for big payment networks like Mastercard and Visa. A couple of years ago, Mastercard trumpeted a crypto loyalty program with NYSE-owned platform Bakkt. With the new partnership, Mastercard and Swoo will target emerging regions like Africa and Southeast Asia, specifically the parts untouched by Google Pay. Mastercard will be the ultimate backer of the Swoo tokens.

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