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On November 17, Amazon, the largest Internet marketplace, announced that it would discontinue Visa payments. This has led to a massive user turn to MasterCard.

Cryptocurrencies seem to be of interest not only to retailers, but also to big companies. The largest companies in the world are already involved in cryptocurrencies or could soon enter the industry.

Former President of Mastercard International, CEO of the construction company FCC, and director of operations at Santander Baldomero Falcones will now assist in growing the Bit2Me card division.

Several customers' demand for a variety of contactless payment alternatives is triggering unprecedented growth. As per the new findings, the number of smart point-of-sale terminals is heading for a massive growth in the coming few years since retailers and consumers are increasingly embracing and adopting the financial and payment technology.

General digitization has brought most of the world's population online. Most operations from virtually all walks of life, including payments, are going digital. Therefore, wallets have also gone digital. Storing money in a pocket is a relic of the past.

Mobile payments adoption is growing worldwide. Owing to global digitization, the share of mobile payments in transactions is expected to reach 89% by 2025.

According to the new research by MasterCard, it has been found that the use of digital payment technologies including mobile money (MoMo), Bitcoin and other cryptocurrencies have boosted especially during the Covid-19 pandemic.

Cryptocurrency cards are the modern way to spend bitcoins for purchases even if the vendor doesn’t accept cryptocurrency directly. However, users worldwide face multiple issues while using these crypto cards, including the inability to pay everywhere, bad customer service, bad exchange rates, high fees, and even closed or frozen accounts with money lost.

Bitcoin has now reached a market cap (MC) of over $1.13 trillion whereas Visa combined with MasterCard have a market cap of about $864 billion. This is a clear indication that the world's original cryptocurrency is more attractive than the two giant financial services added together.