Mastercard in Purchase, N.Y., plans to hire more than 500 young
professionals to expand its data and services division in a move that includes the creation of consulting groups for open banking and cryptocurrency.
The payments company said in a press release Tuesday that it
will also form a consulting group that will focus on environmental, social and
governance (ESG) issues.
“Payments
are just the beginning,” Raj Seshadri, MasterCard’s president of data and services,
said in the release.
"This
evolution of consulting is in recognition of the changing world and of our
changing business,” Seshadri added. “It’s about helping customers navigate
today’s challenges and anticipating what’s next.”
Mastercard’s consulting services for banks
and merchants include early stage education, risk assessments, and the design
of crypto loyalty programs. One focus involves helping central banks explore
the design and deployment of central bank digital currencies (CBDCs).
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