Business · Companies · 1 hr ago
Visa and Mastercard expand stablecoin payment services
Visa and crypto payments firm Mesh are working together to let people pay online and in stores with cryptocurrency or stablecoins held in digital wallets.
The customer pays with crypto, while the merchant receives regular currency through Visa’s existing payment network, without needing to handle crypto directly.
In South Korea, KSNET, Shinhan Bank and Crypto.com tested a system where foreign visitors pay with dollar-linked stablecoins and participating merchants receive won.
Other local trials have tested QR-code payments, refunds and stablecoin payments at CU convenience stores.
Mastercard has introduced a service to help flag fraud and sanctions risks by checking payment and blockchain transaction data.
These services are still being tested or rolled out in stages; Visa and Mesh have not announced a launch date or supported wallets, and Mastercard plans to expand beyond North America in 2027.
Wider use will depend on convenience, fees, security and reliable refunds, according to the story.
Visa is partnering with crypto payments company Mesh to link digital-wallet assets, including stablecoins, to online and in-person payments.
Through the arrangement, customers can pay with crypto while merchants receive funds through Visa’s existing payment network in traditional currency.
Mastercard has introduced a service that analyzes payment and blockchain transaction data to help financial firms assess fraud and sanctions risks.
In South Korea, companies and banks are testing stablecoin payments that allow foreign customers to pay with coins while merchants receive Korean won.
The services remain limited or in testing, and several launch details, including availability and fees, have not been announced.
- Who
- Visa and Mesh, Mastercard, and South Korean banks and payment companies are involved.
- What
- They are expanding or testing services connecting stablecoin payments with existing payment systems, including tools to assess transaction risks.
- When
- Visa and Mesh announced their partnership and Mastercard unveiled its service on October 19, local tests are also under way.
- Where
- The plans involve international payment networks and South Korean merchant locations; Mastercard’s service will begin in North America.
- Why
- The efforts aim to let customers pay with crypto while merchants receive traditional currency, and to help financial firms assess transaction risks.
This story does not have two clearly opposing sides.
BC Card completed a test with Coinbase and Wavelytics for payments using USDC at South Korean merchants.
Mesh announced a partnership with Visa to connect crypto and stablecoin payments to Visa’s network.
Mastercard unveiled Stablecoin Security, a service for assessing fraud and sanctions risks.
Mastercard plans to expand Stablecoin Security from North America to global markets.
- Visa partner
- Mesh
- Mastercard service
- Stablecoin Security
- Mastercard initial market
- North America
- Planned global expansion
- 2027
- South Korean settlement currency
- Korean won
- BC Card test currency
- USDC
1 source
What people are saying
Stablecoin payments will spread only if consumers and merchants can use them as conveniently as existing payment methods.
To expand into everyday payments, services above all need to show advantages in fees and convenience.