The Bank Slate


MasterCard hiring push to bulk up crypto, ESG services

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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