Ripple Set To Benefit From MasterCard’s Acquisition of Nets

Cory Johnson has posted on Twitter what looks like a significant
Ripple advantage. Mastercard has purchased Nets, a Denmark based payments
platform for $3.19 billion. The crypto influencer and former chief market
strategist at Ripple wrote:

“I know the XRP community is focused on the impact of Facebook’s Libra, but this Mastercard deal could be even more important to Ripple’s ecosystem. If nothing else, it’s validation that real-time payments is clearly the coming wave.”

Mastercard Inc., the financial services corporation, is going to utilize Nets to help move its operations into the faster payments zone. The American multinational principally processes banks payments between merchants and card issuers. Nets is an electronic billing platform, with instant payment and clearing capabilities as well.

Mastercard Joins Faster Payments Race

The race to faster payments processing has quickened. The Federal Reserve, for instance, is planning to build a quicker payments network for the States. The Mastercard acquisition will, therefore, move it beyond cards processing and deeper into account-to-account activity.

Paul Stoddart, Mastercard’s New Payment Platforms president says of the Nets
purchase that “This is really about
the continuation of Mastercard’s expansion into being a multi-rail provider
Stoddart says that the acquisition is a logical step after Mastercard’s recent
purchase of Vocalink.

Johnson, perhaps due to an NDA, left most crypto fans looking for a connection between the acquisition and Ripple. Nevertheless, Mastercard and Ripple do have an indirect connection. They have both invested in Ripple powered SendFriend, a global remittance startup.

Mastercard has also acquired Earthport, an automated clearinghouse and Ripple partner. Now with Nets on its side, Mastercard plan to expand Nets payments prowess beyond its Nordic primary market.

Ripple can give Mastercard on-demand

Michael Miebach, the chief product and innovation officer at Mastercard, has said, “.” Well, Ripple is already a significant player in the real-time payment wave.