MasterCard – Creating Futuristic Financial Services Backed By Quantum Computing

July 27, 2022

D-Wave Systems and Mastercard have announced a multi-year strategic partnership for developing quantum computing-based solutions for designing futuristic financial solutions
Quantum applications will have far-reaching and industry-disrupting impact
Mastercard is emphasising sustainability. Ellen Jackowski has been named the Company’s Chief Sustainability Officer

D-Wave Systems and Mastercard have announced a multi-year strategic partnership to accelerate and mainstream quantum computing solutions in building financial solutions. Collaboration will use the power of technology to benefit business and society.

Mastercard and D-Wave will work together to create Quantum Computing-based applications for designing futuristic financial services such as consumer loyalty rewards, cross-border settlement, and fraud management. Under the terms of the agreement, Mastercard will use quantum computing technology enabled by D-Wave to provide real-time access to quantum applications-based financial solutions powered by Mastercard’s network.

According to Alan Baratz, CEO of D-Wave, World is heralding towards the next wave of computing. Quantum applications will have far-reaching and industry-disrupting impact, especially in the financial services sector.

Quantum technology innovation will create value for customers by addressing increasingly complex issues such as fraud management and anti-money laundering in the financial services domain.

Mastercard and @dwavesys are joining forces to unlock the potential of #quantumcomputing and will be prototyping potential real-world #commerce applications. Learn more: https://t.co/cAlXIwSmoz pic.twitter.com/fu1ljJQpOv
— Mastercard News (@MastercardNews) July 18, 2022

Mastercard is working to provide businesses with cutting-edge financial services. It has recently partnered with Instacart and Chase to provide more value to users. Instacart is North America’s leading grocery technology company, and Chase is the country’s largest co-brand card issuer.

Meet the Instacart Mastercard. 5% cash back on Instacart purchases. A year of free delivery. No annual fee. It’s the smartest thing to happen to groceries since those grapes that taste like cotton candy. Apply now: https://t.co/KinDoHhLIQ. Terms apply. Membership Auto-Renews. pic.twitter.com/x7ACsQ5I9a
— Instacart (@Instacart) July 22, 2022

Mastercard’s exclusive payments network will be used by the new Instacart Mastercard credit card. The Instacart Mastercard is intended to provide more value, rewards, and savings to Instacart users.

Mastercard is emphasising sustainability. Ellen Jackowski has been named the Company’s Chief Sustainability Officer, effective July 25, 2022. Ellen will be instrumental in further integrating Mastercard’s Environmental, Social, and Governance (ESG) strategy into the organisation in her new role. Jackowski previously worked at HP as the Chief Impact Officer and Head of Sustainable Impact.

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