Mastercard CIO says global commerce is turning on its head

FUTURE OF PAYMENTS

- Sindhu Hariharan

Money, says Ken Moore, is being reimagined. The definition of money, he says, is expanding to include assets such as data, digital goods, CBDCs (central bank digital currencies), cryptocurrencies, NFTs (non-fungible tokens) and even solar credits.

Moore is the chief innovation officer at Mastercard, the global payments & technology company that connects consumers, businesses, merchants, issuers and governments around the world. He has been in that role for over six years now, prior to which he was head of Citibank’s innovation labs. On a recent visit to Chennai, he told us that in the future, all of us “will routinely exchange these (diverse) assets in everyday transactions in return for products and services.” And Mastercard, he says, sees all of these different modes as central priorities and is investing in them.