Mastercard is an American multinational financial services corporation headquartered in Purchase, New York with over 24,000 employees and 2021 revenues exceeding $18.8 billion. They have a mission to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. And one of the tools they use to do this is to leverage advanced technology as much as possible to fulfill their mission. They have reached a multi-year strategic alliance agreement with D-Wave to explore the adoption of quantum computing solutions in their business. Some of the problems they will be working on may include things like developing more efficient settlement procedures for cross border payments, providing consumers with more choice and personalization, optimizing consumer rewards programs at an individual level, and finding more effective fraud detection algorithms that can result in earlier detection. They will be using D-Wave’s Leap™ quantum cloud service for creating and running the algorithms in real time. For more about this collaboration, you can view a news release provided by D-Wave that can be accessed here and also a short video that shows some of the potential applications here.
July 18, 2022