Mastercard (MA) Partners with Gemini, Ripple for XRP Credit Card

Mastercard Incorporated (NYSE:MA) is one of the best long-term stocks to invest in according to Warren Buffett. On August 25, the company announced a partnership with cryptocurrency exchange Gemini and blockchain company Ripple to release an XRP Edition of the Gemini Credit Card. This new card is issued by WebBank and operates on the Mastercard network.

The card allows users to earn crypto rewards in the form of XRP, the native digital currency of the XRP Ledger (XRPL). Rewards include 4% back in XRP on gas, electric vehicle charging, and rideshare; 3% back on dining; 2% back on groceries; and 1% back on other purchases. The card also offers access to discounts through the World Elite Mastercard program. Holders will not pay any annual fees and the card will function like a regular bank card. That is to say, users will be able to pay with XRP at millions of merchants worldwide, instantly converting the cryptocurrency into local currency at the time of purchase.

Mastercard Incorporated (NYSE:MA) is a financial technology company. It operates a global payments network that facilitates electronic transactions between consumers, merchants, financial institutions, and governments. The company offers credit, debit, and prepaid card solutions, as well as digital payment technologies, cybersecurity services, and data analytics, to support secure and efficient commerce worldwide.

While we acknowledge the potential of MA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 12 Best Mid-Cap Value Stocks to Buy Right Now and 10 Must-Buy US Stocks to Invest In.

Disclosure: None. This article is originally published at Insider Monkey.