D-Wave Systems, a Canada-based quantum computing company, and Mastercard, an American multinational financial services corporation, will partner on developing quantum-hybrid applications using D-Wave’s annealing quantum computers and quantum hybrid solvers through the Leap™ quantum cloud service. The project will focus on consumer loyalty and rewards, cross-border settlement, and fraud management.
This partnership follows D-Wave’s announcement that the SEC had approved its S-4 file, opening the door for it to become one of the few SPACs moving in today’s competitive market. D-Wave and Mastercard share a goal of leveraging technology to make a beneficial impact on business and society. They believe that quantum will have a far-reaching and industry-disrupting influence, notably in the financial services sector, similar to the birth of the PC, the rise of the internet, the spread of smartphones, and voice assistants.
This collaboration will help bring that ambition to life by bringing quantum innovation to applications like improved loyalty programs, fraud management, and anti-money laundering in the financial services industry, eventually unlocking more excellent value for clients. Together, they will investigate all possible quantum computing uses in realistic, real-world financial services.