The company's consulting services can now help customers understand ESG issues for their businesses. Along with this new practice, Mastercard has expanded its consulting to also include open banking, open data and cryptocurrencies, esgclarity.com reports.

Mastercard's data and services team has more than 2,000 researchers, engineers and consultants working with clients in 70 countries.

"Consumers are more socially and environmentally conscious than ever about the products and brands they interact with. Mastercard consultants help customers better understand what this means for their businesses, and then turn this information into actionable strategies that connect purpose and profit," according to a company release.

Mastercard gave an example of working with a Latin American bank to help provide funds for forest restoration through the Priceless Planet Coalition, "while boosting card usage." In the announcement, the firm's president of data and services, said payments is a starting point for its consulting operations.

"Over the past 20 years, we have worked with our clients in banking, fintech, retail, travel and other sectors, helping them understand and navigate every challenge and opportunity that comes their way," said Raj Seshadri, president of Mastercard Data and Services. "This consulting evolution is a recognition of the changing world and the changing business we are in. It's about helping customers navigate today's challenges and anticipate what's next."