NetCents Technology, a Canadian payment processing business, has revealed a cryptocurrency credit card for easier access to digital assets. The card is planned for domestic markets in quarter 4 of this year, with European markets coming by early next year.
Instant Spending
Working directly with the NetCents mobile wallet app, users can spend up to three supported cryptocurrencies at over 40 million merchants across the world, anywhere where Visa or MasterCard can be used.
Cards don’t need to be pre-loaded; instead, the card will connect straight to the compatible app and take whatever price is at the time of purchase. NetCents’ crypto credit card will have a magnetic stripe, NFC, PIN, and chip integration.
This card works using NetCents’ Instant Settlement technology which converts crypto to fiat instantly. The company will also provide a loyalty program to reward users that spend with the crypto card. There are reportedly also plans for a United States launch as well, though there is no information on that at this time.
About NetCents
Founded in 2008, NetCents supports payment processing for personal and enterprise use. While it works with PayPal, fiat, credit card, and other payment processors, the technology business has long supported cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) as well.
The company recently signed a three-year Enterprise license agreement with Post Socrates Ventures (PSV), while also beginning support for Bitcoin Cash (BCH.)
In a statement, the Director of communications at PSV commented on the collaboration:
“We are convinced that NetCents due to their ground-breaking platform and the inclusion of Bitcoin cash in the platform is the perfect partner for the service demand of our current partners.”
PSV is similar to NetCents in that the company works with all sorts of technologies such as blockchain, online payment systems, and end-to-end encryption. It’s good to see payment processing companies expanding into cryptocurrencies. Projects such as the crypto credit card increase the potential for mainstream adoption, which, in turn, solidifies the use cases for digital assets as an emerging technology.
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