NetCents cryptocurrency credit card will be accepted at 40 million merchant locations globally in an effort to directly compete with Visa and Mastercard. The company will also integrate its loyalty programme with its crypto credit cards to encourage and reward users for spending digital currencies.
NetCents To Facilitate Seamless Crypto Spending
NetCents Technology, a Canada-based payments processing company, has unveiled its new digital currency credit-card service — which will be operational in the domestic market by Q4 2018, and the European markets by early 2019. This service has been launched to make it extremely easy for cryptocurrency enthusiasts to spend their digital currency holdings.
NetCents will employ its Instant Settlement technology to convert crypto holdings into fiat instantly. Cardholders will thus benefit from a real-time facility for purchases and merchant payouts. NetCents card doesn’t require pre-loading of digital currencies to eliminate the risks of crypto-price fluctuations between loading and spending. At any given time, cardholders can spend any three NetCents supported digital currencies.
NetCents customers can also link their crypto credit cards directly with their native wallets for the seamless spending of their digital currency wallet holdings. Users can also connect the card with the NetCents mobile application. The crypto credit card will feature a pin, chip, magnetic stripe and NFC functionality.
NetCents Adds Bitcoin Cash to Its Platform
As NetCents completes its three-year exclusive corporate license agreement with Post Socrates Ventures (PSV), the company announced that it is integrating Bitcoin Cash to its NetCents ecosystem. The first phase of BCH integration will take place on NetCents exchange. The second phase will involve adding BCH to NetCents Merchant Gateway.
Post Socrates Ventures (PSV) specializes in payment processing, tourism, the blockchain, and telecommunication services. It also has expertise in POS terminal application development, payment system network administration, infrastructure design, end-to-end encryption among other things.
In partnership with PSV, NetCents will be integrating its payment processing platform will its several dealers and partners across 28 Carribean countries. PSV said that there is a high demand of BCH among the crypto-tourism retailers and luxury hotel industry in the Carribean islands. Carlos Mendez, Director of Communications at Post Socratic Ventures, said:
We look forward to integrating our distributors and partners into the NetCents platform and have selected the NetCents platform for their real-time payment processing technology (Instant Settlements) which eliminates the volatility risk for our traders. We believe that NetCents is the perfect partner for the service needs of our current partners due to its breakthrough platform and the inclusion of Bitcoin Cash in the platform.
A number of financial industry giants are seen taking the lead to push the cryptocurrency adoption in the mainstream. Earlier this month, NYSE parent Intercontinental Exchange (ICE) announced the launch of Bakkt platform, a regulated ecosystem of digital assets, with an aim to facilitate the use of digital currencies in daily spendings. Bakkt is launched in collaboration with Microsoft and retail giant Starbucks.
Will NetCents announcement drive more people towards using digital currencies? Share your thoughts in the below comments!
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Written by Bhushan Akolkar @ https://bitcoinist.com/netcents-crypto-credit-card-major-push-mainstream-adoption/ August 28, 2018 Bhushan Akolkar