KANALCOIN NEWS – Canadian Cryptocurrency Payment Provider, NetCents, has completed the technical integration of its consumer credit cards into its ecosystem. NetCents announced on March 20 that the company had started scenario testing in a real-world environment to prepare the card for launch. The card that will be launched is not like other Cryptocurrency credit cards. Because the NetCents credit card promises that users don’t have to pre-load Cryptocurrency onto their card, so it’s different from similar products that are already on the market.
This is because NetCents sees cards that require pre-loading to sometimes rob users of the appreciation of the value of Crypto, which users should receive for safekeeping and spending their coins.
The NetCents Cryptocurrency credit card is directly linked to each user’s wallet, which allows the Cryptocurrency to be used in real-time. The NetCents company has adapted instant settlement technology to enable merchants to convert funds into fiat at the time of purchase. NetCents has also integrated the exchange into its offering. So with the integration of the card into the existing ecosystem complete, and testing in real-world environments has started. Which is the final stage of developing the credit card before it is launched to the public.
It is planned that the NetCents Cryptocurrency credit card will be issued on the Visa network. So this card will have chip, pin, magstripe, and also near field communication technology. The usage system will also be integrated into the NetCents mobile application. With this card, users can also choose up to three Cryptocurrencies that can be spent through the card. Cryptocurrencies supported initially are Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH) and Litecoin (LTC).
While the NetCents credit card can differentiate itself among other credit cards, it is also facing competition from the Crypto-banking sector. So that more competition is encountered from Crypto-banking. Here are some examples of competition from Crypto-banking:
- German startup company Bitwala offers a mobile cryptocurrency banking app that comes with a payment card as well. However, there is a note that the Bitcoin and Ether that are there must be converted to fiat before being spent.
- German startup company Bitwala offers a mobile cryptocurrency banking app that comes with a payment card as well. However, there is a note that the Bitcoin and Ether that are there must be converted to fiat before being spent.
So it can be seen that the NetCents Cryptocurrency credit card does have competition. But that hasn’t stopped it from rolling out to Canadians to begin with.
(*)
