The company has integrated the card into its User Wallets, NC Exchange, and Instant Settlements ecosystem as it prepares to publicly launch the program
Technology Inc () (OTCMKTS:NTTCF) announced Friday that it has completed the technical integration of the NetCents Cryptocurrency Credit Card.
The implementation of the credit card program into the NetCents ecosystem includes integration into User Wallets, NC Exchange, and Instant Settlements, the company said in a statement.
NetCents added that it has begun testing in real-world environments for edge-case scenarios – the final step before publicly launching the program.
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Additionally, the company has already started the first merchant integration, which will enable merchants to allow their users to load their branded credit cards using cryptocurrency.
CEO Clayton Moore said NetCents has expanded its relationship with Inc () since starting the integration process.
“We look forward to working with Visa, evolving and driving these initiatives together,” he said. “We consider it a privilege to support Visa in their effort to bring best-in-class products to the market. We hope to update you on these advancements in the near future.”
Unlike other prepaid cryptocurrency cards in the market, NetCents cardholders will not have to pre-load cryptocurrency onto their card, eliminating potential “lost” appreciation caused by rising cryptocurrency values between the time the user loads it and the time they spend it, the company said.
The card is tied directly into users’ NetCents wallets, allowing cardholders to spend the cryptocurrency in their wallet directly. Users will be able to select up to three cryptocurrencies that they would like to be able to spend on their card.
And the card will be integrated into the NetCents mobile application and have chip, pin, magstripe, and NFC functionality.
The company also said it has adapted its merchant Instant Settlement technology to convert the funds from cryptocurrency to fiat for real-time consumer purchasing and merchant payouts, allowing users to spend their cryptocurrency anywhere Visa is accepted.
NetCents, based in Toronto, has developed a blockchain platform for merchants and consumers looking for a better way to transact online with cryptocurrency. Its technology allows merchants and firms to accept cryptocurrency payments from customers by providing them with instant settlements.
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