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January 14, 2019

NetCents Technology crypto credit card set for pilot launch

Canadian payment processing platform NetCents Technology has announced plans for alpha and beta launch of its cryptocurrency credit card in Canada.

Alpha period of the NetCents card programme is set for the coming months. Furthmore, it will be followed by a beta launch over four to eight weeks. This will be for Bitcoin, Litecoin, Ether and Bitcoin Cash users in the country.

The crypto credit card will then be commercially launched for all customers. NetCents plans to make the product available for European cryptocurrency holders after full roll out in Canada.

NetCents card was initially unveiled in August last year. Moreover, the credit card does not require pre-loading of cryptocurrency, thereby eliminating the cryptocurrency value fluctuation risk.

The card comes with chip, pin, mag stripe and NFC functionality. It can also be availed at more than 40 million merchants accepting Visa globally.

Furthermore, it can be directly linked to the user’s NetCents wallets, which enables direct spending of the cryptocurrency available in the wallet.

Cardholders will be able to choose up to three cryptocurrencies to spend on their card. The card will be integrated into the NetCents mobile app.

NetCents Technology plans to leverage its merchant Instant Settlement technology to convert the funds from cryptocurrency to fiat. This will facilitate consumer purchasing and merchant payouts in real-time.

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