NetCents Technology, a Canada-based payments processing firm, has now announced that they are looking forward to introducing a new digital currency credit card, to be made available for service in their domestic, and soon the European market. This makes NetCents one of the many firms that have been producing cryptocurrency credit cards for the common consumers in the very recent past.
The new credit card from NetCents does not require the digital currency to be pre-loaded. This means that the threat of volatility and huge swings in the token values between the time of loading and expenditure can be avoided.
Owners of the cards will be able to make a direct link of it to their NetCents wallets. This will be especially helpful for directly spending the virtual assets present in the respective wallets. The new credit card will let owners make expenditures using up to three tokens.
The card can be integrated into the mobile application of NetCents, and also provides a pin, chip, magnetic strip, and NFC features. Customers will be able to use their new credit cards to transact with over 40 million merchants worldwide, that accept Visa and MasterCard cards.
NetCents is looking to convert the assets from digital currency to fiat through the help of its merchant Instant Settlement technology. This means that new members of the credit card network will also be able to make purchases and expenditures instantly in real time.
The firm, reportedly, also has plans to integrate its credit card project into the White-Label Enterprise Partner Program. Additionally, the firm will also incorporate its newly designed loyalty program into the digital currency credit card program, using which the firm will provide rewards to NetCents customers based on their crypto expenses.
The firm plans to launch the credit card in Canada by the fourth quarter of the current year, and hopes to expand services into Europe by the beginning of next year. The firm so added that it is currently working to provide solutions to the US as well.