NetCents Technology, a blockchain-based payments company, announced on Friday the completion of its integration of cryptocurrency credit card into its ecosystem, taking a step towards its launch.
Unlike other crypto cards available in the market, NetCents card users will not have to reload cash. Rather, like any bank debit card, the amount on any spending will be deducted directly from the customer’s NetCents’ account.
With the recent development, the Canadian company has integrated the card into user wallets, NC exchange, and instant settlements. The company has also initiated testing of the card with real-life scenarios, which is the final stage of its launch.
NetCents’ merchant instant settlement technology will convert the funds from cryptocurrency to fiat for real-time consumer purchasing and merchant payouts.
Notably, the upcoming card will use VISA’s infrastructure for payment settlement, meaning customers will be able to use the card in millions of VISA enabled merchants across the globe.
Commenting on the development, Clayton Moore, CEO of NetCents Technology, said: “Since starting this process, our relationship with Visa has evolved and expanded. We look forward to working with Visa, evolving and driving these initiatives together. 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.”
Bringing partners on-board
The announcement also detailed that the company started its first merchant integration, which will enable merchants to allow their users to load their branded credit cards using cryptocurrency.
Meanwhile, many payment companies are now launching crypto-fiat cards to boost the day-to-day use of digital currencies. Companies like WireX were even born to develop technologies for such services.