NetCents Cryptocurrency Credit Card Update

By Chief Revenue Officer

Earlier this year, we announced that we were in our private alpha phase for the NetCents cryptocurrency credit card program. A lot has happened since then and we want to provide you an update around what we’ve done, where we are, what is left to do, and when we plan to launch.

We anticipated launching the beta for our card program in the late Spring/ early Summer. During our alpha testing, we identified several areas of the program functionality that we wanted to improve for the launch. Additionally, when doing the physical card selection, we had the option between two different cards, one that included contactless payment and one that didn’t. One without contactless payment we would have access to right away or the card that included contactless payment would be available to us in August. We chose to wait for the card that would give our users the ability to use contactless payment.

Where are we now with the card program?

The team has completed the following elements needed to launch. We have final Visa program approval. We have final card design approval and our first order of cards is currently being manufactured. We have completed all of the documentation that we need for the program – credit card inserts, terms and conditions, privacy policy, and the user portal designs and development.

What are we working still working on?

We are in the final stages of testing. We are working in a sandbox test environment with full merchant data, testing and tweaking how the integration of the NetCents ecosystem works within the credit card environment on the Visa rails.

We are also in the process of upgrading our KYC/AML (Know Your Customer/Anti-Money Laundering) to bank-level security.

So, what’s left to complete in order to launch the card program?

Once we have finalized the integration in the test environment, we need to complete the Visa API implementation certification and complete the KYC/AML upgrade.

Without any unanticipated delays, we are still on target for our August launch.

Stay tuned for more updates on the program and we will let you know as soon as we have a definitive launch date.

 

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