VANCOUVER, Jan. 10, 2019 /CNW/ - NetCents Technology Inc. ("NetCents" or the "Company") (CSE: NC / Frankfurt: 26N) is pleased to announce that it has opened up applications to the beta for its upcoming Cryptocurrency Credit Card program.
The Company is finalizing the integration of the credit card program into the user portal and Instant Settlement program. Once complete, the Company will have a trial alpha period over the next couple of months. During this time, the Company will be accepting applications to be included in this Springs' beta period. The Company anticipates that the beta will run for 4-8 weeks. Upon the successful completion of the beta period, the credit card program will be rolled out to all Canadian users.
The beta program is open to Canadian residents that currently hold Bitcoin, Litecoin, Ether, and Bitcoin Cash. Users will need to sign up for a NetCents user account in order to be eligible for the beta program.
Once the program has been fully rolled out in Canada, the Company will launch the credit card to European cryptocurrency holders. The NetCents Card will be able to be used anywhere, at over 40 million merchants1 worldwide, that Visa is accepted.
Unlike other prepaid cryptocurrency cards in the market, NetCents cardholders will not have to pre-load cryptocurrency onto their card, eliminating the risk of the value of the cryptocurrency fluctuating between the time the user loads it and the time they spend it. The NetCents Card will be tied directly into users' NetCents wallets, allowing cardholders to directly spend the cryptocurrency in their wallet. Users will be able to select up to three cryptocurrencies that they would like to be able to spend on their card. The NetCents Card will be integrated into the NetCents mobile application and have chip, pin, mag stripe, and NFC functionality.
The Company will be adapting 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 is a next-generation online payment processing platform, offering consumers and merchants online services for managing electronic payments. The Company is focused on capturing the migration from cash to digital currency by utilizing innovative Blockchain Technology to provide payment solutions that are simple to use, secure and worry free. NetCents works with its financial partners, mobile operators, exchanges, etc., to streamline the user experience of transacting online. NetCents Technology is integrated into the Automated Clearing House ("ACH") and is registered as a Money Services Business (MSB) with FINTRAC, which ensures our consumer's security and privacy.
On Behalf of the Board of Directors
NetCents Technology Inc.
"Clayton Moore" Clayton Moore, CEO, Founder and Director
NetCents Technology Inc. Suite 880, 505 Burrard St (Bentall 1), Vancouver, BC, V7X 1M4
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.