NetCents Technology Inc (CSE:NC) (FRA:26N) (OTCQB:NTTCF) announced Tuesday it has received its Bank Identification Number (BIN) from Visa for its NetCents Cryptocurrency Visa cards.
With the Visa blackout date now passed and the BIN in place, NetCents said it is now able to complete the final technical integration required to launch the card.
READ: NetCents to offer interest-bearing crypto accounts on its platform
The final steps that the company is now completing are:
- Integrating the BIN into the Visa network via i2c;
- Integrating into the Apple Pay and Google Pay networks to allow cardholders to add the NetCents card to their Apple Pay and Google Pay digital wallets, enabling them to use it as a digital card;
- Set up BIN with the credit card printer; and
- Complete credit card chip profiling
In December, NetCents contracted with its card printing company, which is now completing the process of designing and printing the first batch of cards that will be issued to NetCents clients. This is the final part of the process as the BIN numbers that have been newly received are part of this production process.
Once these tasks are completed, the Vancouver-based company said it will commence issuing NetCents Cryptocurrency Visa cards.
"This development couldn't have come at a better time, Cryptocurrencies are really at that inflection point of growth, moving from ‘early adopters’ to a larger consumer group we call 'the new generation' of FinTech clientele,” said CEO Clayton Moore in a statement.
“Our predictions on the price of Bitcoin has come to pass. We expect wallets to exceed 100 million units in the near future, and that is just scraping the surface of a multi-billion market. Young people are embracing the opportunity to manage their own finances and they are now moving their assets into Crypto. The natural extension of this trend is to be able to access those assets with something as simple as a credit card.”
Moore added: “Our recent growth has been exceptional and now our clients will be able to use Crypto to shop wherever Visa is accepted. We believe that with all this new attention on Cryptocurrency - the take-up rate on our Visa card will be beyond our expectations.”
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham