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NetCents Technology to allow users to buy cryptocurrency with credit card

The cryptocurrency payments company said "Visa, MasterCard and American Express are part of new path to crypto"

NetCents - NetCents Technology to allow users to buy cryptocurrency with credit card
NetCents said its users will be able to purchase cryptocurrency by dint of a credit card on the NC Exchange

NetCents Technology Inc (CSE:NC) (OTCQB:NTTCF) (FRA:26N), a cryptocurrency payments company, announced on Tuesday that it is adding the ability for NetCents users to purchase cryptocurrency by dint of a credit card on the NC Exchange. 

The Vancouver-based company noted that there are a limited number of platforms that are approved by the card companies for purchasing cryptocurrency. “NetCents is now approved, which is a testament to the safety that is inherent in the NetCents platform,” said the company in a statement.

Read: NetCents Technology ups credit facility from US$1.4B to US$2B to prepare for rapid growth in cryptocurrency space

The company highlighted the big benefits, which include the following:

  • A new way for users to be able to load funds into their NetCents wallet, making it easier for users to purchase cryptocurrency;
  • Will provide NetCents users with fast and easy access to cryptocurrency, in the most secure way possible;
  • Contactless payments are facilitated through this process; and
  • Users can now load their NetCents account and enjoy the potential upside of their crypto that they purchase while still having access to the value as a payment method.

The cryptocurrency industry is still in its early stages and most of the world's money is still in traditional currency, which is the reason why fiat gateways are important for the growth of the ecosystem, said the company. Undoubtedly, by accepting credit card payments for crypto, NetCents is supporting the broader use and accessibility of cryptocurrency worldwide.

NetCents has added this feature to its platform partially due to requests from multiple merchants that have difficulty accepting credit cards at their business, explained the company. The solution will allow businesses that don't accept credit cards, a viable contactless, digital transaction. “It is expected that these merchants can drive all of their customers to sign up for a NetCents wallet to complete their purchases,” said the company.

NetCents said it believes this addition to its capabilities will help “keep it at the forefront of the digital payments space.”

“Digital wallets can allow businesses to better know, interact with, and personalize products for their customers. Personalization enables companies to stand out in the field and gain market share. This is particularly the case with millennials who surveys show see smaller, custom brands as offering better quality products,” according to a research note by Deutsche Bank on payments.

By 2025, Deutsche Bank expects e-wallets to be the second most preferred method of payments after cards and the most preferred method among millennials.

NetCents has developed a blockchain platform for merchants and consumers looking for a better way to transact online with cryptocurrency. Its technology allows merchants and firms to accept cryptocurrency payments from customers by providing them with instant settlements.

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

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