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There have been a few blows in recent times to the digital currency revolution. The Bitcoin price boom came with a rise in fees which made it hard to part with for small payments. Then, when it comes to other cryptocurrencies, there is far less payment adoption.
Visa announced that it would be partnering with a few crypto debit card producers in order to try and bridge the gap and make digital currencies much more functional in the real world.
Paycent looking for perfection
Paycent, who have now moved onto the next stage of their ICO with this pre-registration for these debit cards, have already made the news with their idea of a phased ICO.
During eight phases, in four years, Paycent will work towards a bridged gap between fiat and digital currencies.
This decision to split the ICO into phases comes as a result of Paycent following the advice of their community and advisors. It will allow contributors of the token sale to track the performance of each phase before they contribute.
Stage one is now complete, and according to the company, was a success with 80 percent of token distributed to more than 14,000 contributors from 80 countries. Within that first phase, Paycent completed what they call their hybrid wallet which is more than just a multiple currency vault as it can hold fiat and digital currencies together.
Phase two on the cards
Paycent have now moved on to releasing Paycentdebit cards in a pre-registration phase, which is limited to 20,000 cards on a first-come, first-served, basis.
Like the wallet, Paycent claim that the cards will have a hybrid ability which allows the user to turn their digital currency into fiat and thus spend it like any other debit card. To this end, Paycent have already partnered with three different card network providers to cover global countries.
These cards contain a few unique features that users of normal debit cards may find intriguing. The cards are almost truly global, as they can be issued to anyone in the list of 130 countries. Users do not need to be a PYN token holder to get the card and there are no yearly maintenance fees if the card is active and in use.
With the launch of a Paycent debit card like this, Paycent is hoping to take their hybrid currency technology global. The card is said to be able to work in over 200 countries and will be issued to users from 130 countries including – USA, Canada, UK, European countries, South America, the CIS, the Middle East, Japan, South Korea, Singapore, ASEAN countries.
Paycent claims it is adopting highest levels of KYC processes in order to be fully compatible with the existing banking norms and to be fully compliant with Anti Money Laundering Act.
Still the future
While companies like Visa may be skeptical about the melding of their world and the digital currency world, companies like Paycent are forging ahead with the use of the Blockchain to make it happen.
Adoption is fueled by ease, and there is currently nothing easy than using a card for payments.Follow us on Telegram.