NetCents introduces crypto purchase using credit cards

November 4, 2020
By Sam Grant

Crypto payments company NetCents has announced the support of credit card payments to purchase virtual assets

Users of the Vancouver-based company will now be able to buy crypto using their credit cards on the exchange. Only a handful of exchanges support cards for purchasing crypto so far after approval by the respective card companies. NetCent’s approval, therefore, solidly exemplifies the safety of the exchange.

“NetCents is now approved, which is a testament to the safety that is inherent in the NetCents platform,” the company explained.

Some of the benefits of the move highlighted in the announcement include a different way of depositing funds into NetCents wallet, fast and secure access to crypto, and contactless payments.

The feature will mostly benefit merchants that previously struggled to accept credit card payments for their businesses. The merchants have requested for the introduction of this feature for a while now. This addition will provide companies that don’t support credit cards with a contactless, digital transaction solution.

The payments company will bank on these merchants, directing their customers to register for NC wallets to successfully carry out purchases.

“It is expected that these merchants can drive all of their customers to sign up for a NetCents wallet to complete their purchases.”

In its research note on payments, Frankfurt-based financial service company Deutsche Bank pointed out, “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”.

The bank estimates that e-Wallets will be the second-most preferred payment method behind cards and the favourite for the millennial generation in five years or less.

NetCents confirmed that American Express, MasterCard, and Visa all agreed to be part of the incredible journey of improving crypto accessibility. The company believes that this feature’s introduction will put it in a position of prominence in the digital payments space.