There are over 49,000 Paycent Cards (PYN) (www.PayCent.com) in distribution at this writing. Paycent, a division of Texcent, a Singapore-based company with offices in the Philippines and U.A.E, has made the first global Crypto Virtual Card available via their app, which you can get at the App store and Google Play.
[The Paycent Crypto Card is now available through the App store and Google Play.]
The card is virtual and also available as a plastic card for a nominal amount. It can be used online to book airline tickets and hotels, and can also be used to shop at Amazon. Now that Amazon has fully jumped into the blockchain universe, Paycent’s timing is interesting.
Even though Amazon has decided to leverage blockchain versus bitcoin, one cannot help but notice the domain names Amazon has secured. In an article on CoinTelegraph.com, “In November 2017, the e-commerce giant was reported purchasing a number of crypto-related domain names including ‘amazoncryptocurrencies.com,’ ‘amazoncryptocurrency.com,’ and ‘amazonethereum.com.’ It was also noted at the time that ‘amazonbitcoin.com’ redirects to the original Amazon URL”
Alex Agarwaal, Texcent’s Director of Card Programs and Partnerships, said, “It’s the nature of economics and commerce. Everyone is trying to figure out where the best starting point is. What we [Paycent} are doing is turning heads, because not only did we pick a very strong starting point, we established market share and have stimulated continuing response. Sure, Amazon may be focused on blockchain, but when they see a number of users, like Paycent cardholders, active in the world, Amazon may decide to activate some of those URLs they have. And, of course, that will only enhance our position.”
To get the Paycent card, users go through a KYC approval. If you’re not familiar with KYC, It stands for ‘Know Your Client’, and it guarantees that banks have documentary evidence of the identity of all their clients. Learn about that here: KYC (Know Your Customer)
KYC’s process involves identifying and verifying the identity of clients in order to facilitate compliance with Anti-Money Laundering laws (AML) and to protect from accidentally facilitating criminal activities.In other words —- security. Requirements for verification documents will vary depending on a user’s account Level. The additional data collected is not shared with unrelated third parties.
Once a user gets KYC approval, they can start using the Paycent Card without waiting for the plastic one to arrive by courier. No one offers all this except Paycent and the growing interest and engagement in Paycent’s card supports the idea that the cashless society is eager to cash in (as it were).
Paycent Cards enable users to convert digital assets into local currencies for use or withdraw from automated teller machines (ATMs) with real time accessibility and convenience, while adhering to the highest level of security standards in the industry.
The App lists those and other features:
- Send and receive or request digital assets with ease;
- Buy and sell precious metals or have it delivered directly to you;
- Load up an account easily through Credit/Debit Cards, Unionpay, Alipay and WeChat Pay;
- Cash out Paycent credits when needed through your Paycent Card;
- Convert digital assets to fiat with real-time accessibility;
- Conveniently access funds and pay for goods and services globally.
With speedy transactions and low transaction fees, the Paycent Card seems to have positioned itself well, evidenced by the high rate of early adopters. Paycent is also attracting merchants with their Paycent Merchant Program.
[Paycent is attracting merchants with their Paycent Merchant Program.]
Like any sector, influence and leadership triggers interest, acceptance and engagement. Paycent shareholders like what they see — a company that has put a tangible instrument into the market place and something that now has tens of thousands spending and selling —– virtually.