June 21, 2016 09:00 ET
nanoPay Announces the Deployment of MintChip Digital Currency
Toronto’s Vibrant Liberty Village Neighborhood Is the First to Experience How Easy, Fast and Secure It Is to Pay With MintChip Digital Cash
TORONTO, ON–(Marketwired – Jun 21, 2016) – nanoPay Corporation, a fully-integrated loyalty and payments platform provider, announces the first commercial deployment of MintChip™, the regulator-friendly digital cash platform designed to be a safe, secure and fast way to send money and pay merchants. Beginning today, all Canadians can download and use MintChip to send and receive digital cash with friends and family for free through secure person-to-person (P2P) payments. Consumers shopping or dining at participating merchants in the Toronto’s Liberty Village neighbourhood can also pay for goods and services with MintChip.
“Canadian consumers and businesses have an opportunity to be the first to experience the benefits of MintChip digital cash,” said Laurence Cooke, CEO and founder of nanoPay. “Whether sending money to a friend or paying in-store, MintChip provides Canadians their first glimpse of a cashless society.”
From now until Labour Day, anyone visiting the Toronto area can use MintChip to pay at the following Liberty Village locations. Each customer will receive 20% cashback on all purchases made with MintChip, up to a total value of $50, and will be entered to win MintChip cash prizes every time they use MintChip for P2P or merchant payments.
- Bugigattolo Kitchen
- Ciao Europa Café
- For the Love of Cake
- Home Hardware
- Joker Cafe
- Liberty Village Rotisserie
- Merci mon Ami
- Nutrition House
- Raaw Japanese Sushi
- Smooth Wax Bar
- Suzanne Gardner Flowers
MintChip enables consumers to safely store and move cash digitally. MintChip transfers value by creating a digital representation of cash and storing it in a digital vault. Patented technology securely encrypts and processes payments instantaneously, requiring no third-party processing or settlement. This reduces risk and eliminates chargebacks for merchants.
“With the launch of MintChip in Canada, we demonstrate that it is feasible to replace physical cash with digital cash, while showing the viability of the platform to banks, merchants and developers worldwide. Open APIs enable developers to easily integrate digital cash into new service offerings that will expand the utility and acceptance of MintChip,” said Cooke.
To download the MintChip app on Google Play or the App Store, visit mintchip.ca/get.
For more information about the MintChip, visit mintchip.ca/liberty-village.
To find out how to become a participating merchant, visit mintchip.ca/merchant-info.
Founded in 2012, nanoPay is an early-stage Fintech company based in Toronto that provides loyalty and payments solutions for retail and ecommerce merchants as well as digital payment technology through MintChip, a digital currency product developed by the Royal Canadian Mint and acquired in December 2015. nanoPay combines customer identity, loyalty and payment information into single-use transaction tokens that make payments Frictionless™. Merchants can leverage customer data into insight and engage customers with content and offers relevant to them. For more information about nanoPay, visit nanopay.net.
Acquired by nanoPay Corporation from the Royal Canadian Mint in December 2015, MintChip is digital cash platform linked to a country’s fiat currency. It uses secure asset stores to move funds between parties without an intermediary and can process transactions both online and offline. The MintChip platform is agnostic to the type of user, indifferent to the use case and designed to highly secure every transaction, regardless of value. It records every transaction, in multiple locations, to enable compliance with all possible regulations and ultimately enable deployment anywhere on the globe. The platform was built on a highly scalable, open architecture that supports new, or existing payment system participants, and completes transactions at fraction of the cost of any current payment system. For more information about MintChip, visit mintchip.ca