As a digital payment technology with many of the attributes of cash, MintChip was initially developed by the RCM in around April 2012 and as a fiat alternative to Bitcoin – then being billed as a digital currency stored on a microSD card.
NanoPay has developed a mobile-payment offering that is similar to the Apple Pay, a mobile payment and digital wallet allowing users to make payment with their iPhone 6, 6 Plus, Apple Watch or iPad.
The technology behind MintChip, which allows anonymous transactions backed by the Canadian government and is denominated in a variety of currencies, enables consumers and merchants to exchange values. While currently focused on fiat (government-backed) currencies, in theory, MintChip can support an unlimited number of currencies.
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