The company’s platform uses blockchain technology to ensure that once a transaction is completed in a store or on a website, no information is left behind, and there are no merchant chargeback fees. Once a transaction has gone through, the merchant is assured that it’s final.
Businesses can accept credit card transactions in digital and traditional fiat currency, as well as PayPal and Apple Pay, as the solution delivers a universal plug-and-play merchant API capability. Selected ecommerce sites doing a minimum of two million transactions a day have begun testing it.
NetCents is a fintech company that started working with banks serving the online gambling sector. But when the legislation came down aiming at money laundering, banks got cold feet about getting involved with gaming sites, the company’s representative said for BetaKit. Instead of giving up, the company pivoted away from the online gaming sector and aimed at the merchant marketplace. Eighteen months later, in 2016, they are still at it, the site continues.
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