MintChip - Canadian-made digital cash

[jalmir]

Not sure if it's in the right section, so mods, please feel to move it to the right section if it's the case!

So I just saw that on CBC, apparently the Royal Canadian Mint now has an app that lets you transfer digital cash for free?

It's called MintChip, it's operated by nanoPay and they somehow compare it to cryptocurrency, this honnestly confuses me as it seems to only be a Paypal for Canadians only (or maybe not?) ... am I missing something? h34r:

MintChip launch Tuesday brings Canadian-made digital cash to consumers - Business - CBC News

 

[sswilson]

Yeah.... I don't get it.... how is this any different than EMT between individuals or debit between individuals and business'? The only thing I see different is that it's encrypted so perhaps it's attractive to folks who want to launder money or not have their transactions open to government scrutiny?

 

[crzyminer]

MintChip

It's digital cash platform created by the royal canadian mint,bought by nano pay. I just checked out the mintchip site explains what it does. here's link to the sit if you want to learn more about it https://mintchip.ca/

 

[JD]

lol...launching in Liberty Village.

Looks to just be a "free" way to send money between people. I can see how this helps those small businesses so they don't have to pay the insane fees from Visa/Mastercard/Interac/etc. It has a $500/week cap though. And it has the fancy Apple Pay-esque app support. That's really what the Liberty Village people are after

AFAIK, EMT doesn't have such apps and most banks charge you to use it.

Also: https://nanopay.zendesk.com/hc/en-us/articles/209678266-What-fees-are-associated-with-MintChip- You do have to pay 3.25% to add funds from your credit card. Only free to add from Interac Online.