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used in place of cash to buy a coffee or fast food, and online it was envisioned to enable easy transactions for things like buying music, news articles, or add ons for video games.
that still in its infancy but gaining in popularity, has helped, not hurt, MintChip chances of getting fully developed.
Consumers could use MintChip with a mobile device at a cash register or send money with a text message, email or potentially a social media message.
While still in research and development mode, MintChip first proof of concept implementation an integration with a retail point of sale terminal made by Paris based Ingenico is being displayed this week at the National Retail Federation annual convention in New York.
think one of the target markets or demographics for a product like MintChip is the digital native, the millennials who grew up with the Internet and grew up with Air Max 2016 Price digital type products.
digital currency system MintChip passes new milestone
think it raised the consciousness and awareness around digital currencies, virtual currencies, digital products, whatever you want to call them, he said.
TORONTO The Royal Canadian Mint ambition to launch a secure system to send and spend digital currency, nicknamed MintChip, has passed a new milestone.
don believe there going to be one (digital cash product) that going to conquer the world. said the next step for MintChip is further testing of the proof of concept implementation within the Royal Canadian Mint. External testing is expected to be launched later in the year, although he wouldn say exactly where or when that would happen.
First launched in April 2012, just days after federal Finance Minister Jim Flaherty announced the penny days were numbered, MintChip was introduced as a potential way for consumers to digitally exchange money in small denominations, in transactions of about $10 or less.
it a digital cash like product and we like to dub it as a product that been architected for the 21st century, said Marc Brule, the Royal Canadian Mint chief emerging payments officer.
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will be just another arrow in their quiver in terms of ways of paying (for their purchases) that will be easy and fast. said the rise of BitCoin, a peer to peer digital currency system Nike Air Max Grey And Pink
view MintChip as offering consumers some choice and we don necessarily see it displacing any or all of the other products that are out there today, he said.
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think it been very helpful to the MintChip proposition. eBay owned digital platform PayPal has also grown in Canada since MintChip was first unveiled and now allows consumers to spend money in their accounts at e commerce sites including Babies Us, the Bay, Best Buy, Future Shop, Macy Saks Fifth Avenue, Sport Chek, the Shopping Channel and Toys Us.
But Brule said he not concerned with the competition that already exists for MintChip and new entrants that may emerge.
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