MintChip transfers value by creating a digital representation of cash (e.g. Canadian currency) and storing that value in a digital vault. The process is similar to transferring cash between safe deposit boxes within a vault. Using patented technology, all payment transfers are encrypted, which provides a more secure way of exchanging funds compared to today’s credit and debit cards. Unlike many other payment methods, the MintChip platform processes transactions instantaneously and requires no third-party processing or settlement.
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