nTrust, the rapidly growing technology company that is innovating in day-to-day transactions, has announced the expansion of their Cloud Money merchant network with the addition of 20+ new Vancouver (Canada) businesses, bringing Canadians one step closer to eliminating the use of cash and card.
Unlike other digital wallets which enable payment by leveraging a credit card, nTrust allows consumers to add funds to their cloud wallet to pay merchants with real funds using their mobile phone, eliminating the need for a real wallet.
As nTrust merchants, vendors can run their businesses from anywhere and on any device. nTrust merchants enjoy a free account, no contract or monthly dues, as well as the first $10,000 in free processing followed by low transaction fees of just 1%.
"As consumer usage and the practicality of cash decrease, we're seeing businesses become increasingly savvy with their payment technology," says Rod Hsu, President of nTrust, in an official press release. "In recent months we've had business approach us directly in search of new payment options to meet consumer demand and give them an edge up by offering an increasing convenience. We believe in helping people access their money wherever and whenever they need and so we've taken the mobile wallet a step further than others available on the market. Using this technology alongside our merchant partners we've created a closed loop economy with a single fee and automated donations."
Consumers can effortlessly make a payment at any of the participating merchants. First, users add funds into their nTrust Cloud via the nTrust App for iOS and Android. Once at any of the merchant's downtown Vancouver store front locations, the user instantly pays for the goods. Funds are debited from the consumer account and credited to the merchant account and displayed on the hands free Live Feed feature in real time. There is also an automated donation to a local charity of the consumer's choice that takes place with each payment, as part of the company's Be Good initiative.
Consumers in search of an easy, quick, and secure payment option to replace their wallet, cash, and card can get the app from iOS and Android app stores.