Kinesis Money announces the induction of its UK and EU debit card program with Contis Group, the award-winning platform as a service (PAAS) that produces end-to-end banking and payments solutions. Kinesis has selected Contis for its European and UK debit card solutions and has officially started developments, scheduled for release in Q4.
The release of these EUR and GBP-denominated debit cards will cement Kinesis’ position in the market as a formidable global fintech player. The Kinesis debit card will allow Kinesis’ clients in the UK and Europe to easily and efficiently use their Kinesis currencies to make purchases anywhere that has a merchant facility, as well as withdraw funds via global ATM networks.
Kinesis is an evolutionary monetary system using the real assets of gold and silver as the basis for digital currencies. These currencies provide a 1:1 allocation of physical bullion, with the transaction, fees accumulated whenever the currencies are sent, spent or traded and then proportionately redistributed to Kinesis currency and token holders as a velocity-based yield. These yields grow as the user base grows and recur forever, creating a monthly income for users, against everyday transactions and holdings.
The new debit card is to be powered through a partnership between Kinesis Money and Contis which enables customers to leverage their extensive partner network. Contis Financial Services Ltd is authorized by the Financial Conduct Authority.
The Kinesis debit card is set to be integrated into the highly anticipated Kinesis Monetary System, scheduled to launch in Q3 2019, providing seamless spending and management of the Kinesis, blockchain-based, gold and silver-based currencies.
Thomas Coughlin, CEO of Kinesis Money, comments: “It’s a positive step for us, as this partnership with Contis represents an important step in the release of our pioneering Kinesis Monetary System. The global shift towards agile banking is picking up momentum, and Kinesis is setting a precedent in this banking evolution. The new Kinesis Monetary System and associated debit card aim to provide a stable, trustworthy platform based on physical gold and silver currencies that consumers are looking for.”
Flavia Alzetta, CEO of Contis, comments: “Contis is excited to be moving forward with Kinesis Money who have exciting potential and ambitious plans. As their partner for their card issuing and account, Contis’ highly configurable and reliable platform will enable Kinesis to scale as they grow. We look forward to partnering with them on that journey.”
About Contis Group
Contis is a leading provider of award-winning, end-to-end, banking, payments and processing solutions. Founded in 2008 by Peter Cox, Contis’ proprietary, scalable platform manages both bank and Visa payments in real time. One of the FT1000: Europe’s Fastest Growing Companies 2018, and a 2018 Sunday Times Tech Track 100 Fastest Growing private financial companies, Contis has offices in the UK, Europe and India providing modular banking solutions to third parties, in addition to a number of branded and white-label banking products, offering full current account capability. Contis benefits from a full license suite, including FCA eMoney License covering the EEA, and is a Principal Visa member with sponsorship capability.
For more information, contact:
CONTIS: (Marlin PR): Jared Foley, [email protected], T: +44 207 932 5580
Kinesis is a monetary system based on the traditionally stable commodities, gold, and silver. Kinesis users can instantly spend their precious metals holdings at point of sale anywhere in the world with the Kinesis debit card or transfer directly over the blockchain, opening up cross border payments with low transaction fees. Unlike other gold and silver backed cryptocurrencies, Kinesis currencies are divisible digital units of physical gold and silver, using the blockchain as a medium of exchange and a registry of ownership. The movement of Kinesis currency creates velocity and fee sharing yields that are given back to participants, every month, creating a passive income.
Holders of the Kinesis currencies have allocated legal title to the underlying physical bullion holdings that are fully audited, eliminating counter-party risk and allowing for physical redemption directly from one of seven Kinesis vaulting providers.