Kinesis wants to take things further by introducing a unique type of debit card which relies on the token for the usage in all types of activities, whether you want to buy a coffee from Starbucks or get yourself that juicy steak.
The Kinesis debit card is here to help you, and for this to work in our era where each millisecond maters, it has to be fast and efficient while maintaining your tokens secure. It also features the option to exchange tokens for other Fiat currency at will, at an affordable rate.
Apart from the wide use of applications, this token is backed by a precious metal whose value not only endured the test of time, but rather increased and as a result you can expect even more benefits from using the debit card.
So far so good, right? Let’s try to understand the technical part by asking ourselves a question which needs a straightforward answer: I decide to buy myself a coffee using the debit card, how is the money deducted from my account?
It all comes down to KFN (Kinesis Financial Network) which is basically a mobile banking system connected to your Mastercard/Visa debit card.
The payment operation is done dynamically due to the connection between your card and your mobile e-wallet where your coins are stored as a result each successful transaction deducts a certain amount of coins.
The price of the card is reasonable as you can acquire one for $3.00. The monthly fee for your primary card is $1.00 and if you opt for a companion card (which is a card that can be created for kids or family members who are currently abroad) you will have to pay an additional fee of $1.00 per month.
ATM withdrawals, will cost you $2.00 and balance inquiries $0.50 while local use of the Visa / MasterCard Network are free.
Things look better when it comes to mobile fees as to move funds to/from mobile wallet into/out checking/savings account will cost you only $1.00 per transaction while moving money from mobile wallet to your debit card or another mobile wallet is free as well as the merchant processing fees.
Transferring from Kinesis to Mobile Wallet / Debit Card will cost you only 1% of the transaction amount.
Read more about Kinesis on out
website.
