AlliancePay cards have been distributed to NetLeaders Advocates in Dubai as the proof-of-concept digital payments program continues to go from strength to strength.
By linking with leading international card payments processors, AlliancePay “can be relevant to 62% of the global population and from a GDP standpoint that number is 81%,” Blair told advocates at the third Global Summit in Dubai. “That is a huge thing to consider”.
To a growing crescendo of cheers, he added: “I’m happy to tell you that physical payments cards are active. The payments cards are physically at this table here. Our next speaker Brian [Semkiw, Carta co-founder] will be elaborating on the cards a little more.
“They are physical, tangible objects. We can put them in our wallets and spend with them. They also engender trading velocity. Trading velocity is the speed with which a dollar or a euro or a bitcoin or DasCoin changes hands. Economies that function well have high trading velocities. When we can begin to appreciate that these physical cards can be used in very short order we can begin to understand that they will unlock a significant amount of trading velocity that doesn’t exist.”
AlliancePay is just the start: The graph above outlines the full potential of the wider DasPay scheme
Since 30 June, AlliancePay has been gradually rolled out as a digital-only payment solution. Now, having a card opens up an additional layer of convenience and also provides access to ATMs.
The system is still at the proof-of-concept phase. However, in the first half of 2019, the company will start to scale up its full commercial card program.
Brian Semkiw, the founder of card payments solutions provider Carta, and who is working closely with Blair, issued an appeal to the advocates to refrain from showing the cards from being used in video clips until the proof-of-concept phase has been successfully completed and the commercial program has been fully launched.