We’re thrilled to announce a special incentive to encourage people to attend the Dubai Global Summit (Nov 21-25) – and it involves our exciting digital payments solution. If you are not one of the 500 people currently involved in the AlliancePay proof-of-concept phase you can still join them at the top of the list for the full commercial program – once it becomes available – if you come to Dubai!
AlliancePay’s Blair Baker and Brian Semkiw, Co-Founder of Carta Worldwide, both joined Vivian O’Callaghan on this week’s Wednesday Webinar to explain this offer in full. They also provided full details on the AlliancePay story so far, news that the first proof-of-concept physical cards are in production and will be ready for distribution by the time of the Dubai event, and another reminder to get fully KYC-compliant to make use of this great opportunity.
Here are the best bits from each of them:
“We can announce that AlliancePay has produced more than 325 transactions from cardholders on six continents. The
Road to Dubai tour through Asia produced additional transactions in Singapore dollars, notably at Pizza Hut in Singapore. We find fast food is quite popular with AlliancePay holders.
“Continuing to move the AlliancePay digital card forward expansion is going well. Feedback often ends up in Telegram, WhatsApp and some of our other fora. We are able to have some very good visibility and transparency into the transactions taking place. Carta provides us with some good reporting features. We can’t see specifically what’s being bought but I think we can assume if someone makes a payment to Pizza Hut then they are paying for pizza!
“Advocates like to be able to compare the number of DASC being debited and compare it to the actual charge in euros, and then, if applicable, look at the corresponding charge in local currency.
“We’ve seen a few people utilise a strategy in which they purchase DASC on exchanges at prices that are relatively low. Then, after seeing some appreciation in the price of the coin, they can then calculate they have made a saving of up to 10% based on when they were able to purchase DASC on the exchanges.
“It reinforces not only that DASC is good for liquidity in terms of purchasing licenses for a long-term view but it’s enabling commercial liquidity too. The transactions that are made are commercial transactions. By settling transactions with a variety of merchants – people are buying their Halloween costumes this week using their AlliancePay card – there’s a lot of utility that’s being established.
“It’s a great benefit when you think about the couple of thousands coins are out there. I still maintain that safely speaking 98 to 99% of coins out there do not have any commercial liquidity associated with them.”
“We will be having some very exciting news in Dubai. It can seem like a painstakingly slow process. We need to be very concerned about the schemes that JCB, Mastercard, Visa and the banks themselves apply in terms of counteracting terrorism and money-laundering.
“This tends to drive concern in the payments program, not just for AlliancePay but for all programs. The fact we have live transactions using a virtual card right now is an achievement that should not be diminished. When we move from virtual cards to plastic cards it’s another new area of concerns. We have 500 AlliancePay cards going out soon. We had hoped to have them out in September.
“We are a little delayed and I have to blame you Europeans because you take the month of August off and frankly that really hurt us! But things are on track again and I am quite confident that either before or no later than the Dubai event all the people on the list for the first 500 cards will receive their cards.
“Once the proof-of-concept phase is done – we think that will be early in 2019 – we should have the full commercial program out and that’s the program you can all brag about. While we are in proof-of-concept don’t do videos, don’t do anything out of the ordinary. Show the card, show it being used but don’t do any unusual promotions of that. When we do the full commercial roll-out it’s with a completely different bank and the DasPay/AlliancePay program and card will be really unique in the world. We’re really happy and I hope to see everybody in Dubai to announce some further updates.
“People who come to Dubai who aren’t part of the 500 will be prioritized so that’s an incentive to get to Dubai. Come there and you go tot he top of the list and as soon as the full commercial program gets rolled out in the New Year you get your cards first. We promise that.”
“Out of the 500 advocates who were initially invited onto the AlliancePay pilot scheme, there are still 110 who are not KYCd. We cannot stress any further that unless you get KYCd in the meantime you will NOT get your card in Dubai. You just have to make sure you are KYCd and do contact [email protected] if there’s anything you don’t understand.”