Feature Article

April 08, 2015

Cloud Money from nTrust Expands to Over 20 New Merchants

A day may well be coming for a lot of people out there in which a wallet is as useful as a buggy whip once was. Thanks to growth and change in the mobile commerce field, we're reaching a point where it's not only possible to shop from a mobile device, but also to take a mobile device into brick-and-mortar stores and use it as a platform for shopping. The Cloud Money network from nTrust is working to make that day a greater possibility than ever before, and the company has added over 20 new merchants in Vancouver to help make that day arrive.

Digital wallets are nothing new, and often require a credit card to be linked to the wallet system to make payments happen. But with Cloud Money, users instead add money directly to a cloud wallet system, almost creating a prepaid style interface that lets users use a mobile phone in just the same way they would a wallet, making for a convenient system that allows users to determine the amount of cash exposed in such a method. Consumers can add payments via the nTrust app, available for Android and iOS, and then when purchases are made, funds are automatically debited from the consumer and credited to the seller.

Those merchants that sign on with nTrust get some advantages as well. Vendors can use several devices in aid of running a business, and get access to free accounts without contracts or monthly dues. The first $10,000 in payment processing is done at no charge to the business, and payments made after that are subject to a charge of just one percent. Many of the businesses who have recently signed on are restaurants, but several retailers have also joined the fray, ranging from Gastown's tees.ca to Mt. Pleasant's Rockin Cowboy. There are even a couple of food trucks, including Soho Road Naan Kebab and Old Country Pierogi.

Rod Hsu, who serves as nTrust's president, notes that consumers are using cash less often, and its practicality in decline, which is prompting more businesses to accept mobile wallet systems. Several businesses have approached nTrust about new options to meet the growing demand for these tools, and based on the new signups, have not gone away unhappy.

Perhaps the best part is that consumers can readily gain a level of protection by putting up a certain amount in an account, and not having to expose a driver's license or the like to theft. Plus, the versatility of the mobile wallet system helps consumers further; taking cash to a food truck, for example, can be a difficult prospect that not only causes inconvenience but can spread germs; cash can be a surprisingly dirty item. But a mobile wallet system allows for a few button presses or finger swipes to pay for goods, without contact with food service.

The nTrust Money Cloud system seems like a great, versatile new option for both users and merchants alike, and might well continue to see growth in the months ahead. When the option is sound and easy to put to work, it's hard not to make the move.




Edited by Dominick Sorrentino


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