Novatti - The $1 party, page-3067

"Since then, Novatti has invited cryptocurrency
exchanges to trial a new product but the exact details
of that product have not been disclosed to the public.
Based on the name of their patent application and
commentary from Cook, Emerald Financial expects
that technology between Novatti and crypto exchanges
would link the crypto exchange to a Novatti product.
One scenario of this might be a Visa card where the
user makes a purchase where the merchant receives
the funds in fiat, but the funds are taken from the user’s
cryptocurrency wallet (held at the exchange) where
Novatti can instantly process the fiat amount based on
the exchange’s spot price.

This would solve a customer problem by enabling
them to use crypto for day-to-day purchases while
the corresponding merchant still receives full payment
in fiat. Novatti would potentially take a clip on the
exchange rate, or offer the card with a monthly fee. By
engaging directly with crypto exchanges, the multicurrency
element becomes more appealing if the user
can designate their preferred transaction currency
which has no impact on the merchant.

Such a mechanism would be the next iteration of
Novatti’s crypto payments products having partnered
with Sydney-based startup CryptoSpend in June 2021
for a Visa card that allows users to pay for goods
in a store using their cryptocurrency with the cards
to be issued by Novatti. These cards were formally
launched in January 2022 and represented the first
time cryptocurrencies can be spent on a card issued in
Australia.

The launch also highlighted global moves by Visa
to make it easier to spend Bitcoin and other digital
currencies to pay for everyday items. By selecting
Novatti as the cards’ issuer, CryptoSpend secured
the benefit of Novatti’s digital payments infrastructure
which enabled the cards to be mobile payment
functioning, which enables users to tap their phone to
instantly exchange Bitcoin to AUD while merchants are
paid instantly in AUD.

This is something that will be particularly appealing
to investors who have ridden the crypto market to
Bitcoin’s all time highs and now want to cash out "
p11

This would be a gamechanger! Go NOV!