PAC announces strategic partnership with Crypto Payment Network (CPN)

PAC announces strategic partnership with Crypto Payment Network (CPN)

PAC and Crypto Payment Network (CPN) are pleased to announce their strategic partnership that will bridge the gap for consumer to merchant cryptocurrency payments

As a result of this partnership, PAC and its global community will now be able to acquire PAC Debit Cards that will set the standard as an industry leading consumer to merchant payment bridge.

Cryptocurrency Debit Cards are not a new thing, however it’s long been known that competing products from other card providers only have the ability to act as a form of gift card/paper wallet whereby only currency can be stored/sent peer-to-peer within the chosen currencies ecosystem. The partnership between PAC and CPN features a unique ability to provide PAC to FIAT in a real-time conversion for the benefit of both the consumer and the merchant.

The cryptocurrency space is still very much in its infancy, as a result mainstream merchants new to this financial sector prefer to not have to register with exchanges in order to liquidate the assets they’re receiving as payment. PAC and CPN are reducing the steps for merchants to acquire their native FIAT currency. Merchants (depending on their country of operation) might face strict regulations on the holding and transfer of cryptocurrency into a business account for taxation purposes. Removing this step reduces accounting pressure for the merchant and enables the consumer to purchase any goods and services the merchant provides with PAC.

Domino’s Pizza and Caribou Coffee Company are the first companies to announce their partnership and acceptance of PAC through the CPN network with many other Fortune 500 companies soon to be added to the payment network in the coming months.

“We are pleased to announce the first major restaurant chain to be added to the CPN Network, Domino’s Pizza. Domino’s is a leader in the fast food industry providing a top tier product with exceptional service and is pleased to join the CPN Network. CPN has commenced the integration of Domino’s Pizza into our fast growing Network of goods and services.

The integration of such a large restaurant chain is always a challenge and will be incorporated over the next few quarters. We look forward to a long lasting and profitable relationship with the leading pizza restaurant. PAC holders will soon be buying pizza at Domino’s with their PAC card and will be enjoying many more benefits in the near future.” – Jeff Manuel, CEO, CPN

PAC, by design was created to be a spendable, transaction-focused digital currency. It features near zero transaction fees and instant, cross border transfer speeds making PAC a market leader for full scale retailer adoption. This latest partnership proves that PAC is serious about its commitment to consumer satisfaction and its expanded adoption potential.

“The technology behind the PAC card will act as a middleman between customer and merchant. This provides the bridge between crypto and fiat, making it an easy road for merchants to feel comfortable venturing into the crypto space and accepting PAC as a day to day currency. PAC is consistently pushing the boat out and forming new partnerships that its competitors within the space simply aren’t delivering on. PAC is the youngest cryptocurrency in the space to be forming partnerships of this magnitude. Whilst other projects are happy to focus on empty marketing and blanket exposure activities, PAC is actually investing its time into laying the foundation to become the worlds largest alternative payment network. In just 6 months PAC, has already become the third largest Masternode network, globally. With such robust network stability and talks of moving to a new and improved, merchant-focused blockchain solution in the near future, PAC is comfortably positioning itself to become a major player in the digital asset space.” – Brad Marsh, CMO, PAC

 

The evolving PAC and CPN network

The PAC and CPN Network is still in the process of on-boarding hundreds of major retailers from around the world, which means that use of the PACcard will be limited at first. What can be expected with companies like Domino’s Pizza as well as the other merchants on the waiting list for acceptance with CPN, is that they can accept PAC once 1 of 3 things happen:

  1. The CPN payment terminals are distributed to their physical stores
  2. The CPN payment app is completed and integrated into their platform
  3. The CPN terminals become PCI DSS compliant

Point no.3 here is the one we should all be excited about because becoming PCI DSS compliant basically means that the PACcards will become usable anywhere that traditional bank cards such as VISA and Mastercard can be used. Compliance with PCI DSS also means that we are making appropriate steps to protect cardholders data from cyber-theft and fraudulent use. It has as much impact on customer security as the businesses accepting them. Cyber-attack can mean a potential loss of revenue, customers, brand reputation and trust, so adhering to all relevant regulations to become complaint is an absolute priority to become a trusted means of payment.

How do the PAC Debit cards work?

  1. You as the customer might want to purchase an item listed in FIAT in any shop around the world but with your PACcard.
  2. You as the customer would present your PACcard to the merchant, which can be read in the typical manner by swipe, NFC or chip/pin.
  3. You enter your pin into the payment terminal to verify the transaction.
  4. The terminal will then interact with the CPN network which calculates in real time a conversion rate into FIAT, (this data is taken from multiple third party data points and API’s to provide an accurate price) this conversion rate is shown to the merchant and customer for acceptance.
  5. Upon approval, the CPN network Debits the amount of PAC from the customers account (linked to an online wallet of your choice, your mobile wallet for example) or declines the transaction if there aren’t enough funds available to cover the spend. The CPN network then send the merchant the equivalent value in FIAT at the time of purchase and will either hold or liquidate PAC via an OTC trading desk.
  6. The FIAT transaction to the merchant usually happens that same evening via an ACH, or in the case of European territories a SEPA payment, less the CPN fee (which is minimal).

Unrivaled Security

Something which should be stressed is the added layers of security that can be applied when transacting with PAC that might not be immediately obvious. Typically if your traditional Bank Debit Card is stolen and the thief has access to your PIN then they will be able to acquire an unlimited amount of funds from your bank account until such time as you are able to cancel your card from your banking provider, this usually requires a lengthy phone call, takes time and/or might not even be done that same day.

Because your PACcard is connected to an online wallet of your choice, even if your PACcard is stolen and the thief knows the PIN, as long as you have access to transfer all of the funds from your chosen wallet to another location or wallet address within the same device, the thief has no way of accessing your funds, even if they physically have your card and PIN. This added layer of security which normally your banks would have control over, is now firmly in your hands providing absolute peace of mind.

Lastly, we would like to take this opportunity to thank CPN for their support and for choosing to partner with PAC in this endeavor to make cryptocurrency payments accessible to both merchants and the general public. Physical Debit Cards are familiar and trusted as a means of payment in the current financial landscape, so bridging the technological benefits of blockchain with a convenient means of payment will only help in the long term goal of cryptocurrency mass adoption.

This Post Has 66 Comments

  1. отлично!!!

    1. I LOVE $PAC because its booming now.

  2. This is a awesome development for the PAC community.

  3. I think Pac is great, transaction speed is amazing and fees are almost nothing

  4. I think $pac is great instant transactions and low fees

  5. PAC will be the leader in mass adoption – a lot of great things in the works

  6. I hope I receive my PAC coins from airdrop. I see so much potential in it. 🙂

  7. Mass Adoption soon!

  8. $pac is a great project

  9. This is truly an innovative project. Excellent use of blockchain technology.

  10. $PAC has great community and talented developers to keep the development up to date that benefits us in real life, with the passionate $PAC team members, $PAC will have a robust and bright future in the blockchain industry. Keep up the great work!

  11. That’s a step forward for real life use of PACcoin.

  12. Interesting project with the use of blockchain technology.

  13. cool

  14. Neat Idea! Cant Wait to see it grow!

  15. $PAC would be excellent as a mode of payment on any merchants worldwide with the use of $PAC Debit cards.

  16. I love pac

  17. Great project.Love the masternode options they provide

  18. great project, great team, huge potential

  19. This is great, $PAC to the moon!

  20. Love $PAC is the Future!

  21. Very informative article about PAC coin. Well done.

  22. Paying with PACcoin for groceries… Dreams do come true 🙂

  23. I love $PAC, great projects and great community

  24. i hodl my $PAC until now.. i believe this coin and team can make it great for this future coin

  25. This is a great project with a lot of potentials.

  26. Una moneda que va llevando muy buen camino..!! es grandioso el proyecto y aprovecha de la mejor manera la tegnologia blockchain ..!!! amazing PAC$

  27. Wow!

  28. Another Great Project! Thanks for the $PAC

  29. это отличнейшая монета, сильный конкурент другим монетам, да ещё и прямая связь с фиатом в будущем.

  30. i <3 pac (although the token swap rekt me) XD

  31. fantasístico paccoin nova moeda virtual, BRASIL =)

  32. Branching crypto to real physical transaction is a nice next step forward

  33. The integration and unity of the Pac´s community

  34. Another airdrop. Nice Pac

  35. This innovative project is amazing, it will allow people to use this in everyday transactions.

  36. im long PAC holder!

  37. 👍👍

  38. The integration and unity of the Pac´s community

  39. Debit card design is cool!

  40. Great project with big potential to become a real Alternative in the Crypto-World.

  41. great project. now is the time for partnership legitimizing the project and its potential

  42. $Pac amazing project and great community 👍

  43. Fantastic project and good luck with the job

  44. GREAT PROJECT I LIKE IT

  45. I like the simplicity of $Pac app.

  46. Domino’s Pizza and Caribou Coffee Company are the first companies to announce their partnership and acceptance of PAC through the CPN network with many other Fortune 500 companies soon to be added to the payment network in the coming months.

    THIS IS AWESOME!

  47. Fantastic project.

  48. пожалуй одна из самых интересных компаний на данный момент) желаю роста

  49. hello all i hope be nice

  50. $pac = great instant transactions + low fees + mass adoption

  51. Gran proyecto!!

  52. Hi all, more crypto currency should be versatile and completive as Pac$ great team hope to see them excel further

  53. great project.. i love it

  54. With PACcard it Will attract more user in the future.
    Have 2 known companies that already adopted $PAC expansion is inevitable.
    Great move.

  55. Excellent project. Keep going guys!

  56. I can see it coming with a blast! Thanks to $pac!

  57. this is an amazing partnership. PAC and CPN,GREAT PROJECT.

  58. Great project to look forward to.$PAC!!!

  59. Sweet!

  60. Wow. PAC has a lot of potential. This will be the next CRYPTO SUPERSTAR. Im keeping my eye on to this project.

  61. $PAC is the best for me. Great project. Nothing can beat $PAC.

  62. I wonder if we can see the CPN and PAC debit cards on Latin America in a near future. There are so few cryptocurrencies exchanges working on these countries, the market is so small and exclusive, that implementing a cryptocurrency Network will easy the adoption there. I´ll wait an see for that change, anyway I already see a big grow on $PAC market and community, well done $PAC.

  63. Very Nice <3

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