Spend Visa® Card — Canada Launch & Virtual Card Visa Approval
Spend has been approved for quite some time to launch the Spend Visa® Card in Canada, and there have been a lot of moving parts for us to reach the goal of being the first company in Canada to offer a product of this magnitude to Canadian citizens. We are happy to announce that Spend is now approved to offer both Physical & Virtual Visa® Cards, meaning our speed to market has now increased. On or before June 1, 2019, we will begin shipping our Non-EMV Magstrip Spend Visa® Cards to our clients, as we await the completion of our EMV Certification. In addition, we will also offer clients the option for a Virtual Visa® Card. Once our EMV Certification is complete, we will ship our Dual-Interface EMV/NFC Card replacements to our clients who have the Magstrip Spend Visa® Card, free of charge.
Within the next 3 weeks we will enable the CAD Wallet, where users will be able to use EFT and Interac to Buy & Sell Crypto and as a CAD fiat on-ramp/off-ramp.
New Comprehensive Rewards Program with Strongest Rewards Back Amongst Competitors
Spend.com now has the highest rewards back percentage in the industry, topping all competitors in the crypto-payments space. Starting today, Spend Black members will enjoy 6% Rewards Back on ALL purchases with no limitations and 4% Wallet Rewards back on ALL purchases made in-app. Spend Preferred members will also enjoy an increase to 2% Rewards Back on ALL purchases and on ALL wallet in-app purchases. To enjoy these new upgrades, users will be required to keep their SPND lock after the 6 months are expired. You will be able to unlock your SPND at anytime after the 6 months, but you will lose the enhanced rewards back percentages. Spend Black now requires a 250,000 SPND Lock and Spend Preferred requires a 25,000 SPND Lock. All previous Spend Black cardmembers are grandfathered in.
As we gear up for our new Rewards Program Enhancements, we are also proud to introduce details of our Spend VIP Program! Spend Preferred and Spend Black Members can receive an additional 5–20% Rewards Back on purchases from top retailers such as Bed Bath & Beyond, Target, Starbucks and many more, where applicable. This reward is in addition to the current rewards. Some users may receive up to 26% back on select purchases. Through a new partnership, our Spend VIP Rewards Network will include brands people shop with on a daily basis, and also local offers in their areas within the United States. Spend VIP for International clients will be further detailed in the next few months as we expand these membership benefits. The Spend VIP Rewards Network is a true benefit for our ecosystem as these new rewards are actually compensated by the retailers, therefore these SPND Rewards will be purchased from the market and not from our Proof-of-Purchase distribution plan.
Cross Ledger Testnet
Cross Ledger will be the native blockchain for Blockchain University, which will power Proof-of-Support to create a decentralized educational platform. We have been allocating a lot of resources to ensure we get our Testnet up and running for our users. We have shown in our global Road Map when we anticipate the release of the Blockchain University White Paper and Cross Ledger Testnets.
Spend Wallet v2.5
Spend Wallet v2.5 will be our largest upgrade in terms of a variety of new features that will be implemented. We won’t go into detail of the exact features we will release, but rather give a tentative date on when we plan to release this version. Spend Wallet v2.5 will be available on the iOS App Store and Google Play Store on or before June 1, 2019.
Spend Global Road Map
Spend.com is now proud to announce a new global road map to articulate our launch plans & public features we are rolling out in a milestone format. This will be updated constantly to include any and all important Spend milestones. You may see the roadmap here:
Third Party Exchange Feature
Spend Wallet v2.5 will include a feature where users are able to leave custody of their Cryptocurrency on our selected integrated exchange providers and still have access to spend their funds via the Spend Wallet and Spend Visa® Card. This feature has been in the works for quite some time and will leverage our relationships with top Cryptocurrency Exchanges to enable our users to have the ability to leave their assets on their favorite exchanges and simultaneously be able to spend those balances on their Spend Wallet. As this feature rolls out, we will provide more insight on which exchanges we will be integrating with and how users can link these exchanges to their Spend Wallets.
Spend Reddit AMA
Spend.com takes an opportunity once a month to interact with its communities and tries to answer all questions that can be answered publicly. If there are questions we can’t answer, we will indicate that and the reason why we can’t respond below.
senseiichimoto — what about the low value of spendcoin?
Spend does not control the price of Spendcoins. Spend Foundation has created Spendcoins to be used in the Spend ecosystem of products. We can’t comment on the price of Spendcoin as that is not it’s intended purpose within our ecosystem.
Knt4getherevnaftr4yr — Spend need’s a token burn or buyback.Everyone who bought spendcoin is disappointed with the price,do something about this.
Spend does not control the price of Spendcoins. Spend Foundation has created Spendcoins to be used in the Spend ecosystem of products. We can’t comment on the price of Spendcoin as that is not it’s intended purpose within our ecosystem. Spend will not partake in any buyback or token burn as that will make the coin a security/investment, which is not the intended/marketed purpose of Spendcoins.
huski1136 — Is it true that you had raised 3x circulation all of sudden?
CoinMarketCap and other coin data providers did not have the correct circulation on their respective websites. Blockchain Data shows that when this circulating count increased there had been no other activity to cause the change. The only reason it was changed was that CoinMarketCap and others finally updated their methodology and locked addresses to properly determine the circulating count.
aameeshah — What are Spend VIP and Elite Benefits specially outside USA? When will Preferred and Simple options be available for UP cards? When Exchanges? Banking will be globally accessible? TG admins said yes. When UP cards start shipping globally? Its possible to order right now? Only seeing Visa option in App (in non Visa Country). Network Transaction Fee is high on UP? This is on top of 1.5% load Fees. Inactivity fee. Does this occur on non-usage only or need like min 1k trxs? Will Wallet buy/sell count towards activity or it needs to be on card.
Spend VIP Elite Benefits give an enhanced rewards percentage back on top retailers and brands in the United States. Spend VIP Elite Benefits in other countries will be determined once the Spend VIP Network expands in those areas. The Spend Preferred and Simple options are not available for Union Pay and will not be available. Our Union Pay program manager does not have those programs approved and this program was created as a substitute alternative until we have Visa issuers in those regions. Spend Union Pay Cards are available to order now. The Network Transaction Fee is determined by our Program Manager and Issuers. We are focused on bringing more Visa issuers to help with the pass-through pricing to our users. In-Activity Fee kicks in when a user does not use his card for over 30 days. Wallet activity does not constitute activity on the card.
_Sevlow — I love spend so far. I’ve made many purchases and 1 atm withdrawal. Thanks for you service. will the new 100,000 spend requirement happening on the 18th have better benefits than the people that bought 25000 lock up? Or all the same? Do you plan on adding more incentives to get a black card and lock up tokens. For example, airline miles or subscription discounts, LoungeKey access etc? I love the card, I just need more reasons to have “another” debit card. Can you provide more information on the benefits we get as black card members? What is the process used to adding more digital assets?
The new requirement has increased to 250,000 for Spend Black and 25,000 for Spend Preferred memberships, respectively. The previous users who already have their memberships will be grandfathered in and receive the same benefits. We are adding more incentives to our Spend VIP Network to constantly bring new benefits to our members. We have no other public information at this time other than the new 5–20% additional rewards back at select top retailers in the United States. In our new global roadmap, we have targeted to add 50 digital assets by the end of the year.
Randal2555 — Will there be an increase to the Preferred Card and Black card? When will the new bank processer be implemented? Will there be an airdrop? The price of SPND is low. How will you work to increase that? When will you be in the Binance Exchange?
Yes, the new increased amounts to lock up are mentioned above. The new bank processor will be implemented by our v2.5 release, which we have set for 6/1/2019 or before. There will not be an airdrop implemented into our ecosystem. We cannot comment on the price of SPND as the price is not a factor to benefits you can receive in our ecosystem. Spend will not influence or control the price of Spendcoins. No comment on exchanges.
tjjcrypto — I lock for black card. My friend & my family use my code sign up and verify account . Why Me and my friend don’t earn reward? How long me and my friend my family earn reward?
This is an isolated issue. Please email us at: [email protected] so we can further assist you.
ams_wu — Will there be a block reward once the mainnet is launched in September ? How much of the 2 billion will have been issued by mainnet launch ?
Cross Ledger mainnet will be a delegated proof-of-stake blockchain. There will be forging rewards for forging blocks on the ledger. The mainnet has been pushed back and we will have more details on that after the results of our testnet.
Badboy5689 — What new partnerships have you guy’s secured ?
Spend is constantly creating partnerships & relationships behind the scenes to consistently grow our ecosystem of products and services. Some partnerships will be made public, while others will remain private for competitive advantages.
Nikhil678 — As per details of token distribution of Spend Enterprise Association, Holders of those partnered coins will receive SPND to their Spend Wallet to further promote the companies membership of the SEA for its users. Q1. Can we know which partnered coin got these funds till now and how much? As over 500+ BTC equivalent spend liquidated by them on exchanges in last few weeks. Q2. On what basis team select for SEA partners? Q3. How they r using given funds i.e. promoting spend etc? As only 10+ listed Eos, eth, trx, ada, poly etc but none of them promoting spend. Q4. Out of current circulation of 144 m, SEA share is 83m as they unlocked 4.1% of 12.5 % distributed, which is 57% of current marketcap? So it is important for us to know more about SEA? Team going to increase holding amount from 25k to 100k? How will it help in mass adoption? How can middle class user lock token worth 6–10k USD? So should have plans for both maybe categories different cards with different benefits.
Our Spend Enterprise Association Allocation (0x53Ea0ba31D1Fb02722B93ca9b96B74B15Be319A5) is designed for our third parties that utilize the Spend Wallet and are listed on the Spend Wallet. Currently, a total of 83.3M SPND has been distributed to these third parties. These third-parties are either utilizing their own custom solution with Spend Business and white labeling products or other services we provide. These third parties are under NDA and are freely able to do as they please with their funds. Moving forward, we are going to control these distributions to include time locks and other controls. However, this won’t apply for the current third parties. Spend, Spend Foundation, Advisors, Founders, and the Team overall have no control over these third parties, who can do what they freely choose to with their current distribution. However, with that being said, we are NOT adding anymore SEA members at this time, while we work to improve this program for the overall ecosystem. In regards to our Spend Membership programs, we do not have any plans to change from the current 3 we offer.
aameeshah — What measures are being taken to make Spend a popular and well known brand in crypto and otherwise. Is spend partnering with more exchanges? Get Spend listed in top exchanges while adding exchange coins on Spend platform. It’s great deal for both parties.
Spend would love to have more markets available to open up more potential users to utilizing Spendcoins in our Spend ecosystem of products. We do not comment or discuss any potential exchanges or markets.
Geekkyy · What are the roadmap details and any new high volume exchanges apart from kucoin ?
Our new roadmap milestones have been released. We have no comment on exchanges.