PolisPay card which has good number followers has made a comeback after months of suspension by the project owners. This was made known by the team through a medium post
.According to the release
, the project suffered a hiccup due to a misunderstanding between the technical partners who were behind the issuance and the team. This led the founder to apply for own license as a cryptocurrency card provider.
Despite the efforts involved in the quest, the team’s determination is yet to pay off in acquiring the necessary authorization from the relevant international agencies.
However, PolisPay has commenced the building and integration of a payment solution within its app. This was made possible after many months of brainstorming on ideas provided by stakeholders in the community.
The latest success was not so much as a result of licensing but a new partnership with a payment solution provider, UnionPay.
With the final negotiations completed, the work within the app will give the users of PolisPay and others the long-awaited payment solution they have been waiting for.
The new arrangement necessitates review of the fees charged by the platform in the following ways:
There’ll be a yearly fee of $35 paid in POLIS. Then a 3 percent conversion fee also paid in POLIS. The use of automated teller machines with the card attracts a flat fee of $4.5 while POS terminals use fee is $1.5.
The statement further stated that the maximum daily load on the card would be 0.15 BTC. It highlighted that this benchmark would be increased in future.
Other details are $50,000 maximum monthly fee, and another upper limit of 12 loading per day. The highest daily spending limit is $2,500 while per session of withdrawal will not exceed $500.
The team announced its beta test session which has taken off with 500 cards. Subsequently, enrolment would require signing up processes.
The release stated that this is not the final solution to the vision of the project as it is still working on Mastercard payment in the future.