nTrust is a Canadian technology business, headquartered in Vancouver, BC, Canada. The company’s proprietary mobile app enables users to deposit money into digital wallets where it can then be sent to other nTrust users and bank accounts, or used in mobile payments and bills pay. The FinTech company also offers two types of prepaid MasterCards (a physical card and a 'lite' card that can be used for online transactions). nTrust is a money services business registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and is strictly regulated.
Contents
Online Money Transfers
nTrust's main service is based around a mobile app that allows users to make global, person-to-person money transfers. Users sign up for a Cloud Money account, which they can use to store and send funds digitally to each other and to and from traditional banks all over the world. The platform supports deposits using traditional banking methods as well as electronic cash and wallet services.
Prepaid MasterCards
nTrust offers its members two types of prepaid MasterCards. Users can load funds digitally to either a physical card that can be used anywhere in the world that displays the MasterCard Acceptance Mark, and/or to a 'lite' card that can be used online.
Mobile Payments
nTrust's mobile payment technology was first publicly piloted at a series of food truck events in Vancouver which began in June 2014, and was released publicly in October 2014 to students at the University of British Columbia Point Grey campus.
This mobile payments system was officially launched to the public in April 2015. Over two dozen located in downtown Vancouver, BC are now able to accept nTrust mobile payments from customers paying with the nTrust app. Twenty-five percent of each transaction fee collected by nTrust will be donated to a charity chosen by the user.