Cryptanite Partners with Dwolla to Process Online Payments

25 Apr 2018

ChargaCard payments app positioning to become go-to merchant solution for faster service, lower transaction fees

BOULDER, Colo. (April 25, 2018)—Cryptanite Blockchain Technologies Corp. (CSE: NITE), a Colorado-based blockchain technology company providing secure peer-to-peer payment systems, today announced it is teaming up with Dwolla, the white label e-commerce service utilizing ACH payment systems that is used by millions around the country. The agreement takes effect immediately, enabling the company’s ChargaCard payment app, which is in private beta test mode through May 1, to utilize Dwolla’s powerful functionality.

“Lower fees, improved transaction speed and increased convenience are the three biggest benefits that ChargaCard’s customers will see right away,” said Maria Eagleton, co-founder of ChargaCard. “Our collaboration with Dwolla can help save merchants time and money, and it is in line with our mission to bypass the predatory and destructive tactics used by the debt collection industry.”

ChargaCard’s innovative online platform facilitates the creation of direct credit arrangements between merchants and customers and bypasses expensive third-party financial institutions and debt collection agencies. ChargaCard can also help merchants recover past-due invoices and provide customers with flexible payment plans with zero percent interest rates.

The combination of ChargaCard’s and Dwolla’s capacities means that merchants using the ChargaCard app will soon have the ability to pay a one percent payment processing fee, instead of the three percent plus fee typically associated with such transactions. For small businesses, these percentage points can add up to tens of thousands of dollars in savings. And Dwolla’s built-in security measures provide additional security layers to protect user accounts.

“The partners leveraging our platform, like Chargacard, are at the heart of what we do,” said a Dwolla representative. “We are always excited to see new applications implementing Dwolla to build the payments functionality they need, leveraging the U.S. banking system to send and receive funds.”

About ChargaCard:

ChargaCard is on a mission to help businesses recover past due invoices and set up automated installment plans for customers with zero percent interest rates. ChargaCard’s secure network will help businesses recover customer expenses by offering alternatives that bypass expensive third-party financial institutions and predatory credit card companies with a zero percent merchant fee. ChargaCard is a wholly owned business of Cryptanite Blockchain Technologies Corp. (CSE: NITE) and is based in Boulder, Colorado. For more information, visit www.chargacard.com.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the word “will” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.