Back in 2012, the Royal Canadian Mint launched the MintChip challenge, asking iOS developers to participate in a content to create a digital payment app using their new MintChip technology, with a grand prize of $50,000 up for grabs.
Toronto-based fintech nanoPay eventually acquired MintChip in the winter of 2015 and later in 2016 launched the MintChip iOS app, to allow users to send and receive digital cash, plus shop at stores with a QR code. Of course, this never gained popularity.
Today, nanoPay sent out an email to MintChip members to announce the app is shutting down on December 20, 2018. Members are being told to withdraw their balances before the closing date, or risk their money being lost when accounts close:
In 2016, we launched MintChip to showcase our digital cash technology and provide Canadians with a faster and more convenient way to send and request money. We are extremely proud of what we have accomplished these past two years, helping Canadians share millions of dollars over thousands of transactions. Moving forward, we are excited to launch a new business brand, Ablii.com, an online payment solution for small businesses. Our focus is to enable banks and businesses to adopt real-time payments, and to realize our vision to provide central banks with the evolution of currency. Therefore, we have decided to discontinue the MintChip app effective December 20, 2018. We want to thank you for your support and loyalty along the way.
The MintChip team concludes to say “Thank you for being a part of our journey.” Who wants $2? Send me an email!