Polis is an actual cryptocurrency while Polispay is the platform. The cryptocurrency is meant for communities and allows them to connect and trade freely. Polis currency makes use of the decentralized blockchain technology so as to solve the numerous challenges of global communities.
The Polis team has been doing a good job of keeping their identity and faces behind their projects private. They just recently shared information about who is behind their operations. The company behind this platform is Kindynos which is a software company.
The CEO and co-founder is Enrique Berrueta and he has a lot of experience in managing socially-oriented companies. He has also worked as an advisor to different organizations over the course of his career. The other co-founder and chief business officer is Apollo. He has a background in corporate law. He is assisted in his current position by another founder, Poseidon who is also a board member and has co-founded other companies.
Other Polispay team members
- Enrique Berrueta — Chief Business Officer and founder
- Ricardo Bustos — Chief Operations Officer
- Sebastian Franco — Chief Technology Officer
- Jorge Villalobos — Full-Stack Developer
- Emiliano Santos — Full-Stack Developer
- Luis Correa) — Full-Stack Developer
- Oscar Fallad — Full-Stack Developer
- Efrén González — Back-End Developer
- Jorge Ramírez — Front-End Developer
- Carolina Delgadillo — Full-Stack Developer
- Manuel Longoria — Full-Stack Developer
The Polis cryptocurrency network is governed by the community. Everyone is allowed to vote and propose the necessary changes. The proposals could range from charity to marketing initiatives. 10% of the block rewards is used for community projects.
PolisPay on Social media
Bitcoin talk- https://bitcointalk.org/index.php?topic=2627897.0
Discord app- https://discord.gg/5CuBnZB
Polispay Services Provided
Polispay has a wallet which according to its official site is a great option for holding your digital assets. It is a unique wallet that is based on mnemonic phrases plus public and private keys. The wallet is impossible to hack.
Now, the worst part is getting a 404 error on the official Polispay site. We clicked the Card tab and 404 was there. Is there an explanation? Well, according to a Medium post by the Polis team, they had some misunderstanding with their card service provider and therefore they had to shop for a new one.
As part of implementing a debit card program, the Polispay team has started negotiations with Union Pay which is a card provider service. In fact, the negotiation process is over and not they are at the development and integration stage. So you can be assured of prepaid Union Pay cards making it to your Polispay app. Users will then be able to use debit cards to spend their crypto on different goods and services.
Fees and Pricing
There are new adjustments that were made by the Polis team.
Card- annual fee of $35 paid in Polis
Crypto to fiat conversion- 3% paid in Polis
ATM withdrawals- $4.50
POS payments -$1.50
Maximum Daily Load (0.15 BTC)
Maximum Monthly Load USD 50,000
Maximum loads per day 12
Maximum spend amount per day USD 2,500
Maximum card balance USD 50,000
Maximum ATM Withdrawal per Transaction USD 500
Maximum ATM Withdrawal per day USD 2,500
Polispay User Experience
The hiccup with the initial debit card provider really slowed things down but Polispay is not of the game. They are still asking for beta testers and the quicker you sign up because they only require 500 of them. It is only after beta testing that we will be able to have transparent user experience feedback. The beta process is a closed one.
Polispay still has a long way to go but the fact that they overcame a hurdle is a great sign. The process of obtaining the correct licensing from payment processors can be very complicated but Polispay seems to be really determined. They are working on an array of possibilities and are still pressing on with obtaining MasterCard licensing. Where there is a will, there is a way and Polispay will make it.
- Previously ran a card program
- Previously program was shut down
- Team only recently became public
- Card not currently available