• Short guides to forum navigation, searching, posting, translation, alerts and notifications viewable by clicking here.
  • Türk dostlarımıza hoş geldiniz Giriş burada.
  • Scammers are running ads on Facebook and Instagram claiming a giveaway. DO NOT OPEN THESE LINKS AND LOG IN. See this thread: here

Kinesis has launched the Metalback program

Kinesis has launched the Metalback program

Kinesis Metalback program provides users with the unique opportunity to earn up to 10% Metalback – paid in physical gold – on everyday purchases from over 6,000 leading retailers worldwide.

Through the Metalback hub on the Kinesis platform, users can explore thousands of exclusive savings from global brands such as Apple, Gucci, Lacoste, Ralph Lauren, Samsung, Sony, and many more. Metalback is accessible to users across the United States, United Kingdom, Asia, Europe, the Middle East, and Australia & Oceania.

Features & benefits of Metalback

- Get up to 10% Metalback every time you make online purchases.
- Earn gold deposited into your Kinesis account.
- No fees on your Metalback purchases.
- Pay with your regular card or select from a wide range of payment methods.
- Earn extra gold and silver with a Kinesis card through the Velocity Yield.
- Over 6,000 brands offering exclusive savings.
- Shop across 24 categories, from travel and luxury to entertainment and more.
- Free to join – sign up & verify your Kinesis account to access the Metalback hub.

Check out the full company news article here:

kinesis.money

Kinesis Launches Metalback | Kinesis

Offering up to 10% in gold on everyday purchases from over 6,000 retailers worldwide.
kinesis.money kinesis.money
 
Last edited by a moderator:
Click to expand...
Well this is also a very important point:

“For individuals purchasing at merchants’ online stores with Kinesis Pay, using their gold and silver currencies has no fee, making the spending of metals as easy as with any regular debit card.”

No fee for purchases.
 
Alexgeo said:
Well this is also a very important point:

“For individuals purchasing at merchants’ online stores with Kinesis Pay, using their gold and silver currencies has no fee, making the spending of metals as easy as with any regular debit card.”

No fee for purchases.
Click to expand...
Has this always been the plan with Kinesis Pay? I thought (incorrectly, it seems) Kinesis Pay contributed to the MFP.
 
nbsp said:
Has this always been the plan with Kinesis Pay? I thought (incorrectly, it seems) Kinesis Pay contributed to the MFP.
Click to expand...
Kinesis Pay does contribute to the fee pool.

Essentially, the purchaser makes a KAU/KAG transfer for the ticket price less 0.45%.
The 0.45% is then added in the normal way for a KAU/KAG transfer.
The purchaser therefore pays the full ticket price, but no more.

Uchiki said:
When it's scanned by someone using the mobile app, they are prompted to enter a value of the preferred currency that you selected during your merchant setup.
This will typically be the price of some goods or services that you provide.
This is then converted to KAU and KAG.
If they confirm the payment, they will be debited that amount and you will receive that amount less the 0.45% fee.
Click to expand...

Uchiki said:
What are the costs of using Kinesis Pay as a merchant?

As a merchant, you will want to know the costs of receiving payments via Kinesis Pay.
  • There is the 0.45% fee referred to above.
  • If you want to convert to fiat, the trading commission is 0.22%.
  • There may be movement in either direction in the KAU/KAG to fiat exchange value between the time that the calculation is done and any conversion to fiat.
Click to expand...

In effect, the merchant funds the 0.45% transfer fee as a discount, which is then technically paid by the purchaser.

It's a neat way of sticking to the technical "sender pays the fee" mechanism, while ensuring that the purchaser pays no more than the ticket price.
From the merchant's point of view, it should be competitive with card fees and they also get to accept real money for their goods/services.
 
Rhyno said:
Fee comparison using woocommerce which Kpay integrates with. This will be a massive incentive for merchants to adopt. The merchant pays fee; it’s an important psychological matter.

View attachment 7305
Click to expand...
Adoption of Kpay will be the issue in the West as we are all debit/ credit card and once you add in a fee for VDC (eg to cover provider) then is payment via Kinesis still competitive? Will depend on fees for the new card I guess.

Different in say china where everything is QR code vs card already
 
Uchiki said:
Kinesis Pay does contribute to the fee pool.

Essentially, the purchaser makes a KAU/KAG transfer for the ticket price less 0.45%.
The 0.45% is then added in the normal way for a KAU/KAG transfer.
The purchaser therefore pays the full ticket price, but no more.





In effect, the merchant funds the 0.45% transfer fee as a discount, which is then technically paid by the purchaser.

It's a neat way of sticking to the technical "sender pays the fee" mechanism, while ensuring that the purchaser pays no more than the ticket price.
From the merchant's point of view, it should be competitive with card fees and they also get to accept real money for their goods/services.
Click to expand...
Australia has proposed scrapping the ability to pass on merchant fees to the consumer, so this could be a massive point of difference.
 
Gary L said:
It’s been about a week of me using MetalBack and I will publish my personal activity in this post. My wife has accused me of becoming addicted to this, but I don’t agree with her. These are either gifts or things that I’ve wanted to purchase for some time:
Merchant Item Price (ex GST in USD) %MB $toMe $toMFP
  1. PetBarn Medical $121.14 4% $4.85 $4.85
  2. Strand Handbag $55.63 3.5% $1.95 $1.95
  3. Sennheiser Headphones $246.66 6.5% $16.03$16.03
  4. EBay Pruner $134.99 0.6% $0.81 $0.81
  5. Global SD Rotisserie $92.70 4.0% $3.71 $3.71
In a week I’ve spent $716.23 USD (inc GST), $651.12 has gone to the merchants, $26.64 to each myself and MFP. $53.28 of capital into the KMS in total.
I don’t intend to spend at this pace, however, I will be using this for travel and quite regularly in general.
Normal spending could easily see $500 to me and $500 to MFP per year.
If 10 Million people spent accordingly that would flow $5Billion USD into the MFP per year and $10B input capital into KMS.
For KVT holders, the MFP input alone equates to $333 per token per year. This is not counting VDC card spending, extra velocity creation of incoming capital, increased uptake of KMS after exposure etc etc etc.
I think I’m using quite conservative figures for 10 Million users, particularly when partners are highly incentivised to get the word out.
Click to expand...
I received my first MetalBack today:

Reward value (in USD):​
$1.89​
Reward payment amount:​
0.02166 KAU​
This was from Strand, which estimated $1.95. My wife really liked the handbag too.
 
It’s a pleasant surprise, for sure! I’ve been subsequently using MetalBack quite a lot with flights, hotels, hire car, clothing etc. It will be great to have a special MetalBack page in Kinesis, to keep track of transactions, pending and payments. This will only encourage more usage and I think it should be a high priority. The $55 USD handbag purchase contributed $3.78 USD to the KMS in total, which is equivalent to $1718.18 of KMS trading volume fee generation. Very easy money for the system.
 
Gary L said:
It’s a pleasant surprise, for sure! I’ve been subsequently using MetalBack quite a lot with flights, hotels, hire car, clothing etc. It will be great to have a special MetalBack page in Kinesis, to keep track of transactions, pending and payments. This will only encourage more usage and I think it should be a high priority. The $55 USD handbag purchase contributed $3.78 USD to the KMS in total, which is equivalent to $1718.18 of KMS trading volume. Very easy money for the system.
Click to expand...
I agree about a special MetalBack page to track everything, if it isn't too difficult to implement. It's another form of gamification, or stimulus, to spend via Kinesis. And yes, the MFP contribution is significant compared to 0.22% trades.
 
You must log in or register to reply here.

Translate

Back
Top