• 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 Virtual Card program temporarily paused

The card program provider for the Kinesis Virtual Card, BAANX, is migrating to a new card issuer. During the migration, the Kinesis Virtual program will be temporarily paused and Kinesis users will be unable to use their cards - with immediate effect.

The new issuer has the capacity to expand the availability of the card globally, including new key target regions, and introduce a physical card option.

Unfortunately, Kinesis was not informed of the migration in advance, however, we are supporting BAANX in expediting the process in any way we possibly can. The migration is already underway, leveraging BAANX’s existing relationship with the new issuer to ensure a smooth transition.

The evolving risk policy of third-party suppliers is an inherent challenge in the industry. To combat this, Kinesis is working with multiple additional solutions for the card program to diversify our provision in the event of future disruptions. These programs involve Kinesis collaborating directly with issuers, providing enhanced control and significantly reducing third-party risk, ensuring uninterrupted provision of the Kinesis card program.

We are temporarily suspending new applications for the Kinesis Virtual Card. Current users are now unable to use their existing virtual cards.

As all funds are held in the Kinesis account, not on the Kinesis Virtual Card itself, there is no possibility of your funds becoming stuck. However, your personal account executive (AE) will be in touch to work through any support issues you may have.

We will update Kinesis users as soon as BAANX have provided a timeline for the completion of the migration.

We apologise for the inconvenience this may cause and appreciate your understanding and patience during this transition.

Thank you,

The Kinesis team
 
Click to expand...
Great! One reason to stay in Kinesis is enough, but with other countries, the VDC, Pro etc etc on the way, we understand, it'd seem a risk to withdraw if you don't need to.

My other underlying thought is always that Indonesia, for example, is just at the beginning of a 30 odd year change in financial structure.

KVT is the only token to benefit from that.
 
Yes, one aim of Kinesis might be to press for faster settlement times, once traction increases and Kinesis gets more clout.

Easier as a negotiable than the less comfortable conversation about squeezing margins and it'd benefit all companies signed up to the partnership manager, whichever company that may be.
 
Loyalty programs used to run on the management of pieces of physical paper, such as vouchers or tokens, with similar speeds, but no need to wait now.
 
AlM said:
Yes, one aim of Kinesis might be to press for faster settlement times, once traction increases and Kinesis gets more clout.

Easier as a negotiable than the less comfortable conversation about squeezing margins and it'd benefit all companies signed up to the partnership manager, whichever company that may be.
Click to expand...
Pretty sure they have zero input into this. It will be between the cashback program provider and retailer only
 
Yvanoff said:
I saw that message and tried it with TEMU.ES
Didn't get a dime on my account.
Using the link from within the Kinesis application.
Click to expand...

Uchiki said:
The current process is that an email will be sent after Kinesis receives confirmation that your purchase is tracking with the merchant. This confirmation is not an instant process and the time will vary between merchants.
You can see some examples of the email that others have posted further up this thread.

If you don't receive this email within a week, I would follow up with Support.
Include a full screenshot of your purchase showing all the details including any order references and the total amount paid.
Click to expand...

You can see here some comments from @NoJoKin about a purchase from TEMU.ES, from outside of Spain.
NoJoKin said:
Temu is listed only as Temu ES, ie, in Spain, a supported country. I live in Portugal which is not listed as a "supported country," so I didn't know how that would work w/the company's statement (quoted above).
Click to expand...

NoJoKin said:
PS ... I went ahead w/ a trial purchase and just received confirmation (19 Sep) that "Your purchase of $28.29 at Temu ES was successful and pending approval for Metalback. Your Metalback should be paid into your Kinesis account within 14-150 days." -- the MetalBack is 6% of purchase price, exactly as promised by Temu for a returning customer (20% for new). Very cool indeed.
Click to expand...

Be aware that Temu's conditions include:
*** Rewards are not calculated on shipping, handling, delivery or national purchase taxes (this may include but is not limited to VAT, GST, etc.).

Even though shipping is not itemised in Temu's purchase prices, I would not be surprised if the actual shipping/handling cost as well as the VAT amount is subtracted from the purchase amount before calculating the amount they will pay and therefore what Kinesis will give you in Metalback.
 
Yes @Dante Roman - until Kinesis gains traction and scale.

Possibly unlike other companies on the customer supply side of the equation, Kinesis has a native, sound money, set of currencies that it can use directly with retailers, although it'd be good to retain both options, as use of existing cards reduces initial friction.

In time though...
 
Uchiki said:
You can see here some comments from @NoJoKin about a purchase from TEMU.ES, from outside of Spain.




Be aware that Temu's conditions include:
*** Rewards are not calculated on shipping, handling, delivery or national purchase taxes (this may include but is not limited to VAT, GST, etc.).

Even though shipping is not itemised in Temu's purchase prices, I would not be surprised if the actual shipping/handling cost as well as the VAT amount is subtracted from the purchase amount before calculating the amount they will pay and therefore what Kinesis will give you in Metalback.
Click to expand...
Hasn't been working for me 😞
 
There is a VDC button in the app now.

Use VDC to shop online.
Alas the VDC isn't reactivated yet, but I hope it's soon.

The button might have been there before.
I haven't logged into the app in a while.
 
Yvanoff said:
Temu order: PO-020-12906064399993344

on Sunday Sept.15th 2:04PM ET.
That's 14:04 CET
Click to expand...
Out of curiously was this on a phone? Mine sometimes wants to take me to the app from web version to shop/ complete purchase as I have it installed. That might disqualify you from the metalback
 
Uchiki said:
OK, that's over a week.
Send the full details including amount of purchase to support@kinesis.money.
They'll need full screenshots of order confirmation from Temu.
Click to expand...
'Dear XXXX XXXXXXXXXX,

Thank you so much for reaching out to the Kinesis Support Team and we hope you're doing well.

Kindly be informed that once you complete your purchase, expect your Metalback to arrive within 14 to 150 days from the transaction verification date, depending on varying stores’ processing times and individual policies. We’ll send you a confirmation email once your transaction is completed.

Your physical gold (KAU) will be credited directly to your Kinesis account.
You may refer to the link attached below for more information.'


I hope that it's not 150 days lol 🙂
 
You must log in or register to reply here.

Translate

Back
Top