What is netCash?
netCash is a multi-currency digital payment utility that works as fully cleared cash. Each unit of netCash is backed 1:1 by real money held in a segregated client account, so there is no credit loop, no transaction fees and no waiting for settlement.
Account holders keep precise control of their money, moving exactly the amount they intend to pay or receive. Because every unit is allocated 1:1, each transaction is recorded and tracked in your account. Free for consumers and a fixed utility cost to merchants.
The platform is built for fast, instant digital cash payments and settlement, so your balance is available as soon as a payment is made.
How does it work?
netCash operates as a secure, database-driven clearing system that pairs directly with traditional banking architecture. To get started, you transfer funds into a segregated client account. The ledger records and credits these funds as 1:1 backed digital units within your account.
Payment options
- Account-to-account payments
- Send netCash to another netCash account and it settles instantly.
- Merchant payments
- Pay merchants who accept netCash, with the full amount arriving in their account.
Member-triggered redemptions
You stay in control of your money and can request a 1:1 redemption of digital units back to your designated bank account at any time. Because netCash settles instantly, payments avoid external credit infrastructure and intermediaries.
Where do I start?
- Onboarding
- Register for a netCash account as a consumer or a merchant. Your details are verified before your account is activated. Register now.
- Account funding
- Once your account is verified, open the deposit panel to see your dedicated deposit instructions. Transfers from your bank into the segregated client account will automatically populate your netCash balance on receipt.
- Pay & get paid
- Use your balance to pay other netCash accounts and merchants instantly, for the exact amount, with no bank delays.
Benefits & Costs
For consumers, there is no cost to register for netCash and no cost to use it. netCash is also a private digital currency, which matters at a time when privacy is a big worry in society.
For merchants, there is a single flat daily utility cost of £1 per day to receive unlimited multi-currency payments in netCash, online and offline, in store. Merchants can also generate their own web payment link, set up their own online shop, or use POS-enabled payments at in-store tills. All of these extra features are free: the flat daily fee is the only cost.
Simple costs, clear benefits
Free for consumers. One flat daily fee for merchants.
Consumers
Free to register, free to use
There is no cost to register for netCash and no cost to use it. No transaction fees, ever.
- Free to register
- Free to use
- No transaction fees
Privacy
A private digital currency
Privacy is a big worry in society today. netCash is a private digital currency, so you can pay and be paid with confidence.
- Private
- 1:1 backed
- You stay in control
Merchants
£1 per day, flat
A single daily utility cost of £1 lets a merchant receive unlimited multi-currency payments in netCash, online and offline, in store.
- £1 per day
- Unlimited payments
- Multi-currency
- Online & in store
Merchant extras
Everything else is free
Generate your own web payment link, set up your own online shop, or take POS-enabled payments at your in-store tills. These extra features cost nothing more. The flat daily fee is the only cost.
- Web payment link
- Online shop
- POS-enabled tills
- No extra cost
UK Electronic Money Institution authorisation is pending, and netCash is not yet offered to the public.
The netCash guide
A short illustrated guide to what netCash is, how it works and why people use it.
What is it?
netCash is a UK trademarked and globally filed product.
netCash is digital cash that works in today's world, now. It converts physical money into digital cash, and back again.
- Use netCash on any online platform or device: mobile phone, tablet or computer.
- Fund netCash by online banking or bank transfer.
- Every unit is backed 1:1 by real money held in a segregated client account.
it's your digital currency
Making transactions personal
How it works
netCash is easy to use, with built-in peace of mind, and is designed for all age groups. No computer skills are required. There are three simple steps.
Visit the website
Go to www.netcash-digital.com and register your account as a consumer or a merchant.
Add money
Fund your netCash by online banking or bank transfer and receive your netCash receipt.
You now have netCash
Spend and send your digital currency instantly, wherever you are.
Benefits
Consumer benefits
Total control over what you spend.
- Free to use.
- No bank account, credit card or debit card required.
- You decide exactly how much money you tender.
- No card details to steal, so less exposure to fraud and identity theft.
- Works in real time, instantly.
- Spend by computer, mobile phone, physical note, text message and other connected online devices.
Retail benefits
Simple, instant and global.
- No cash administration required.
- Automated banking helps reduce bank charges.
- Instant transactions keep customers moving in store.
- Supports micro-payments and opens new, global markets.
- Accept in store and online payments.
- Create your own online shop.
- Utility cost to receive payments.
- Eliminates transaction fees.
- POS enabled.
- Bespoke solutions available.
netCash compared with a credit card
| Feature | Credit card | netCash |
|---|---|---|
| No card details to steal | ||
| Available to all | ||
| Youth market | ||
| Facilitates micro-payments | ||
| Instant person-to-person payments | ||
| Instant payments via mobile telephones | ||
| Non card holders | ||
| No charge backs |
The evolution of netCash: a new era in global settlement
Prior art & regulatory foundations
netCash was invented as a 1:1 backed digital currency utility by UK entrepreneur Paul Tolley, built on prior art from 1999 to 2006 (UK, Europe, USA, Japan, India, Poland, WIPO) and classified under IPC G07F 19/00 (“Complete Banking Systems”) and CPC G06Q 20/00; 20/04 (“Payment circuits”). It achieved full reduction to practice under the then UK Financial Services Authority (FSA), with regulatory approvals spanning 2001 to 2011.
This proven framework has been updated and, on resecuring UK EMI approval, will be available to the public for modern retail payments, in-store and online. This version of netCash is exclusively for public use by consumers and merchants who require a fixed cost alternative to legacy card and payment vendors. For consumers, using netCash is free, while merchants can use the system to accept in-store, online and mobile payments instantly for a fixed daily utility fee as opposed to a transaction cost.
From cash to netCash: the payment race
Same goal, a different way to pay.
1800s – 1900s
Cash
The original payment method. Simple and trusted, but physical.
- Physical
- Simple
- Trusted
1950s onwards
Credit cards
Buy now, pay later. Flexibility and rewards, with borrowing attached.
- Flexible
- Rewards
- Borrowing
1980s – 1990s
Debit cards
Linked to your bank account, so there is no need to carry large amounts of cash.
- Convenient
- Bank-linked
- Local
2000s – 2010s
Online & mobile
Shopping goes digital, with contactless and mobile apps.
- Convenient
- Global
- Contactless
Today
1:1 backed digital cash. No transaction fees, and a fixed utility cost to merchants.
- Instant
- 1:1 backed
- Free for consumers
Illustrative timeline. UK Electronic Money Institution authorisation is pending, and netCash is not yet offered to the public.
Regulation
Netcash Global Digital Systems Limited has applied for a UK Electronic Money Institution (EMI) licence to operate netCash for public use.
A UK Electronic Money Institution licence is a regulatory authorisation granted by the Financial Conduct Authority (FCA) that allows a company to issue electronic money (e-money) and provide payment services. The original netCash system, which is updated here, was previously authorised by the then UK Financial Services Authority (FSA) from 2001 to 2011.
Buy netCash
To add money to your account, make a bank transfer into the segregated client account; the details are displayed in the system. Reference the transfer with your unique deposit code so it is reconciled automatically.
Once your funds are verified, the deposit is recorded and credited to your account as 1:1 backed digital units, down to the exact value, ready to spend or send.
Spend netCash
netCash is the digital version of the cash in your wallet: cash 2.0. It is your digital currency, and you can spend it with any merchant who chooses to accept netCash, online and offline.
Pay at the till, pay on the web, or send money to a friend. Person-to-person payments arrive instantly, just like handing over cash, and you can hold and spend pounds sterling, euro and US dollars.
Every unit is backed 1:1 by real money in a segregated client account, and netCash is a private digital currency, so you stay in control of what you spend.
Spend it anywhere it is accepted
In store, online and person to person. Flexible and secure.
Cash 2.0
The cash in your wallet, made digital
netCash works like the notes and coins you already carry, only it lives on your phone. It is your digital currency, ready whenever you are.
- Your digital currency
- Like cash
- Always with you
In store
Pay at the till
Spend at any merchant who has chosen to accept netCash. Pay at the counter, the market stall or the checkout, and be on your way.
- Any accepting merchant
- POS-enabled tills
- Quick and simple
Online
Pay on the web
Shop in online stores and pay through merchants' web payment links, in the same netCash you spend in person.
- Online shops
- Web payment links
- Same netCash
Person to person
Send to anyone, instantly
Split the bill, repay a friend or send money to family. A P2P payment arrives instantly, the way handing over cash does.
- P2P payments
- Instant
- No transaction fees
Flexible
Your money, your currency
Hold netCash in pounds sterling, euro and US dollars, and spend whichever suits the purchase.
- GBP
- EUR
- USD
- Multi-currency
Secure
Private, and backed 1:1
Every unit of netCash is backed 1:1 by real money in a segregated client account. It is a private digital currency, so you pay with confidence.
- 1:1 backed
- Private
- You stay in control
UK Electronic Money Institution authorisation is pending, and netCash is not yet offered to the public.
Redeem netCash
To redeem netCash, a member simply selects Settlement and chooses the amount they wish to redeem. Whatever netCash the member has opted to redeem is paid direct to their nominated bank account(s), the same day.
Members can hold netCash in pounds sterling (GBP), euro (EUR) and US dollars (USD), and can redeem each currency to a nominated bank account.
Because every unit of netCash is backed 1:1 by real money held in a segregated client account, redemption is at face value: the amount you redeem is the amount paid to your bank.
- GBP
- Pounds sterling
- EUR
- Euro
- USD
- US dollars
Contact us
Have a question about netCash, or about accepting it as a merchant? Send us a message and a member of the team will reply by email.
You can also telephone us on +44 203 137 5187.