gocoin digital currency payments presentation
DESCRIPTION
May 2014 deckTRANSCRIPT
Digital Currency Payments Platform:
eCommerce, Gaming Gifts, Charity, & more
Steve Beauregard [email protected] www.gocoin.com@GoCoin or @GoCoinCEO
CREDIT CARDS ARE TARGETS FOR FRAUD
The major card networks are
pushing payment companies to upgrade to
EMV or
“chip card” compatible points of
sale by 2015.
NO CREDIT CARDNO LOVE ! ! !
• 3-4% credit card transaction fees + $.30• Prepaid cards up to 20% fees• Credit card chargebacks• Too many intermediaries in transaction$$• Merchant Category Code Friction
Current Operator Pains transaction fees too high
Pain + Friction = Opportunity
Digital Currencies Paymentsare superior & here to stay
• Bitcoin – Most circulated ~$10B• Peer-to-peer secure, instant payments• Military-grade encryption • Less than 1% transaction fees • Transparent, verified, frictionless• Irreversible Payments…No CHARGEBACKS• Growing trust economy (AirBnb, Uber, etc)
WHAT IS DRIVING ADOPTION?
The CROWD is disrupting established incumbents
peer-to-peer
Steve Beauregard, Founder & CEO
HYPE GOOD & BAD MAKES HEADLINES
CRYPTO CURRENCIES
BITCOIN HAS EVOLVED BEYOND ILLICIT USES SUCH AS “SILK ROAD” AND EARLY
FAILURES LIKE “MT. GOX, BIPS, AND OTHERS” THAT WERE
ROBBED OR MISMANAGED
Steve Beauregard, Founder & CEO
MERCHANT CASE STUDIES
800 orders in 24 hours
$130K net new customers
$500,000 orders in 1st week
83,683 daily transactions (Nov. 2013)
5% of all orders are with Bitcoin better for
Bitcoin Credit Card PayPal
0% 2.7% 2.7% FRAUD
DISRUPTIVE TECHNOLOGY: BITCOIN
• Bitcoin the invention vs. Bitcoin the currency• The competitive drive for traffic and profits!• Reach global markets with instant irreversible
payments & no interchange/forex fees• Payment processing and game engines with in-
game commerce, tipping and gifting• Cost savings in chargeback management, wire fees,
& fraud prevention• Will make digital currencies the preferred payment
method of web transactions
HOW DO I GET BITCOINS?
1.Download Wallet2. Buy Coins
3. Earn Coins
HOW DO I EARN? ACCEPTING PAYMENTS
1. Signup for a merchant account– www.gocoin.com/merchant_signup
2. Upload merchant KYC documents3. Select currencies Bitcoin, Litecoin, Dogecoin4. Enter bank routing or wire details5. Determine Digital Currency / Fiat Splits6. Add payment option(s) to website7. Receive fiat deposits in bank
HOSTED INVOICE EXAMPLE
Steve Beauregard, Founder & CEO
GOCOIN COIN TO CASH WORKFLOW
WHAT DRIVES ADOPTION?
• Ease of obtaining coins• Smartphone penetration• Payment friction• Coin ATM machines• Merchant adoption• Digital currency only “deals”• Immediacy of deposits/payouts
Steve Beauregard, Founder & CEO
BITCOIN: OPERATOR ON-RAMP
QUESTIONS
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