GoCoin Digital Currency Payments Presentation
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May 2014 deck
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GoCoin Digital Currency Payments Presentation
- 1. Digital Currency Payments Platform: eCommerce, Gaming Gifts, Charity, & more Steve Beauregard steve@gocoin.com www.gocoin.com @GoCoin or @GoCoinCEO
- 2. 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 CARD NO LOVE ! ! !
- 3. • 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
- 4. Digital Currencies Payments are 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)
- 5. WHAT IS DRIVING ADOPTION? The CROWD is disrupting established incumbents peer-to-peer
- 6. 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
- 7. Steve Beauregard, Founder & CEO
- 8. 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
- 9. 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
- 10. HOW DO I GET BITCOINS? 1.Download Wallet 2. Buy Coins 3. Earn Coins
- 11. HOW DO I EARN? ACCEPTING PAYMENTS 1. Signup for a merchant account – www.gocoin.com/merchant_signup 2. Upload merchant KYC documents 3. Select currencies Bitcoin, Litecoin, Dogecoin 4. Enter bank routing or wire details 5. Determine Digital Currency / Fiat Splits 6. Add payment option(s) to website 7. Receive fiat deposits in bank
- 14. Steve Beauregard, Founder & CEO GOCOIN COIN TO CASH WORKFLOW
- 15. WHAT DRIVES ADOPTION? • Ease of obtaining coins • Smartphone penetration • Payment friction • Coin ATM machines • Merchant adoption • Digital currency only “deals” • Immediacy of deposits/payouts
- 16. Steve Beauregard, Founder & CEO BITCOIN: OPERATOR ON-RAMP QUESTIONS ?