The cashier app is live

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Today, we open up the Romit Cashier App to the world. Romit makes remittances cheaper, faster, and more transparent (see cost comparisons) and the Cashier App makes it easy to run a fully automated, customer friendly remittance service.

Romit is now available in 10 major remittance corridors: U.S. (NYC and Portland), Nigeria, U.K., Hong Kong, Philippines, Florence, Milan, Jamaica, Rome, Bucharest, Ecuador, Mexico City. Businesses and individuals can now sign up at Romit.io.

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How to Become a Cashier

The Romit Cashier App can be run on any smartphone, tablet or PC via the browser meaning that anyone, anywhere in the world can begin sending and receiving money. It’s powered by the Romit Wallet engine, which makes it easy to set up an account and get started in less than an hour.

  1. Open a wallet.romit.io account and create an Operator Wallet.
  2. Add as many locations as you’d like.
  3. Add bitcoin to your account.
  4. Go to app.romit.io and enter in your secret API keys and start sending and receiving money!

If you are interested in speaking to a Romit specialist to help guide you along this process, please click here.

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Beautiful Business

Remittances are the life blood to developing countries around the world and migrants are paying over $32 billion in fees annually. Romit can improve the remittance experience and ensure that more money gets delivered to the home country.

  • Simple, fair and transparent pricing will unlock micro-remittances (sending less than $200). Allowing customers to send $20 for $0.80 instead of $5 or $9.99 is expected to increase customer retention and overall volume.
  • A wonderful customer experience isn’t just cheaper and faster. Romit removes the paperwork and remembers each customer after they enroll for the first time. Customers can then log in with a phone # and pin at any Romit location around the world.
    Interested in speaking to a Romit specialist? Please click here.

A deeper look at Romit

For Immediate Release May 6, 2015

A deeper look at Romit

On Apr. 21, Robocoin released it’s Romit remittance software. Today, it’s showing Romit in action with this video demo of the Romit Cashier App:

Update:
Romit is now available in 10 major remittance corridors: U.S. (NYC and Portland), Nigeria, U.K., Hong Kong, Philippines, Florence, Milan, Jamaica, Rome, Bucharest, Ecuador, Mexico City. Businesses and individuals can now sign up at Romit.io.

Summary:
Romit, the global remittance platform from Robocoin, leverages blockchain technology, but removes Bitcoin from the user experience. Romit makes remittances cheaper, faster, and more transparent (see cost comparisons).

Demo Video:
See the linked video, which shows the process for sending and receiving physical currency (cash) from San Francisco, to Hong Kong, Phillippines, Florence Italy, to Nigeria, New York City and more! In this video, a customer uses the Romit Cashier App (being run on a tablet) to send cash to another Romit Cashier in Nigeria. Romit’s fully automated remittance platform makes running a money transfer business easy, with low, transparent fees.

Here’s why it’s awesome:

  • Anyone can get in the game! The Romit Cashier App allows anyone to become a Bitcoin ATM and Money Transfer service – provide low-cost wealth storage and money sending opportunities using only a web-enabled tablet or computer.
  • Micro remittances (under $200) are now viable. A $200 remittance costs on average 7.9%. Romit has introduced a new, transparent pricing model that removes the financial barrier to micro-remittances, even money transfers between $20 to $50. Customers can send micro-remittances. 4% flat vs. Base fee + hidden forex costs (see cost comparisons).
  • A better customer experience: cheaper, faster, no paperwork; customers enroll one time and log in with a phone # and pin. Customers send money to phone numbers and recipients receive SMS notification and directions.
  • Transparent fees (always 4%) and fee share: Romit pays 40% to sending operator and 40% to receiving operator – compared to 10%-20% payouts from leading Money Transfer companies.

Robocoin Debuts Romit Remittance Software

Introducing Romit
When Robocoin invented the world’s first Bitcoin ATM In October 2013, the company believed that blockchain technology would transform the remittance market. To that end, today the company is introducing Romit: the cheapest and fastest money-transfer in the world. The new application can run on a smartphone, tablet, or PC, so that any web-enabled kiosk, ATM or cashier can offer KYC-compliant money transfer services.

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How Romit Works for Customers
Romit enables unprecedented low-cost global money transfers by leveraging Bitcoin’s underlying blockchain technology, while also removing bitcoin from the customer experience. Here’s how a customer interacts with Romit-enabled devices: Step 1: enter recipient’s phone number. Step 2: select destination country. Step 3: insert cash into kiosk/ATM, or hand cash to cashier. Done. Romit sends a confirmation text to the recipient with the amount sent and nearest pickup location. Cash-to-bitcoin-to-cash settlement happens instantly, in the background – customers don’t create bitcoin wallets or speculate on Bitcoin prices.

Why Romit is Awesome
Romit’s fully automated cash-to-cash remittance solution circumvents Forex fees, wire transfer fees, and banking requirements by utilizing blockchain technology, thereby allowing money transfers far cheaper than incumbents Western Union and Moneygram. The most dramatic cost savings occur with micro-remittances under $200 dollars.  At $20, for example, Romit charges $0.80 (4%) vs. Western Union $5.62 (28.10%) and MoneyGram $10.92 (54.59%)). Reducing money transfer costs lower the barriers to sending a micro-remittance and has the potential to increase the overall remittance market.

Exhibit A. Romit vs. Western Union and Moneygram

Romit for Businesses
Any business with web-enabled kiosks or cashiers can now offer their customers the best experience in remittance simply by creating a Romit Cashier Account. Romit also offers a full backend for Cashier’s to view transactions, users and reports, as well as hosted KYC. Romit goes live on Wednesday Apr. 22nd at kiosks in the U.S., Hong Kong, Romania, and Italy – 20 locations in all, in four countries that each represent well over $1B remittance markets. Romit is also engaging major convenience store networks, pawnshops, and even a state-owned bank, while targeting the Philippines, India, Mexico, and other remittance-heavy markets.

Business owners can learn more and sign up at http://romit.io/cashier .

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Send Bitcoin Through SMS

Today, we announce that customers can send bitcoin to any mobile phone number. Previously, customers could only send bitcoin to addresses or existing Robocoin users. We believe this is a necessary step in the right direction of introducing bitcoin payments to others.

Send money to any SMS enabled phone number

Send money to any SMS enabled phone number

After making the transaction, the recipient is sent a text message where it can be claimed by registering either online or at a Robocoin enabled location.

SDK Automatically Adaptable on Any Hardware

Robocoin’s SDK brings bitcoin and soon remittance capabilities to any kiosk or ATM regardless of what kind of hardware it may have. Kiosks are created and specified from online operator accounts from the Robocoin wallet.  The user interface automatically adapts to the hardware capabilities of the machine sparing the integrator from having to build anything.

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The home screen of the Robocoin SDK’s embedded UI

No bill dispenser?  No problem – it will automatically adapt by removing the ability to sell bitcoin from the user.  No webcam?  No problem – users may enroll directly from online by simply linking their social profile. If a webcam is present, the SDK will automatically access it without any driver configuration and will add the ability to withdraw bitcoin (by scanning a QR code) and become identified (scanning their ID) right from the machine.

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A kiosk configuration panel within an operator account at https://wallet.robocoin.com

Robocoin is the only platform which integrates our online wallet to bring the easiest and most consistent bitcoin and remittance experience to global customers.

Learn more at http://partners.robocoin.com.

Developer API and SDK Released

We are happy to release our developer documentation and our new software development kit: http://docs.robocoin.com/. Any ATM or kiosk now have the tools necessary to easily add bitcoin services to their current product offering.

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For now, the SDK is a .NET UI widget that can be dragged in from the Visual Studio toolbox. It is an embedded web browser with extended functionality to broker hardware events and user input events to and from the parent application. This lets integrations focus only on wiring up hardware drivers while leaving the management of bitcoin and compliant users to the Robocoin Wallet platform.

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Further details will be forthcoming. If you are interested in testing out the SDK, contact partners@robocoin.com and we will upgrade your operator wallet to work with the SDK. Additionally, check out the sample application consuming the SDK here -> https://github.com/RoboCoin/robocoin-sdk-net-sample

Bug Bounty Program Launched

We have publicly launched our bug bounty program with HackerOne – a platform that enables companies to pay out bounties for vulnerability disclosures found by independent security researchers.    You can find our page here -> https://hackerone.com/robocoin

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The importance of security in bitcoin goes without saying, and we are happy to add this platform of responsible disclosures to our arsenal of steps taken to keep customers safe.