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.

Romit

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.

home-boxes

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.

hardware

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.

docs

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.

54e5512c8fb8905c20c58efb_home-screen

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

bugbounty

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.

Public Enrollment Now Available

We are happy to announce that users who wish to use Robocoin may now create an account directly from the website without first having to visit a machine or branch location.  By providing an email, phone, and your legal name, users may now gain access to Robocoin’s global cash network and become verified prior to trading at a branch location.  This lets you load bitcoin into your trading account before visiting a machine – instantly giving you the ability to withdraw cash.

signup

Register Here -> https://wallet.robocoin.com/signup

Key Features:

  • Multiple Wallets – Users can create several wallets to keep funds separate and organized.
  • Shared Wallets – Share wallets with other users and assign different permissions to them.
  • Operator Wallets – Becoming an operator is as simple as creating a wallet and generating keys.  You can share these wallets with your business partners as well.
  • Transfer – Instantly transfer bitcoin between your wallets and others.  Send and receive bitcoin to and from the blockchain easily.
  • Secure – In addition to contracting private pen testers, we also have a formalized public bug bounty program we have been piloting that gives testers the ability to submit bugs -> https://hackerone.com/robocoin
  • Reserve – Most of the bitcoin in the wallet are stored offline in a multiple signature model to ensure maximum security of coins in the network.

The Robocoin team is delighted to bring our cash platform to a greater audience online.  There are many more exciting announcements to come following this, so stay tuned!  If you have an questions or comments, feel free to contact us at info@robocoin.com

Thanks!

Instant enrollments through Quick Enroll

Quick enroll gives operators the ability to decide if they would like to place newly registered users into a provisionally approved state which allows them to transact immediately after enrollment.  If it is enabled, the user is able to instantly log-in to their account.  Robocoin Compliance reviews the application at a later time and determines if the user can continue transacting or be placed into a denied state.  If it is disabled, it will prevent the user from transacting until they have been cleared by the compliance team. quickenroll