Romit Payments Launched

We are proud to announce Romit Payments – the world’s first globally distributed payment network for underbanked industries.

payments

Using an embedded button that can be quickly dropped in to any online checkout process, verified businesses can finally process payments from customer credit and debit cards where they may not have otherwise been able to do so in the past.  Our globally distributed network of licensed money handlers ensures high availability when securely processing payments.

Blockchain technology powers our unique form of settlement allowing our service to accept any payment method and instantly transmit any currency to any other currency at a global scale.

Checkout our example payment button  on the website today to experience how easy it is to use.  http://romit.io

Location Roundup #1

We feature remittance locations that are brought online.  To see the complete and up-to-date list, log-in to https://wallet.romit.io and click “Send Money”.

  • USA, Oregon, Portland – 700 SW 5th Ave. 
  • Australia, Sydney – 45 Southwaite Crescent, GLENWOOD NSW 2768
  • Philippines – M. Lhuilier Locations
  • Philippines – Palawan Expresss Locations
  • Philippines – Cebuana Lhuilier Locations
  • Spain, Madrid – Calle Salustiano Olozaga, 4, 28001
  • Italy, Florence – Borgo degli Albizi 72r
  • Italy, Rome – Via del Castro Laurenziano 9
  • Italy, Milan – Via Pisacane 36
  • Nigeria, Lagos – B5 road 2 Ikota shopping complex vgc lekki
  • Romania, Bucharest – Strada Patriei nr. 2, sector 3
  • Romania, Bucharest – Titulescu nr 16
  • China, Hong Kong – CashSense 357, 3rd Floor  Worldwide House 19 Des Voeux Road

If you would like to learn how you can offer money services to the people in your area, learn more at http://romit.io/cashier

Instantly send government money to any phone number in the world for 2%

Verified users who already have bitcoin are now able to instantly send government money to any phone number and have it available for pickup at any one of our thousands of participating send money locations around the world. Users can also send the money to themselves, giving them the ability to sell bitcoin online and have it available at the given location for cash instantly at 2% fees.

This is how it works:

Step 1 – Choose the cash pickup location

The user selects the pickup location where the government currency will be available for pickup at. These locations may be kiosks, tablets, or third party locations like pawn shops.

Step 2 – Recipient information

Next, the user enters the destination user’s cell phone number. When the transaction goes through, they will receive a text message that the money is available for pickup. They do not need to be a Romit user for this to work.

Step 3 – Send amount

The user enters how much money they would like to send to the phone number and have available for pickup. The currency type will be set by the destination location.

Step 4 – Confirmation

Before executing the transaction, the user verifies the information of the remittance before executing it. All funds are drawn from the primary wallet account.

Step 5 – Pickup at the location

Pickup at the location

The destination user, after receiving a text messages with directions to the pickup location, can press “Receive Money” and cash out.

That’s it.  Get started today at https://wallet.romit.io

Users who never wish to be exposed to bitcoin, or would otherwise never even want to know bitcoin is being used behind the scenes, can do the existing cash to cash transactions at any one of the locations in person.  These transactions maintain our flat 4% fee, but if the user is able to acquire bitcoin beforehand, Romit will process it for only 2% of the total sending volume.  Think of it like bringing your own wine to the restaurant.

We are excited to bring this exciting feature to the bitcoin community as we continue to expand into traditional payment channels.

Would you like to give people the ability to send and receive money or offer bitcoin services at your location by just installing a tablet application? Do you already have an existing system in place and want to drive new remittance traffic by simply getting emails? Learn more at: http://romit.io/cashier

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.

Pikcup Location

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.

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.