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:
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.
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).
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.