Category Archives: Press Release

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 has Arrived

RoboCoinKiosk.com

Bitcoin’s First Real ATM is here and accepting pre-orders. RoboCoin allows buying and selling Bitcoins from a freestanding kiosk that integrates beautiful software, bank grade hardware and security, and 100% Federal compliance capabilities.

RoboCoin’s technology makes it a legitimate contender in the emerging market for Bitcoin machines. “Seriously, how Bush League is an ‘ATM’ if it can’t do the equivalent of deposits and withdrawals or be left unattended?” RoboCoin CEO Jordan Kelley quipped, taking a jab at competing buy-only tabletop machines.

At $20,000 per unit (there’s an $18,500 pre-order promotion through September) each RoboCoin represents a compelling investment for business owners. They’ll earn a percentage of transactions and attract Bitcoin’s loyal user-base, while also offering unprecedented access and ease-of-adoption to Bitcoin newcomers. Furthermore every Robocoin on the market increases Bitcoin liquidity and usage, putting upward pressure on the digital currency’s valuation, awareness, and legitimacy.

RoboCoin to date has received inquiries from over 20 regions including: Canada, Australia, Prague, Kenya, Ireland, the Philippines and Thailand.

RoboCoin Quick Facts:

RoboCoin was on display at the Bitcoin 2013 Conference in San Jose and was featured in Wired.

•Exchange Integration with Mt. Gox or Bitstamp delivers dynamic Bitcoin inventory: trades are placed in real time.

•Dashboard allows owners easy machine administration, accounting, and email/text alert-configuration.

•Compliance Tools: industry-leading security features a palm vein scanner that can isolate individual transactors for AML while the webcam can be used to collect identification and even proof of residency for KYC requirements.

•RoboCoin Kiosks can be purchased with Bitcoins or USD.