BitGold Business Accounts provides access to
suite of global payment solutions using gold-based
settlement
GoldMoney Inc. (TSX-V:XAU) today announced the launch of BitGold
Business Accounts and merchant processing at Money 20/20 Europe,
the world's largest FinTech event. BitGold, the only gold-based
payments and savings platform, is transforming the global
cross-border payment experience by enabling business owners,
freelancers, and sole proprietors to request and accept business
and consumer payments in vaulted-gold bullion, enabling instant
cross-border value settlement and reducing risks and delays in
global commerce.
Traditional payment systems and regional currencies are laden
with friction, delays, and high cross-border processing fees when
exchanging value in an increasingly connected and global
marketplace. With BitGold Business Accounts, BitGold has optimized
global commerce by reducing friction of value exchange in
cross-border payments and enabling merchants to seamlessly use
vaulted-gold bullion as a universal and efficient payment rail.
The new technology includes a suite of payment applications that
will include invoicing, payroll, e-commerce and checkout solutions.
BitGold Business Accounts makes global business and consumer
payments using gold simple and cost-effective. Built on a highly
scalable infrastructure, the Canadian-born platform now allows
merchants to transact to and from more than 150 countries and 100
currencies globally in gold for one low cost debit-processing
fee.
“We want to accelerate business growth by making it easy to
request and accept payments, including micropayments, around the
world instantly using a secure, closed-loop network,” said BitGold
Co-Founder Josh Crumb. “In our view, every business should only
have to consider two forms of money when accepting payment for a
transaction – a local currency integrated with their local banking
system, and gold, the world’s most recognized, stable and best
performing international money. BitGold’s global debit network is
empowering merchants who might otherwise be limited by their
location. This advance reduces the fees and hassle part of
‘foreign’ in foreign exchange.”
BitGold’s digital ledger technology utilizes a ‘hub and spoke’
model for cross-border payment flows, with vaulted-gold enabling
low-risk and low-volatility settlement options for all
transactions. BitGold’s closed-loop debit network enables instant
value-settlement of any transaction into vaulted gold. Businesses
can easily settle back to a local currency or bank account, or push
supplier payments and payroll out anywhere in the world.
“We’ve upgraded the underlying infrastructure and transformed
the process-flow to a new gold standard that optimizes cross-border
payments,” said Darrell MacMullin, CEO of BitGold. “We’re obsessed
with injecting efficiencies into global commerce, so we created a
better way for people and now businesses to take advantage of the
benefits of using gold safely and securely using our network.”
The BitGold platform decreases volatility and enables payments
in gold, the world’s best performing currency, which won’t be
impacted by exchange rates, fees or inflation.
Suite of Payment Solutions – Earn. In Gold.
BitGold Business Accounts: Provides merchants with access
to a suite of tools that make global payments easy and efficient,
using gold. Customers can pay securely via credit card, debit card,
or bank transfer from any currency, and send gold as payment.
Merchants can retain the gold to store earnings securely, transfer
to pay suppliers, instantly settle to a verified bank account, or
spend with the GoldMoney PrePaid MasterCard.
- BitGold Invoices: Invoice
international customers with a completely customizable template in
the currency of choice. Manage inventory items and customer lists,
and use global tax and shipping calculators. Approved customers
purchase Gold securely via credit card, debit card, or bank
transfer from any currency for a simple one per cent transaction
fee, and send the gold value as payment, never sharing their
financial information.
- BitGold Pay: Embedded checkout
payment flow optimizes international ecommerce by making it simple
and safe for customers to transact with merchants using the
currency of their choice. Simple global pricing, no matter where
your approved customers live for a simple one per cent transaction
fee. No cross border fees or foreign exchange fees for
payment.
- Developer API: BitGold will be
releasing a developer API stack that enables deep integration with
BitGold’s payments infrastructure. Using the new API integration,
developers can add a gold payments option to third-party invoicing
solutions, ecommerce platforms and payment gateways.
About BitGoldBitGold uses proprietary technology in a
symbiosis of gold-vault service and payment processing
infrastructure in an “online banking” environment, providing
innovative solutions to the challenge of transacting with fully
allocated and securely vaulted gold. Founded in May 2015, BitGold
has raised more than $70M in financing, and is one of the world’s
fastest growing FinTech companies. BitGold already has more than
800K users located in more than 150 countries, and more than 889K
grams ($45.8M CAD) of customer gold under safekeeping. Total
transactions on the BitGold platform surpassed $77.1M CAD as of
April 1, 2016. BitGold is a subsidiary of publically traded
GoldMoney Inc. (TSX-V: XAU). For more information about BitGold,
visit www.bitgold.com.
About GoldMoneyGoldMoney Inc. (TSX-V: XAU), is a
full-reserve and gold-based financial service and technology group.
BitGold enables an industry-leading pay-in, pay-out capability for
gold that leverages technology, foreign exchange conversion, data
management, as well as regulatory, compliance and anti-money
laundering (AML) infrastructure, to expedite efficient and timely
payments almost anywhere in the world, using gold. GoldMoney is
regulated by the Jersey Financial Services Commission (JFSC) as a
Money Services Business. The JFSC is the main supervisory body that
oversees and regulates Jersey's large financial services industry.
For more information on GoldMoney, visit ir.goldmoney.com.
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein. Neither the TSX-V nor its Regulation Services Provider (as
that term is defined in the policies of the TSX-V) accepts
responsibility for the adequacy of this release.
Forward-Looking StatementsThis news release contains
certain “forward-looking information” within the meaning of
applicable Canadian securities laws that are based on expectations,
estimates and projections as at the date of this news release. Any
statements that involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions,
future events or performance (often but not always using phrases
such as “expects”, or “does not expect”, “is expected”,
“anticipates” or “does not anticipate”, “plans”, “budget”,
“scheduled”, “forecasts”, “estimates”, “believes” or “intends” or
variations of such words and phrases or stating that certain
actions, events or results “may” or “could”, “would”, “might” or
“will” be taken to occur or be achieved) are not statements of
historical fact and may be forward-looking information and are
intended to identify forward-looking information. This
forward-looking information is based on reasonable assumptions and
estimates of management of the Company at the time it was made, and
involves known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking information. Such factors include, among others:
the Company’s limited operating history; future capital needs and
uncertainty of additional financing; the competitive nature of the
industry; unproven markets for the Company’s product offering;
volatility of gold prices & public interest in gold investment;
lack of regulation and customer protection; the need for the
Company to manage its planned growth and expansion; the effects of
product development and need for continued technology change;
protection of proprietary rights; the effect of government
regulation and compliance on the Company and the industry; network
security risks; the ability of the Company to maintain properly
working systems; foreign currency and gold trading risks; use and
storage of personal information and compliance with privacy laws;
use of the Company’s services for improper or illegal purposes;
global economic and financial market conditions; uninsurable risks;
and those risks set out in the Company’s public documents filed on
www.sedar.com. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company undertakes no
obligation to revise or update any forward-looking information
other than as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20160406005523/en/
MEDIAEdelmanJacquelyn
Humphrey, +1
416-997-5985jacquelyn.humphrey@edelman.comorBitGoldJosh
Crumb, +1 647-499-6748josh@bitgold.com