Robocoin’s "Romit" Software Tackles Remittance Market
Robocoin, an early bitcoin ATM manufacturer, is rebranding itself as Romit and debuting new software aimed at the international remittance market. The features will go live at existing Robocoin ATMs around the world, as well as internet-enabled cashiers who install the Romit application. The technology leverages the bitcoin blockchain in order to provide cheap money transfers at rates competitive with Western Union and MoneyGram. Robocoin was one of the earliest entrants in the bitcoin ATM space, releasing its first machine in October 2013. It was the first time customers could visit a....
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On the 21st of April, Robocoin released its Romit remittance software. Romit is a new global remittance platform that leverages blockchain technology, but it removes Bitcoin from the user experience. Romit’s fully automated remittance platform makes running a money transfer business easy, with low and transparent fees. The app provides low-cost wealth storage and money sending opportunities using only a web-enabled tablet or computer. The Romit Cashier App allows anyone to become a Bitcoin ATM and Money Transfer service. The Cashier App makes it easy to run a fully automated, customer....
Robocoin, a pioneer in bitcoin ATMs, has announced the rollout of Romit, which it bills as the cheapest and fastest money-transfer service in the world. The new cash remittance application leverages the bitcoin block chain. Any web-enabled kiosk, ATM or cashier can offer Romit KYC (know your customer)-compliant money transfer services. The service can send money to a smartphone, tablet or PC. By using the bitcoin block chain, the Romit remittance solution circumvents Forex foreign exchange fees, wire transfer fees, and banking requirements. The service could extend Robocoin's role in the....
Romit, the remittance service that began as bitcoin ATM developer Robocoin, has said that it is shutting down its bitcoin services. The company told customers today that it was suspending its bitcoin-related services and encouraged customers to begin withdrawing their funds. Romit, which offers a wallet service aimed at global remittance payments, plans to formally end its bitcoin services on 15th February, according to text messages sent to users. When reached for comment, Romit provided CoinDesk with an email announcing the move, stating: “We are discontinuing bitcoin services from our....
Robocoin has developed a new ATM system that enables cash to be sent to another account or ATM without the high-cost that remittances usually carry. Bitcoin is up until now the best way to avoid the high cost of remittances and now Robocoin streamlined this process even further. Romit is Robocoin's new product and the developers have enabled a way to send cash through a Robocoin ATM to another ATM or merchant account at fees far lower than other remittance providers. Robocoin CEO Jordan Kelley, says: "Romit enables unprecedented low-cost global money transfers by leveraging Bitcoin's....
FastCompany’s report revealed that overseas remittance totaled $429 billion in 2016. Some of the largest Remittance markets include China and the Philippines. Already, bitcoin startups have begun to dominate the remittance markets in the two countries, with the Philippines leading bitcoin remittance innovation. Both domestic and international remittance is a massive market within the Philippines. Companies such as Lhuillier and Palawan operate thousands of branches throughout the country, with deeper market penetration in comparison to international remittance companies such as Western....