Allows merchants to pay their customers in crypto, bank transfer and other payment methods
San Francisco, CA, March 31, 2023 (GLOBE NEWSWIRE) — RocketFuel, Inc. (OTCQB: RKFL) (“RocketFuel” or the “Company”), a global provider of payment solutions via ACH wire transfers, Bitcoin and other cryptocurrencies, announced the official launch of its Payouts product.
RocketFuel’s new product helps businesses make payments in crypto or FIAT currencies to freelancers, vendors, creators and employees. RocketFuel Payout is a natural extension to Rocketfuel E-commerce, allowing sellers to receive payments in crypto and bank transfer. Merchants can now offer both deposit and withdrawal services in digital as well as FIAT currencies from one, simple, integrated solution.
Existing payment channels (e.g. bank transfers) are slow, unreliable and expensive, especially across borders. Problems with bank transfers cause increased support costs and unhappy customers for sellers.
These are a few reasons why more and more recipients prefer to receive their payments in crypto directly to their phone or computer. It is instant, cheap and reliable. In fact, according to a study released by financial company SoFi last year, 36% of 1,600 HR managers and employees surveyed wanted to receive part or all of their paycheck in cryptocurrency.
“Rocketfuel Payouts is our third source of revenue after e-commerce and B2B cross-border payments,” said Peter Jensen, Rocketfuel CEO. “We have already signed our first Payout customer contracts and expect that to positively impact our CQ1 2023 revenue and beyond.”
Payouts are currently used in many verticals, including gambling sites, adult entertainment, gaming finance and affiliate payouts, among others.
Sellers provide recipient information and amounts to Rocketfuel via APIs or CSV upload. Recipients use Rocketfuel’s mobile app to view their balance and select a payment method and currency. Many choose stable coins linked to FIAT currencies to eliminate volatility risk.
About RocketFuel Blockchain, Inc.
RocketFuel is a global payment solutions company that provides online customers with a simple, user-friendly, one-click payment process that accepts payments by wire transfer, Bitcoin and 160+ cryptocurrencies. RocketFuel delivers a highly secure and efficient shopping cart experience with significantly low merchant fees, along with the benefits of no chargebacks and no card declines. RocketFuel also offers B2B cross-border crypto payment solutions and a crypto payment service, and is developing a token-based loyalty program. More information about RocketFuel is available at: www.rocketfuel.inc
Disclaimer for forward-looking statements:
The company believes that this press release contains forward-looking statements as this term is defined in the Private Securities Litigation Reform Act of 1995. Terms such as “may”, “may”, “would”, “should”, “could”, “project”, “estimate” , “pro forma”, “predict”, “potential”, “strategy”, “anticipate”, “attempt”, “develop”, “plan”, “help”, “believe” “continue”, “intend”, “expect”, “future” and terms of similar meaning (including the negative of any of these terms) may identify forward-looking statements. Such forward-looking statements, including but not limited to statements regarding management’s plans and objectives for future operations, are based on management’s current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. Actual results and the timing of certain events and circumstances may differ materially from those described in forward-looking statements as a result of these risks and uncertainties. Factors that could affect or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, market acceptance of the Company’s products and services; competition from existing products or new products that may appear; the implementation of the company’s business model and strategic plans for the business and our products; estimates of the company’s future revenues, expenses, capital needs and financing needs; current and future government regulations; and developments related to the company’s competitors. Readers are cautioned not to rely on forward-looking statements because of the risks and uncertainties associated with them. For additional information regarding such risks and uncertainties, you are encouraged to review the Company’s filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K for the fiscal year ended March 31, 2022 and quarterly. Reports on Form 10-Q for the fiscal periods ended June 30, 2022 and September 20, 2022. The Company undertakes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required of the law.
For more information, please contact:
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