Allows merchants to pay their customers in crypto, bank transfer, and other payment methods
San Francisco, CA, March 31, 2023 — RocketFuel, Inc. (OTCQB: RKFL) (“RocketFuel” or the “Company”), a global provider of payment solutions via ACH bank transfers, Bitcoin and other cryptocurrencies, announced the official launch of its Payouts product.
RocketFuel’s new product helps businesses make payouts in crypto or FIAT currencies to freelancers, vendors, creators and employees. RocketFuel Payout is a natural extension to Rocketfuel E-commerce, which allows merchants to receive payments in crypto and bank transfer. Merchants can now offer both Pay-In and Pay-out services in digital as well as FIAT currencies from one, single, integrated solution.
Existing payment rails (e.g., bank transfers) are slow, unreliable, and expensive, especially across borders. Problems with bank transfers cause increased support costs and unhappy customers for merchants.
These are a few reasons why more and more recipients prefer to receive their payments in crypto directly to their phone or computer. It’s instantaneous, inexpensive, and reliable. In fact, according to a study released by financial services company SoFi last year, 36% of 1,600 HR leaders and employees surveyed wanted to receive part or all of their paycheck in cryptocurrency. “Payouts are Rocketfuel’s third revenue source after e-commerce and B2B cross-border payments,” said Peter Jensen, Rocketfuel CEO. “We have just signed our first Payouts customer contract and expect to positively affect our CQ1 2023 revenue and beyond.”
Payouts are currently used in many verticals including gambling websites, adult entertainment, gig economy and affiliate payouts, among others.
Merchants provide recipient information and amount to Rocketfuel via APIs or CSV upload. Recipients use Rocketfuel’s mobile app to see their balance and choose a payment method and currency. Many choose stable coins pegged to FIAT currencies to eliminate volatility risk.
About RocketFuel Blockchain, Inc.
RocketFuel is a global payments solution company that provides online shoppers with a simple, easy-to-use, one-click checkout process that accepts payments with bank transfers, Bitcoin and 160+ cryptocurrencies. RocketFuel delivers a highly secure and efficient shopping cart experience with significantly low fees for merchants, along with the benefits of no chargebacks and no card declines. RocketFuel also offers B2B cross-border crypto payment solutions and a crypto payments service, and is developing a token-based loyalty program. More information about RocketFuel is available at: www.rocketfuel.inc
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