Date post: | 11-Apr-2017 |
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Economy & Finance |
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BLOCKCHAIN CURRENCIES TRANSFORMATION OF GLOBAL COMMERCE
Steve Beauregard Founder & CEO [email protected]
LinkedIn.com/in/sbeau Twitter: @GoCoin @GoCoinCEO @ziftrCOIN
Millennials are the largest generation in U.S. history
• Distrust financial institutions
• Readily adopt new technology
• Want more secure payment methods
Millennial Shopping Trends :
• Buy online, pick up in store
• 69% Participate in loyalty programs
• Smaller retailers will struggle to stay relevant without a program
• 64% view gift cards as a more secure way to shop and avoid identity theft
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Generational TrendsMillennials expect innovation
“Millennials believe startups will make banks obsolete in 5 years.”
75.6m
61.7m
54m
39.9m
GenWe 0-15
Millennials 16-34
GenX 35-47
Boomers 48-66
Matures 67+
76.6m
Top Priorities for North American Retailers in 2016
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Payment security
Unified commerce platform
Real-time tracking (pricing, inventory, analytics)
Customer-facing technology in the store
Mobile point of sale 24%
34%
44%
44%
63%
Source: Boston Retail Partners, 2015
October 1, 2015 Visa, MasterCard, American Express and Discover liability shift for POS terminals.
October 1, 2016 MasterCard liability shift for ATMs.
October 1, 2017 Visa, MasterCard, American Express and Discover liability shift for pay-at-pump gas stations, as well as for Visa and AmEx at ATMs.
This liability shift is putting pressure on merchants to comply with new EMV security standards or risk being held liable for all fraudulent transactions.
GoCoin arrives at just the right time, offering merchants tokenized security so they no longer have to view or store credit card information, thus eliminating security risks and liability.
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Timeline for EMV Chip Card Liability Shift in the U.S.Shift is making credit card security a top priority, forcing merchants to look at new options like GoCoin
57% Didn’t want to pay shipping
48% Total Cost more than expected
41% Research or comparison shopping
27% Wanted a discount coupon
24% Sought other payment options
22% Website credibility questions
19% Couldn’t wait purchased at brick-and-mortar
15% Frustrated by complicated checkout experience
12% Various other reasons
59% Shopping Cart Abandonment
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Source: http://www.webstrategiesinc.com/blog/online-marketing-reducing-shopping-cart-abandonment-rates
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MerchantsTop Tier Brands
Merchant adoption steady • Users need encouragement
“I believe merchants have been widely disappointed by the number of transactions they see in bitcoin. Most merchants have taken a passive approach to integrating bitcoin as a payment method, instead of strategically testing and optimizing checkout flows to encourage consumer adoption.”
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Bitcoin’s lack of use in commerce is not just a “chicken and egg” problem
Steve Beauregard, CEO of GoCoin Sources: Pantera Capital, ZepChain, CoinDesk (http://www.coindesk.com/is-bitcoins-merchant-appeal-fading/)
Consumer Adoption: The Long Pole in the Tent
Merchants generally welcome Bitcoin adoption Lack of consumer adoption is the fundamental problem
Consumers need compelling reasons to use the volatile and still relatively hard to acquire Bitcoin over alternatives
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How do we make mainstream consumers care about Blockchain currencies?
It took 30 years for credit cards to be used by 50% of households.
Mass adoption occurred in the late '80s when credit card companies began offering
rewards and points programs. Sources: First data White Paper
Rewards have also become a popular feature. About 76% of credit card holders Receive rewards on at least one card, with 51% saying the Rewards have a strong impact on usage. All told, 58% of all credit cards earn rewards.
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The GoCoin Checkout ProcessRewarding consumers every time they shop
••••••••••••
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GoPay customers can login to any store and
all their purchase information is saved
GoPay saves addresses, so
choosing a shipping location is easier
than ever
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Choose your preferred
shipping method.
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Divide your payment among
your saved cryptocurrency and
credit cards
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Verify your order and payment
details, then place the order.
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Just by using the GoPay system, you will earn points to
redeem at any GoPay merchant!
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By checking out with GoPay, the user has automatically created a fully PCI-compliant, cloud-based GoPay Wallet that holds your credit cards, your digital currency and your shipping addresses. Plus, every time you
shop you can earn points and rewards for future transactions.
You have complete control of your wallet and the checkout system.
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Consumer Benefits18
GoCoin consumer incentives to drive coin adoption
Consumers are ready for the next-generation loyalty program
GoCoin introduces a loyalty program seamlessly integrated into the behaviors customers already engage in
79.8% of consumers actively use coupons while shopping
GoCoin’s payment platform includes digital coupons that users can access when they shop online or in-store
Consumers fear credit card fraud and identity theft
GoCoin enables the use of digital currency - the most secure form of payment available - and implements tokenized security features to make even credit card payments more secure than ever
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GoCoin’s Answer to Consumer Adoption
Shoppers can store all their credit cards,
altcoins and coupons in the GoCoin mobile and
cloud wallets so wherever they are, they'll always have
access to all their payment methods.
When shoppers are ready to check out, GoCoin displays all their stored payment methods so completing a transaction is easier than ever.
CLOUD & MOBILE WALLET
CHECKOUT SYSTEM
Incentivize the consumer to “own” the checkout process.
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Easy Coupon Redemption
Coupons are integrated directly
into the GoCoin wallet, allowing
merchants to reach out directly to
consumers with targeted offers.
GOCOIN OFFERS
20 Extra Points
5 Points and Free Shipping
Points Worth Double
REDEEM
REDEEM
REDEEM
Check out in the next 10 minutes to earn10 additional GoPoints!
YOUR CREDIT CARDS
YOUR CRYPTOCURRENCY
$4356.00 $644.00
$1250.00 $750.00
258.125
BTC
62.33
LTC
124.25
DOGE
MOBILE WALLET
DIGITAL COUPONS
124 POINTSREDEEM SEE OFFERS
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Digital coupons and a points systems based on Blockchain technology are the key to adoption rates going up moving forward.
Case Study22
Driving behavior change from credit card & money orders to bitcoin
The merchant wanted to reduce the cost of credit card transaction fees and personnel expenses associated with mail-in checks and money orders.
1 2 3
Developed simple custom checkout
process integrating GoCoin
Produced low-cost "How to get bitcoin" video with step-by-
step instructions
Proactively posted video on site and
blog, then sent links to customers
RESULTS:
On-boarded 30,000 unique new bitcoin users in 3 months
20,000 transactions per week with average order value of $6.50
Annual savings estimated at
$457,600/year
THANK YOU!
GOCOIN GLOBAL LEADER IN BLOCKCHAIN,
PAYMENTS & LOYALTY INNOVATION
Steve Beauregard Founder & CEO [email protected]
LinkedIn.com/in/sbeau Twitter: @GoCoin @GoCoinCEO @ziftrCOIN