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 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.
“Rocketfuel Payouts is our third revenue source after e-commerce and B2B cross-border payments,” said Peter Jensen, Rocketfuel CEO. “We have already signed our first Payout customer contracts and expect it 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
Forward-Looking Statements Disclaimer:
The Company believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Terms such as “may,” “might,” “would,” “should,” “could,” “project,” “estimate,” “pro-forma,” “predict,” “potential,” “strategy,” “anticipate,” “attempt,” “develop,” “plan,” “help,” “believe,” “continue,” “intend,” “expect,” “future,” and terms of similar import (including the negative of any of these terms) may identify forward-looking statements. Such forward-looking statements, including but not limited to statements regarding the plans and objectives of management 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 by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence 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 emerge; the implementation of the company’s business model and strategic plans for its business and our products; estimates of the company’s future revenue, expenses, capital requirements and need for financing; current and future government regulations; and developments relating to the company’s competitors. Readers are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them. For further information on 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 its Quarterly Reports on Form 10-Q for the fiscal periods ended June 30, 2022 and September 20, 2022. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.
For more information, please contact:
monica.t@rocketfuel.inc
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