BC / ACCESSWIRE / June 19, 2017 / First Bitcoin Capital Corp (OTC: BITCF) and Simple Automated Money, Inc. (SAMCO) announced today that SAMCO will provide automated check-cashing kiosks through BITCF locations in Northern California. SAMCO’s Web-enabled automated check-cashing kiosks merge unique and exclusive check cashing capabilities to provide unbanked consumers with a fast and confidential check-cashing experience.
In a pilot test program, BITCF has ordered S.A.M. Kiosks to integrate Bitcoin ATM into self-service check cashing kiosks nationwide. BITCF is conducting the pilot test and studying customer acceptance of the check cashing kiosks with 3 units in Northern California. Company anticipates beginning a national rollout later in 2017. During the pilot, BITCF will offer discounted check-cashing services and will promote the new service through online advertising, in-store signs and special events … all aimed at consumers who use alternative check-cashing services.
Additionally, BITCF announced that development will begin to integrate Bitcoin buy/sell capabilities throughout a nationwide network of 85 SAMCO kiosks now in place and growing. Services the company plans to integrate will include BITCOIN ATM transactions, money orders and transfers as well as check cashing through touchscreen, bio-metric secure access.
BITCF is an exclusive distributor of SAMCO check-cashing kiosks in California for the medical cannabis dispensaries and is expanding to include other high traffic retail locations, such as C-Stores and supermarkets. It will offer competitive products and services allowing consumers to cash any type of check: government-issued, payroll, business and others. Studies have shown that offering check-cashing services on premises to be an effective method to increase store product sales.
According to FDIC (Federal Deposit Insurance Corporation) recent 2015 National Survey of Unbanked and Underbanked Households, indicates that more than 7 percent of households in the United States were unbanked in 2015. This proportion represents approximately 9 million households. An additional 19.9 percent of U.S. households (24.5 million) were underbanked, meaning that the household had a checking or savings account but also obtained financial products and services outside of the banking system. By offering check cashing, BITCF’s ATM Division expects that Kiosk location owners will increase their customer base significantly.
Kiosk use is simple and fast: customers insert an ID card and check, validate their identity through on-board fingerprint technology. The S.A.M. Kiosk validates the information, verifies customer identity, performs an online check authorization and issues an approval or decline back to the consumer before dispensing cash.
“Self-service check cashing kiosks with integrated Bitcoin ATM capability is another innovation in the company’s history of defining convenience for customers,” said, Bitcoin president.
According to CoinRadar.com, as of 2017 there are only a total of 571 bitcoin ATMs in the entire US. Due to the low number of bitcoin ATM locations nationwide there is a huge demand from customers seeking to buy or sell bitcoins for cash. People seeking to use a bitcoin ATM are willing to drive across entire cities just to use one, so combining a check cashing self-service kiosk with a bitcoin ATM and placing kiosks in strategic high traffic retail locations is win-win for the vendors and consumers.
Simple Automated Money, Inc. is the leading provider of automated check-cashing kiosks in the United States. Actively involved in check-cashing since 1995, SAMCO has merged related but independent transaction processing systems into a simplified kiosk allowing customers fast and convenience access to their cash.
About First Bitcoin Capital Corp.
First Bitcoin Capital Corp is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management’s experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At the current time, the Company owns and operates more than the following digital assets:
http://coinqx.com/ cryptocurrency exchange, registered with FINCEN.
http://strain.id/ cannabis strains genetic information depository on decentralized Blockchain
http://www.icoinews.com/ real time cryptocurrency and bitcoin news site.
http://bitminer.cc/ providing mining pool management services.
http://www.2016coin.org/ online daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.
http://bitcannpay.com/ Open Loop merchant services for dispensaries.
List of most Omni protocol coins issued on the Bitcoin Blockchain and owned by the Company:
Second Omni wallet owned by CoinQX reflecting our airline mileage tokens issued:
Certain statements contained in this press release may constitute “forward-looking statements.” Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company’s filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of the press release .Such forward-looking statements are risks that are detailed in the Company’s filings, which are on file at www.OTCMarkets.com.
SOURCE: First Bitcoin Capital Corp.