SAN FRANCISCO, June 29, 2021 /PRNewswire/ -- RocketFuel (OTC: RKFL) ("RocketFuel" or the "Company"), a global provider of crypto payment solutions, today announced what it believes to be the industry's first "Price Settlement Guarantee," which allows merchants to always receive deposits equal to the listed price of goods sold without ever being affected by crypto-to-fiat exchange rate fluctuations. With RocketFuel, merchants can now fully capitalize on their sales without having to worry about rejecting orders due to a lower value of final settlements.
Similar to foreign exchange transactions, incoming cash deposits from crypto payments can fluctuate due to volatility in conversion rates, which makes it challenging for merchants to receive the full listed price of the product after an order is placed. When this happens, merchants are forced to either accept the lower settlement, contact the customer to request additional funds or decline the transaction altogether -- all of which negatively impacts merchants and makes it difficult to forecast profitability.
RocketFuel is the only crypto payments solution provider that guarantees merchants will receive full settlement for the price of goods or services purchased. As soon as the customer pushes 'send,' RocketFuel locks in the price at the current exchange rate and settles the transaction at that rate, regardless of how the market has fluctuated in the interim.
This ensures that merchants enjoy all of the benefits that crypto payments provide - low fees, fast cross-border transactions, no chargebacks, and no declines while being protected from any downside risk in exchange rate fluctuations.
"Reconciling crypto deposits from online orders has always been a time-consuming exercise. The same $100 flight ticket can show up in our system as $98.53 or $99.01 after crypto-to-dollar conversion, which leads to confusion and ultimately losses in revenue. Providing online merchants with an automatic price settlement guarantee is definitely a step in the right direction," said Randy Alleyne, CEO of Sky-tours, a discount travel fare provider.
"RocketFuel has always looked for ways to help merchants improve sales and access to customers worldwide. Our new Price Settlement Guarantee takes this to the next level by making it easier for merchants to accept crypto payments without any exchange rate risk. This merchant-friendly approach makes the crypto payments experience easier and more accessible to merchants so they can focus on growing their business and not back-office reconciliation tasks," said Peter Jensen, CEO of RocketFuel.
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 Bitcoin and 50+ cryptocurrencies. RocketFuel provides 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's solutions focus on enhanced customer privacy protection eliminating the risk of a data breach while improving speed, security, and ease of use. Shoppers on RocketFuel powered online stores enjoy seamless check-out and forget the clunky cart paradigm of the past. RocketFuel merchants are able to implement new impulse buying schemes and generate new sales channels that are unavailable in other present-day e-commerce solutions. More information about RocketFuel is available at: www.rocketfuelblockchain.com
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, 2020 and Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2020. 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.
SOURCE RocketFuel Blockchain Inc.