SAN FRANCISCO, March 31, 2021 /PRNewswire/ -- RocketFuel Blockchain, Inc. (OTC: RKFL) ("RocketFuel" or the "Company"), a global provider of one-click online payment options using Bitcoin and other cryptocurrencies, today announced the launch of its blockchain-based payments solution. RocketFuel is the first cryptocurrency payment service to provide a seamless and elegant one-click checkout experience that today's digital- and mobile-centric consumers have come to expect from eCommerce marketplaces. The service allows merchants and consumers to easily pay via 43 different cryptocurrencies or direct bank transfer in a completely secure environment. The first merchants to implement RocketFuel's crypto acceptance functionality include global online travel portal Sky-tours and cryptocurrency tax accounting firm BearTax.
RocketFuel eliminates the need for payment intermediaries, significantly reducing merchant costs associated with card network fees, bank fees, and chargeback costs, and improves merchant cash flow. Using RocketFuel's secure API, merchants can integrate RocketFuel's payment solution in their online stores to offer highly optimized purchase experiences while reducing cart abandonment rates and fraud-related costs. In addition to being able to make payment from any cryptocurrency digital wallet, shoppers can also make payments in just one or two clicks directly from today's cryptocurrency exchange accounts, including Coinbase, Gemini, Kraken, Binance, and Bitstamp.
"Ecommerce has become mainstream, but the payment technologies available to merchants are old fashioned, based on technologies which are not in-line with the needs and demands of modern consumers who prefer digital and contactless payments over cards or cash," said Peter Jensen, CEO of RocketFuel. "Cryptocurrency represents the future of payments and is already disrupting the status quo by offering merchants a better, more economical option for their businesses and customers."
Sky-tours implemented RocketFuel's eCommerce cryptocurrency solution in its popular global travel portal to handle the surge in traffic to its site due to the recent post-pandemic revival of travel and tourism. "In the wake of Covid, the war on cash became a very real thing and RocketFuel's universal payment method empowered us to continue doing business regardless of the type of currency being used," said Randy Alleyne, CEO of Sky-tours. "RocketFuel is a pioneer in breaking down the barriers to entry on both sides of the transaction and changing the economics for merchants like us so we can operate in a highly efficient and profitable manner while preserving the security and trust consumers expect from our service."
BearTax, a cryptocurrency tax accounting firm, leveraged RocketFuel's solution to satisfy customer requests to pay for its services via cryptocurrencies. "As a provider of cryptocurrency tax software, we have a very high bar for working with other crypto providers and they must adhere to a stringent set of standards," said Vamshi Vangapally, CEO of BearTax. "RocketFuel checked all of the boxes and more, and has been a great partner - opening the door to innovative crypto payment solutions that makes our customer's lives easier."
Until now, demand among merchants and consumers for cryptocurrency payments has been limited and cast off as a future method of managing digital currency. All of this changed last year with the pandemic serving as a catalyst to the acceptance of cryptocurrency as a global, currency-agnostic method of payment. Last year, in the US alone, eCommerce grew by 44%, accelerating online sales by 10 years in mere months and fueling demand for crypto-based purchases. In addition, within the next few years experts forecast there will be over 200 million cryptocurrency wallet holders worldwide ready to participate in this new era of payments.
About RocketFuel Blockchain, Inc.
RocketFuel Blockchain Inc. is a global payment processing company offering online merchants next generation blockchain payments solutions that include efficient and intuitive acceptance of 43 cryptocurrencies and direct bank transfers, a highly secure and efficient shopping cart experience, and significantly lower fees and associated costs.
RocketFuel's solutions focus on enhanced customer privacy protection eliminating the risk of data breach while improving speed, security and ease of use. RocketFuel users are able to 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 were unavailable in present day eCommerce 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.