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Table of Contents

Lead Story

How to keep tabs on reps, merchants – Part 2

News

Industry Update

Report tells acquirers how to stay in the game

Name for ATM payment hub

Trouble for UC in the U.K.?

Bitcoin kiosks enter marketplace

'Hands-free' payments beckon

Selling Prepaid

When Big Data meets fulfillment

Features

Opportunities on mobile horizon

Views

Visa's new third-party registration fees – unintended consequences

Ken Musante
Eureka Payments LLC

Tackle risk vectors to improve portfolio performance

Ross Federgreen and Ed Barton
CSR / G2 Web Services

Education

Street SmartsSM:
It's not what you say

Dale S. Laszig
Castles Technology Co. Ltd.

Busting myths about change

Jeff Fortney
Clearent LLC

Evaluating payment gateway performance

Chandan Mukherjee
PayCube Inc.

Company Profile

Cutter LLC

New Products

Funding approval in minutes

CAN Mobile Funder
www.capitalaccessnetwork.com

Seamless QuickBooks integration

ePNSync
www.eprocessingnetwork.com

Inspiration

Roll out the welcome mat at work

Departments

Letter From the Editors:

Readers Speak

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

September 23, 2013  •  Issue 13:09:02

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Bitcoin kiosks enter marketplace

The alternative currency known as Bitcoin is looking more legitimate with news that the first bitcoin ATM/kiosk is now available on the market. Las Vegas-based Robocoin Technologies reported in late August 2013 that it was accepting preorders for Robocoin Kiosks, free-standing, self-service kiosks that allow for trading bitcoins.

A Robocoin blog post said that the kiosks comply with federal regulations and include bank-grade hardware and security. The kiosks sell for $20,000 per unit and can be purchased with U.S. dollars or bitcoins. Robocoin offers a revenue sharing opportunity for kiosk owners. The post said that not only will the kiosks attract bitcoin users to businesses, but the kiosks will also have a positive influence on the overall bitcoin market.

"[E]very Robocoin on the market increases bitcoin liquidity and usage, putting upward pressure on the digital currency's valuation, awareness and legitimacy," the post said.

Robocoin said its kiosk is integrated with popular bitcoin exchanges Mt. Gox and Bitstamp and that trades conducted via the kiosk are done in real time. The kiosk also features a palm vein scanner to satisfy anti-money laundering regulations and a webcam for identification verification and to comply with know-your-customer requirements.

Kiosk users insert cash into the machines and then scan quick response codes with smartphones to transfer bitcoins to mobile wallets. The process can also be reversed, allowing users to redeem bitcoins for cash. Users must initially enroll via the kiosks, which involves facial recognition, palm scanning and ID card verification.

At the beginning and the end of each kiosk-facilitated transaction, the kiosk dispenses tickets to users – the initial ticket provides users a unique transaction ID and the following ticket is a receipt for proof of purchase.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | USAePay | Impact Paysystems | Electronic Merchant Systems | Board Studios