Wampum Introduction Deck
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The document discusses the complexities and costs of traditional credit/debit payment processing systems and how they exclude unbanked businesses. It introduces Wampum as a solution that allows unbanked businesses and individuals to use electronic commerce via cryptocurrency payments. Wampum's software facilitates simple peer-to-peer transactions without intermediaries, delays, or chargebacks while saving businesses up to 90% of existing payment costs. Customers can load cryptocurrency wallets to make purchases from merchants using Wampum.
Wampum Introduction Deck
- 3. Setting the stage: How we view commerce A person exchanges currency for a good or service. Simple… peer to peer. Copyright Wampum, LLC 2017
- 4. The reality of commerce: Credit/ Debit Technology makes it seem simple. But that convenience is quite complex. 1. Card gets scanned; payment goes through merchant bank. 2. Payment goes through Visa network, then to credit card company for approval 3. Bank forwards the money; money comes from your account. Copyright Wampum, LLC 2017
- 5. The reality of commerce: Credit/ Debit “High Risk” business pay as much as 35% in fees and funds can be held as long as 60 days. Copyright Wampum, LLC 2017
- 6. The reality of commerce: Credit/ Debit No Bank, No eCommerce Copyright Wampum, LLC 2017 XXX
- 7. The Unbanked are Left Out Unbanked businesses can’t use electronic commerce. So… They get paid in cash They pay bills in cash And they store cash… http://www.usatoday.com/story/news/nation/2014/09/04/legal-marijuana- workers/15000903/ Copyright Wampum, LLC 2017
- 8. So they have to protect themselves… https://www.usatoday.com/story/news/nation/2014/09/04/legal-marijuana-workers/15000903/ Armed Couriers Armored Cars Surveillance Assisted Deliveries Strict Schedules Safe Storage Copyright Wampum, LLC 2017
- 9. Security: The Hidden Costs (16 – 26%) 3% 10% 3% 3% 2% 1% Cashiering Physical Security Collection Warehousing Delivery Audit Copyright Wampum, LLC 2017
- 10. •Handling cash is expensive due to cashiering mistakes and skimming. •American Society of Employers say as much as 20% of profits for cash businesses are lost due to skimming. Cashiering: The Losses Copyright Wampum, LLC 2017
- 11. It’s Time to Win with Wampum Unbanked companies & individuals can take advantage of electronic commerce. UNBANKED COMPANIES Save as much as 90% over existing payment processing and security costs MERCHANTS Less expensive and faster alternative to credit cards. Copyright Wampum, LLC 2017
- 12. Wampum Register© Software Merchant wallet safely manages your crypto payments. Copyright Wampum, LLC 2017
- 16. Wampum: Pay your Vendors Copyright Wampum, LLC 2017
- 17. Wampum: Pay your partners or employees Copyright Wampum, LLC 2017
- 18. Wampum Register© makes this possible A person exchanges currency for a good or service. Simple… peer to peer. No Intermediaries. No Delays. No Charge-backs. Copyright Wampum, LLC 2017
- 19. Wampum Q&A How do customers get cryptocurrency? Copyright Wampum, LLC 2017
- 20. Wampum Q&A: Customers Customers load their wallets with Bitcoin Copyright Wampum, LLC 2017 1. Customer downloads a wallet app. 2. Customer purchases cryptocurrency. 3. Ready to buy product.
- 21. Wampum Q&A: Customers Customers load their wallets with Bitcoin Copyright Wampum, LLC 2017 1. Customer creates account on an exchange*. 2. Customer funds online wallet with Credit Card, eCheck or Wire transfer. 3. Customer downloads a wallet app**. 4. Ready to buy product.
- 22. Wampum Q&A How do I accept payment? Copyright Wampum, LLC 2017
- 23. Wampum Q&A: Buying In-Person Simplified flow of funds for sane eCommerce Copyright Wampum, LLC 2017 *Cashiers can only accept payments! 1. Wampum Register© displays QR code. 3. Bitcoin transactions are now stored in your Merchant Wallet* and under your control. 2. Customer scans QR code to send payment.
- 24. Wampum Q&A: Buying Online Simplified flow of funds for sane eCommerce Copyright Wampum, LLC 2017 Payments take from 10 to 25 seconds to complete. The funds are typically available in about an hour. 1. QR Code displayed on Checkout Page. 3. Bitcoin transactions are now stored in the Merchant Wallet and under your control. 2. Customer scans QR code to send payment.
- 25. Wampum Q&A How does the ‘money’ flow? Copyright Wampum, LLC 2017
- 26. Wampum Q&A: Money Flow Copyright Wampum, LLC 2017 2. Wampum Register© tracks the Bitcoin on the Blockchain. 3. Consolidation moves the funds to the final destination. 1. Customers pay from their wallets.
- 27. Wampum Q&A What you do with your money is your decision not ours. Wampum Register© gives you many options. Copyright Wampum, LLC 2017
- 28. Wampum Q&A: Consolidation Your revenue. Your decision. 1. Manager runs consolidation. 3. Funds are sent to your wallet. 2. Transactions are combined and sent to your predetermined wallet location. Copyright Wampum, LLC 2017
- 29. Wampum Q&A: Consolidation (Banked) Direct settlement to the currency of your choice 2. Transfer to your bank via ACH or Wire 1. You can automatically exchange Bitcoin for US$ Copyright Wampum, LLC 2017
- 30. Wampum Q&A: What next? Once I own cryptocurrency, what then? Copyright Wampum, LLC 2017
- 31. Wampum Q&A: Options Copyright Wampum, LLC 2017 Pay Employees Partner Disbursements
- 32. Wampum Q&A: Options Copyright Wampum, LLC 2017 Pay employees via an Employee Service Company
- 33. Wampum Q&A: Options Copyright Wampum, LLC 2017 Thousands more: http://bit.ly/2rCXCW9 Pay vendors and suppliers
- 34. Wampum Q&A: Choices Copyright Wampum, LLC 2017 Convert to hard currency via local or Internet exchanges
- 35. Wampum Q&A How does the Merchant Wallet Work? Copyright Wampum, LLC 2017
- 36. Copyright Wampum, LLC 2017 Wampum Q&A: Merchant Wallet Merchant Wallet/ Master Seed Clerk Wallets Clerk wallets are only able to accept payments, not send them without the master seed.
- 37. Copyright Wampum, LLC 2017 Wampum Q&A: Merchant Wallet Master Wallet/ Master Seed Only the Master Wallet can send funds with user provided Mnemonic Code.* *Based on BIP39
- 38. Wampum Q&A What about compliance? Copyright Wampum, LLC 2017
- 39. • All transactions are in the Blockchain • Provides fiscal transparency and customer privacy • Wampum Register© is your virtual register; there is no third party necessary • No local bank required • No PCI Compliance required • No payment information means no fraud issues.
- 40. Wampum Q&A Is cryptocurrency easy to use? Copyright Wampum, LLC 2017
- 41. Is cryptocurrency difficult to use? • Cryptocurrency is new and a bit different • Other similar applications have been successful over the last two years. • Starbucks (27% of all payments*) • Walmart • Panera http://s21.q4cdn.com/369030626/files/doc_news/Q1/Q1-FY17-Release-Final.pdf
- 42. Wampum Q&A What about wallets? Copyright Wampum, LLC 2017
- 43. What about the mobile wallet? • Customers require a modern Bitcoin wallet. • Browsers, but for cryptocurrency. • Customers leverage the entire bitcoin ecosystem, not a proprietary service with a single vendor and point of failure. • International payments are supported.
- 44. Wampum Q&A What about volatility? Copyright Wampum, LLC 2017
- 45. • Cryptocurrency is more volatile than most first world currencies. • It is designed to appreciate over time. • Negative volatility risk is lower than risks associated with cash. • You can use exchanges to reduce volatility risk. Copyright Wampum, LLC 2017