TORONTO--(BUSINESS WIRE)--GoldMoney Inc. (TSX:XAU), a financial technology company, which operates a global, full-reserve and gold-based financial services platform, is pleased to announce the launch of Gold Payroll and Gold Payout applications for the BitGold Business platform. The engineering and launch of the Gold Payout application completes another milestone in the build out of the BitGold B2B and B2C ecosystem.
The Gold Payout application is a free enterprise software tool for BitGold Business accounts that allows clients to set up and automate recurring payments to anyone with an email address or mobile phone number. The Payout application is designed to streamline international payroll, dividends, rebates, reward payments, partner & affiliate payouts, micro payments and more. Built on top of a global, closed-loop and full-reserve account structure, the Payout application allows for instant settlement of cross-border value transfers, which can also be automated to settle into any currency given the global nature of gold.
Advantages of BitGold Business Payouts:
- Send scheduled payments to many recipients at once
- Send payments to recipients in different countries and different currencies
- Faster and easier than writing business cheques or setting up multiple wire transfers
- Recipients get paid instantly in vaulted and titled gold bullion; can hold gold, redeem to local currency, or redeem to multi-currency GoldMoney Prepaid Mastercards
- Track payments easily
- Time and cost effective
Ways to utilize batch payments in business:
- Automate employee benefits or payroll
- Shareholder dividends
- Affiliate commissions and online marketing
- Customer rebates
- Gifts and incentives
- Social media marketing campaigns and giveaways
- Philanthropy and Impact Investing distributions
“We continue to deliver on our mission of building out a payments and savings infrastructure utilizing instantly settleable and programmable gold,” said Roy Sebag, GoldMoney CEO. “Our newest application allows anyone in the world to be paid in gold by their employer, facilitates frictionless-bulk micro payments to anyone in the world, and allows gold and other commodity focused companies to pay back their shareholders in gold as a return of capital or dividend. What we’re most excited about, however, is that it democratizes access to gold not only for those that part with capital, but also those that part with their labour and time.”
“As we continuously ship new products and improve the utility of the platform, all free to use for our clients, we also introduce new use cases that have never before existed for gold,” said Josh Crumb, GoldMoney CSO. “Gold is always and everywhere a store of value, but the technology of our platform can transform gold from an elite investment to the global-money that it has been for most of recorded history.”
GoldMoney Inc. is a global, full-reserve and gold-based financial services group. GoldMoney provides financial services as a trusted, limited third-party, combining the unique attributes of gold with technology-driven innovation. Through GoldMoney® the company offers precious metals custody and wealth services, trading and execution, and independent research to individual investors and institutions. Through BitGold™ the company operates a self-directed savings platform and a payments network allowing individuals and businesses to make or receive online, in-store or mobile payments. GoldMoney Inc. has over 900,000 user sign ups from over 150 countries and $1.7 billion in client assets under administration. GoldMoney is regulated by the Jersey Financial Services Commission (JFSC) as a Money Services Business. The JFSC is the main supervisory body that oversees and regulates Jersey's large financial services industry. For more information on BitGold, visit bitgold.com. For more information on GoldMoney, visit ir.goldmoney.com.
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This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the Company’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; unproven markets for the Company’s product offering; volatility of gold prices & public interest in gold investment; lack of regulation and customer protection; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; foreign currency and gold trading risks; use and storage of personal information and compliance with privacy laws; use of the Company’s services for improper or illegal purposes; global economic and financial market conditions; uninsurable risks; and those risks set out in the Company’s public documents filed on www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.