GoCoin is a payment gateway and loyalty system for online and retail merchants. Its technology solutions allows these merchants to accept "blockchain" currencies such as bitcoin, litecoin and dogecoin as a payment method.
The merchant can keep the coins, or it can instantly exchange them to its preferred currency.
For merchants that use its solution, GoCoin assumes any risk, eliminates costly fraud associated with credit card theft, and removes the possibility of chargebacks.
Once its easy-to-install payment gateway is integrated into the merchant checkout flow, the eCommerce site will not only accept blockchain currencies, but its customers can also pay with credit cards. Upon first checkout, shoppers will have the opportunity to securely save their payment preferences into the GoCoin online "wallet."
Most consumers expect loyalty points or rewards as part of their shopping experience. In fact, 27% of consumers say they abandoned their online shopping cart because they "wanted a discount coupon." It's worth mentioning that it took 30 years for credit cards to reach 50% of U.S. households. Mass adoption occurred only in the late 80s, after credit card companies began offering loyalty and rewards programs.
Accordingly, the GoCoin platform provides a full blockchain-backed loyalty program that gives merchants the ability to provide discounts and incentives to engage customers and increase sales.
GoCoin earns revenue from gateway transaction fees (GoCoin takes a 1% fee), and margin on selling blockchain currencies.
* Company Status *
GoChain launched its service in December 2013. In 2014, GoCoin was featured in Entrepreneur Magazine as the "Hottest LA Startup."
By February 2015, it had signed major partnerships, including with real estate company RE/MAX UK to offer digital currency payments for rental customers.
By November 2015, the company was cash flow positive on an operating basis. In December 2015, the company processed its one millionth transaction. It now process more Blockchain transactions for payments of goods and services than any competitor worldwide. Its turnover in December 2015 was $2.71 million.