Introducing My Latest Project: Coinme, WA State’s First Bitcoin ATM

coinme logoI’m excited to announce the launch of a new company and project, Coinme.

In addition to forming a new company around the cryptocurrency industry, we just launched the state of Washington’s first Bitcoin Kiosk, or better known as an ATM, on Thursday at a downtown Bar and Grill called Spitfire.  These machines provide a quick access portal to buying and selling the popular cryptocurrency and allow users to to turn their cash into bitcoin, or vise versa.  It simply is the fastest and most secure way to buy and sell bitcoin in the world.

Also notable, we are the nation’s first Licensed Bitcoin Kiosk, meaning the State of Washington and the Department of Financial Institutions has declared our business lawful to operate as a money transmitter within the state of Washington.

I will expand on my thoughts about the new emerging cryptocurrency industry and why I am choosing to dive into it in the near future.  Stay tuned!

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Below are a few media articles and more from our press release:

Meet your Bitcoin ATM: Digital currency craze hits Seattle, with help from startup vets

Seattle Welcomes Its First Bitcoin ATM Kiosk at Coinme Launch Party

 

Seattle Technology Executives Launch First Bitcoin Kiosk in the Pacific Northwest

The Coinme Kiosk will be the first licensed bitcoin kiosk in the United States

SEATTLE, Wash. – May 1, 2014, Seattle-area residents will now have a way to conduct fast and secure bitcoin transactions via the Coinme Kiosk. Built by world-leading kiosk manufacturer Robocoin, first-time bitcoin users or avid enthusiasts will now be will be able to buy and sell bitcoin as securely as using a standard ATM.

The launch of the Coinme Kiosk comes months after working closely with state and federal regulators to ensure compliance with existing money transmitter laws, anti-money laundering protocols and KYC (“know your customer”) requirements. As a result, Coinme is the first licensed Bitcoin Kiosk in the United States and complies with state money transmitter laws.

To celebrate this bitcoin milestone, the Seattle community is invited to see a demo of the first Coinme Kiosk and hear a panel of industry experts discuss the potential of cryptocurrency at the company’s launch event beginning at 5:00 p.m., May 1, Spitfire 2219 4th Ave, Seattle, WA.

“Coinme was created out of the frustration local technology executives had with the current state of the Bitcoin market,” said Nick Hughes, General Manager of Coinme. “In order to reach its full potential, the cryptocurrency industry needs more accountability and consumer protection. The market also needs more leaders who are offering education and community outreach,” he said. “Coinme was founded with the goal of bringing all of those factors together. The kiosk is just the start.”

In the coming months, Coinme will roll out additional kiosks in the Seattle metropolitan area. To use the kiosk, users will only need their cell phone and driver’s license. Transactions generally last 5-10 minutes and the funds settle almost immediately; whereas, transactions through online exchanges can take several days. Check the company website for more information and join the newly formed Seattle Bitcoin Meetup for upcoming social events and educational programs.

“At Coinme, we’re a team who believes the digital currency industry needs more accountability and leaders who are accessible to help the general public understand the potential of this new means of exchange,” said Hughes.

 

LAUNCH PARTY DETAILS

Thursday, May 1st, 2014 from 5:00 – 9:00 p.m. PST

Spitfire – 2219 4th Avenue Seattle, WA 98104

 

5:00pm – 6:30pm       Networking and Kiosk demos

6:30pm                       Official Coinme announcement

6:35pm                       Bitcoin Panel

6:55pm                       Audience Q&A

7:00pm                       Kiosk demonstration

7:15pm                       Social and kiosk appointment booking

 

ABOUT COINME

Coinme is on a mission to increase cryptocurrency literacy, build the local cryptocurrency economy and provide the fastest and most secure solution for buying and selling Bitcoin.

COINME INFOGRAPHIC

Coinme partnered with Killer Infographics to create an easy-to-understand explanation of bitcoin and how the Coinme Kiosk works. The infographic can be found here.

 

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For general information please go to: www.coinmekiosk.com and follow @CoinmeKiosk

Press inquiries: press@coinmekiosk.com

General inquiries: hello@coinmekiosk.com

Seconds Is The Fastest Mobile Payment Method Involving Dwolla Or A Credit Card

As the name suggests, Seconds is the fastest way to make a mobile payment using either Dwolla (digital cash from bank account) or a credit card.

If you are familiar with Seconds you may already know you a transaction can be completed by simply texting the merchant phone number with a keyword (that they previously set up) or any dollar amount value you wish.  With an account already created and payment credential already in place, the transaction instantly takes place securely in the cloud and you are done!

No text boxes to mess with, pinching and zooming or other hassles.

It’s that easy.  Watch this video to see just how easy Seconds payments are…

If you are walking through the mobile web experience for the first time with no previous Seconds account, you will see below we’ve made it a piece of cake to complete.

Click here if you are interested in accepting payments in Seconds >

Go to getseconds.com

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Find the merchant.

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Input the amount.

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Complete payment with Dwolla.

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Or complete payment with credit card.

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It’s that easy.

Click here if you are interested in accepting payments in Seconds >

Seconds Was Just Given A HUGE Holiday Gift, And It’s Not Even Halloween Yet!

Christmas is still more than 2 months away, but we are already full of holiday cheer.  We have been chosen to be a part of a large holiday tradition, putting Seconds payments on the national stage and changing the trajectory of our company forever.

What it is?  Can’t tell just yet.  But I can tell you it’s not proving mobile payments at Macy’s.  And it’s definitely not a Starbuck’s payments deal, Square already go that one!  Stay tuned for more details in the next few weeks.

But let’s just say Square can’t do what Seconds is about to do.

Lift Off… In Just A Few Seconds

…6… 5….4….3…2…1…

WE HAVE LIFT OFF.

This is exactly what I am feeling right now as we prepare for our latest release.  And it’s a huge release.  In fact, it’s a company defining release and will launch us into brand new territory.  It involves a Seconds launch event Friday night in Seattle, with hundreds in attendance.  It involves national press coverage.  It has involved weeks of (almost) all-nighters from the team – blood, sweat and tears.

It, by all regards, has been the most challenging but exciting time of each one of our lives.

It also involves a hell of a lot of dev work on the product.  We basically rebuilt Seconds from the ground up, keeping what worked and threw away the unnecessary.  At the time, I didn’t think we could make a more streamlined payment experience, but we did!  This could be taken as blasphemy, but the Seconds payment experience is unlike any other.

If you are are a frequent reader you know we have experienced growth each and every month yet we were struggling to onboard new customers/find the right market.  Based on that situation, during this summer we decided it was time to expand what was working and remove what wasn’t.

If it’s on or after Sep 28th, check Seconds out now!

Here’s a run down of our changes.

1.  We stripped away much of the old merchant experience, it was too clunky and confusing and have drastically redesigned the experience from the ground up.  Seconds is truly a new age payment system, built mobile first. 

2.  We realized the payment experience must be available to everyone (device agnostic), available and functional anywhere the consumer finds themself (proximity agnostic) and merge together communication and transaction for a quick but complete commerce experience.

3.  We created a clean interface for both individual and merchant accounts, easily usable and quicker to complete a task.  The product is even leaner than before and in my opinion, way more potent.

4.  The Seconds experience starts with a simple search bar asking you “who do you want to pay?”  You can make payments by searching name, email, twitter @username, phone number and possibly location, if they are not in our system there will be an option to send a quick invite.  If you find them, you then enter an amount and click pay.  That’s it.  The new interface is an interesting direction we are leaning towards…. The merging of Search and Payments.  It’ll be exciting to see how this will be used and where it will go from here, especially with merchant’s ability to create keywords. ☺

5.  We reimagined what “accepting payments” meant, and have now placed the opportunity one click away from a general Seconds user.  Basically, anyone can instantly upgrade to a “merchant account” if they want.  The cool thing is merchants are users by default, so they can make payments as well as accept them.

6.  We split payment acceptance in two options: a web only account (people are only able to make payments to that account via the web) and a text enabled account (involving both the web and messages sent via text/keyword based payments).  Web only is free.  Text enabled is $5 per month.  All merchants are charged $.50 per transaction through Seconds.  We believe the free monthly option will be a big winner and help increase merchant account creation.

7.  Creating a merchant account and accepting credit card payments can happen in just a few minutes – all on a mobile device if necessary.  It’s truly an amazing experience.  This was not the case just a week or so ago – a recent discovery of a new payments partner is going to open doors previously unimaginable.

8.  Based on these changes our margins are becoming even more awesome.  We enhanced how we are facilitating credit card payments and digital cash payments to create not only a better merchant onboarding but a better overall business.  This is huge and will allow for a nice cashflow in the short term as we get going.

9.  We have decided to focus Seconds on the college/University/Greeklife student market.  We have been told over and over how desperate they are for a sleek payment system where mobile users can quickly make a payment on the fly when they need to.  There is also strong interest in non-profits and donation collections for the same experience.  These two markets have one big thing in common: the payment is the product, in the sense there’s typically no physical product to be served.  This is where we’ll start and should get some strong growth from there.

Below is just a few of the events on our calendar:

Sep 28th – Media Launch of new Seconds payment system

There will be solid media coverage of the launch of our new system.  Sky’s the limit.

Sep 28th – Startup Crawl Fights Poverty

I have organized an event for the startup Seattle community and which will double as a launch party.  It will be a great night, should grab some exposure for Seconds and you are definitely invited if you are in Seattle.   https://soentrepreneurial.com/2012/09/18/the-seattle-startup-crawl-fights-poverty-september-28th-at-5pm-rsvp-now/.

Oct 1st – 3rd. – DEMO Conference

We will be down in SF for the DEMO conference, the trip we won during the SURF Incubator pitch competition.  It will be fun and we’ll be working on meetings and connecting with people there.  If you are in SF, please connect with me.  @jnickhughes.

Oct 16th – 18th –  TwilioCon

Twilio (the platform we use for communications) has invited Seconds to be a part of the event, one of a select group of startups to demo/highlighted during the event.  TwilioCon will be an awesome time for Seconds to get some solid attention from other startups, users, investors and media.

Soon – Dwolla partnernership

Dwolla will be making some big announcements and they have asked us to be associated with the event.  More on this soon!

The 2 Slides in Seconds Pitch Deck That Will Knock Your Socks Off

Over 4 billion people around the world don’t hold a smartphone or have the ability to download a native payment app, but that shouldn’t exclude them from the mobile payment experience.  All signs are pointing towards payments following the changes mobile technology is bringing to the rest of the world, and if history has anything to say about it a new platform will have to be built from the ground up.  That is why  we are building Seconds.

Seconds is mobile payments using the most intuitive experience we have on our mobile devices – text messaging.

Using the Seconds platform, brands have the ability to identify specific keywords that when sent to their Seconds number automatically trigger transactions for the accurate amount.  We see a whole new payments market opening up where no human being has to be on the other side receiving the payment.  We call these experience Single Party Transactions and they are estimated to grow to almost $10 billion by 2016.

How cool is Seconds?  Here are 2 slides that will knock your socks off.

view demo video

Mobile transactions will drastically change our society and the market for paying by mobile device is said to be well over $1 trillion by 2015.  Most significant will be the transformation in how we use our mobile devices in everyday commerce.

Your Life Happens In Seconds (Video)

We live our life as a collection of seconds.  Why should it take any longer to make a purchase or connect with brands we care about?

At Seconds, we built a system to drive secure payments through text messages, allowing someone to quickly make a instant and automatic transaction by simply texting a keyword to a merchant.  Amazingly, it only take a second to send a text message.

Think about it, a merchant can now ping your mobile phone with a message informing you to complete the transaction by simply responding with a specific prompt. How would they know to do that? Your phone number can now become your payment credential, and since they can instantly reach you via short message from pretty much anywhere in the world, payments have no limitations.

Imagine how things will change when we all can interact and transact with any brand in the world in Seconds?

Should Paying $950 With A Text Be This Easy? (video)

Seconds is the simplest way to pay using a mobile device.

Take paying your rent for instance.  It sucks to have to write a check, get a money order or remember to go online and make a payment.  Even if you use an automatic online rent payment system you might not remember what day it will be taken out of your account, which can be frustrating.

So should paying with a text message be this easy?  In a word – yes.  Life shouldn’t require you to download a specific app or stop by the cash machine to get cash.  Seconds is the simple way for you to make a mobile payment for everyday things.

Watch the video below to get an idea of how fast Seconds payments can be.

1. Type “Pay Rent”

2. Confirm the amount

3. Receive a text stating the completion of your payment.

Imagine what else you can pay for with Seconds.  Imagine your life…. in Seconds.