Quote from: davos on July 23, 2013, 06:39:57 PM

Why would a merchant go through the trouble of 'enabling' or integrating your product into their POS as opposed to integrating an established bitcoin payment provider or just doing it themselves directly?

Is it your belief that people just really love plastic cards?

I would have thought the hurdle for a 'bitcoin debit card' would be the ability to have a balance held in BTC and a card that would run on multiple major international interchange networks to purchase items denominated in local fiat.

Currently, the plan is to work one on one with POS manufacturers to integrate our card with their systems. The merchant will not have to go through the trouble of integrating our product. At most, a simple software update will be needed to integrate our card.

I don't believe people love plastic. However, they do understand it. They understand that to make a purchase with plastic; all it takes is a swipe of a card. Furthermore, plastic (With OTP Authentication) gives users more security rather than storing all their bitcoins in a local wallet. This especially applies to people who aren't computer savvy. I also believe NFC is the next big thing (Also enabled in our cards).

The goal of this company is to reverse such a system. It doesn't make sense to have bitcoins exchanged for fiat into a prepaid visa or mastercard. For one, the companies that provide these services charge the consumer 4-5%. Secondly, the merchant will still be hit with a 3-4% processing fee. Our goal is to allow merchants to fully accept bitcoin for their goods and services. Using this card, consumers wont be hit with any sort of fee and merchants will be charged with something much lower (1-1.25%).