RocketFuel Blockchain Inc (OTCQB:RKFL) is making waves in the financial technology space, offering an end-to-end payment solution that it says sets it apart from competitors.
In an interview with Proactive's Steve Darling, Daniel Gonzalves, the company's vice president of Sales, shed light on the company's innovative approach and the key factors that distinguish it from others in the field.
Daniel Gonzalves: I think the biggest thing that separates us from everybody else is, we're an end-to-end payment solution. We have an integrated suite of products, we're not just doing crypto payments. In addition to that, we also move money from the blockchain, we're using crypto technologies to help us avoid certain troubles with Swift and traditional banking platforms. And we don't hold any crypto ourselves even though we are a crypto company, we don't hold any crypto. We don't want to expose ourselves and more importantly our merchants to any volatility in crypto.
Proactive: Daniel, you've said in the past that the thing that really separates you is your ease of use, and especially for companies that are looking at adopting these platforms. Can you talk a bit about how easy it is to use the systems?
From a merchant perspective, the integrations are super easy. We have plugins for all the major e-commerce platforms, we have APIs (application programming interfaces), we have SDKs (software development kits) and we have a development team that will handhold anybody through integration. From the shopper's side, it's even easier. They go to checkout; it's just like any other checkout, they open up their wallet, scan a QR code, and they're done. We try to make everything as simple as possible. Even our payouts platform, if you think about how complex payouts can be from compliance and global payment rails and all that other stuff. From a merchant side, you deposit some money into a new bank account; from a payee side, you sign up and you choose how you want your payment. It's as simple as it sounds.
And it's fast too, right?
Daniel: It's extremely fast. When we're talking about using the blockchain, we can process a payment cross borders, in as little as 30 seconds, five minutes depending on network congestion. But when you're talking about the bank, good luck sending $100,000 from here to pick a country.
Let's talk about gift cards because that's a really interesting integration that the company has done. Obviously, gift cards are huge; everyone uses them. Can you talk about how they work as far as RocketFuel is concerned?
Gift cards allow us to be creative in the way that we handle payments. So, instead of using a traditional, prepaid Visa, MasterCard, or maybe you're using a debit card, whatever it is, you can now fund these gift cards using crypto; they're technically an NFT (non-fungible token) on the blockchain. So they're a digital ledger that lives forever if anybody wants to see the balance. And you can spend those with merchants within our network, avoiding the hassles of high-risk merchant fees, high-risk, merchant processing, declines, chargebacks, etc.
I also want to ask you a little bit about the dashboard, because that's an interesting part of the company as well, because it not only provides a record of what you've done, but it also provides a lot of unique data that a company or someone using it can really use to their advantage.
For me, my favorite part of the dashboard, is we have real-time reporting. So if you wanted to do month to date up to the minute and you wanted to see all your transactions, any history, whatever happened, you can pull that real-time to the dashboard. More importantly, we have a single dashboard, so it's not like you have to learn all these different systems and all these different software and “how do I do this”, you log into one place if you're doing pay-ins. If you're doing payouts, whatever you need to do, it's one place one URL, your accounting team does not have to learn three different software. It's very straightforward.
Lastly, Daniel, we've seen the growth of the company over the last few months. Do you expect that to continue for the rest of this year and into 2024?
The sky's the limit for us. There are a lot of very interesting things on the horizon; a lot of things happening in the partnerships. Some of you may have known, that we did receive an award from Ripple. So a lot of great things in the upcoming future.
This interview was edited for style and clarity