The founder of Bitcoin SV (BSV) payment system Showpay was among entrepreneurs to pitch as part of the Bitcoin Association’s inaugural Pitch Day event.
Held at the CoinGeek Conference in Seoul back in October, the event brought together notable BSV investors and crypto VCs, assembled to hear pitches from a select band of startups in the BSV space. A number of firms at different stages of the development cycle were picked to pitch at the event, with Showpay one of the most notable present on the day.
Showpay is a payment system developed specifically and exclusively for BSV and BSV-powered tokens. Aimed at merchants, the system provides both the hardware and the software platforms required to process payments at the point of sale.
The Android native software, dubbed ShowpayOS, allows for transactions to be taken in BSV and BSV-powered tokens, with funds stored in a wallet or exchangeable for cash in the usual way.
The app was pitched by founder Sunny Fung, who said his goal was to make BSV global, daily cash—something he envisaged occurring over the next 10 years, as an increasing number of merchants and consumers turn to BSV for its convenience, flexibility and superior technology to other cryptocurrencies.
Fung said that as more merchants were responding to consumer demand and on-boarding crypto payments, Showpay would look to remain ahead of the trend by offering a comprehensive merchant solution for selling in bitcoin.
The pitch was well received, with Fung demonstrating how Showpay allows merchants to capitalize on the benefits of BSV payments.
Lower transaction fees, fast settlement time and greater convenience for consumers, as well as more effective cross-border payments, mean BSV already offers merchants an alternative to other digital payments.
With Showpay bridging the technical gap between merchants and the BSV blockchain, the hope is the platform can eventually support even smaller merchants in doing business in BSV.
Applications are now open for firms looking to pitch at the next Bitcoin Association Pitch Day in London at the CoinGeek Conference in February 2020.
Do you have a Bitcoin idea? Is it ready for the next step? We’re looking to invest in Bitcoin companies to bring them to the next level. Check out this series, Bitcoin Ventures, for some tips on how to pitch your project and secure financing.
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