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In the past, when someone made an online purchase, there were limited ways to process the transaction. Most buyers have used PayPal or their credit card for online purchases, but those have major restrictions. The good news is that, as online sales continue to grow, so does the booming industry of alternative payment solutions, such as BitCoin, iMoney, Amazon Payments, Google Checkout and more. Continue reading
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prREACH
Sep 23, 2013 /prREACH/ --
Cydec Software’s new e-Commerce platform first to integrate with these global solutions
- In the past, when someone made an online purchase, there were limited ways to process the transaction. Most buyers have used PayPal or their credit card for online purchases, but those have major restrictions. PayPal, for example, restricts buyers and sellers from over 60 countries worldwide, which limits the potential marketplace for sellers and limits ordering access to digital or physical goods in these countries.
- Credit card companies have similar restrictions. Some are blocked for political reasons, some because of higher fraud rates, and some for other financial reasons. The result is that people and businesses from different countries have diminished access to the online marketplace because of payment issues they can’t control.
- The good news is that, as online sales continue to grow, so does the booming industry of alternative payment solutions, such as BitCoin, iMoney, Amazon Payments, Google Checkout and more. Bitcoin, for example, is a growing leader in the global virtual currency space and is popping up all over the world as an accepted method of payment. Bitcoin, invented in 2009 as the first peer-to-peer digital currency, uses bitcoins to send money -- to anyone, anytime, anywhere -- without going through a bank, government or corporate entity. Bitcoin has become the most popular peer-to-peer digital currency, with rapid growth in recent years some have speculated it could fuel the end of the Euro and even caused Apple to create its own variety iMoney.
- As a result of the growing alternative payment industry, forward looking investors looking to cash in on the next disruptive technologies have been making investments in Bitcoin related companies. For example, Founders Round whose members have been early investors in numerous well-known companies such as Facebook, PayPal, and Napster. Another example is the investment by Matt Mullenweg, founder of WordPress, into BitPay which is the emerging market leader in Bitcoin businesses solutions.
- The business automation and email marketing market is also heating up. Big investment houses are starting to invest in this space, realizing its huge potential to empower website owners and small business owners online. This is evident in the recent $54M Series C investment by Goldman Sachs into InfusionSoft earlier this year.
- The latest breakthrough is the integration of these two emerging markets. Cydec Software, based in Boca Raton, Florida is one of the first integrated SaaS/hosted eCommerce platforms for the BitPay global virtual currency gateway, making Bitcoin easy and accessible to everyone as a payment source. Cydec is an established eCommerce platform similar to InfusionSoft, but that offers alternate payment solutions such as BitPay, Amazon Payments, Google Checkout as well as traditional sources such as credit cards and PayPal.
- Due to their unique positioning in the marketplace, Cydec is attracting the attention of early-stage investors. President and CEO of Cydec, Brett Fogle, has stated that they will be opening it up for investment in the near future with both a seed and Series A round planned by the end of the year. “With the advent of new technology and new payment solutions, eCommerce is finally becoming a global marketplace for buyers and sellers around the world. Cydec is committed to helping small business owners and website owners succeed by providing simple yet powerful sales and email marketing solutions.”
- Contact Brett Fogle for more information at 561-715-7302 or [email protected].