October 28, 2014
SnapCard, an online startup, provides a multi-currency, digital currency wallet to buy, store, send and receive digital currencies
Using SnapCard, users can avoid unnecessary logins on retailers’ websites. It offers a unique bookmarklet system through which users can gain information on products and further add them to SnapCard’s integrated shopping cart. In a certain way, SnapCard acts as a payment processor enabling users to checkout from their shopping carts and use linked virtual currency wallets or even traditional payment options.
Here is an illustration citing how SnapCard works:
SnapCard charges quite a low processing fee of 0.5% on per transaction basis. It also provides additional e-commerce oriented services like shipment tracking and order processing. It currently supports the top 4 digital currencies – Bitcoin, Litecoin, Dogecoin and Ripple. It currently offers a dedicated mobile-POS app and APIs as well for online integration. It works well with prominent retailers like Target, Best Buy, New Egg, Amazon and Walmart.
For merchants, SnapCard currently offers the following as part of a package deal:
The wallet service first came out of its beta back in November 2013. By the end of 2013, it had reached 1000 users and had completed transactions worth more than $10,000. The company recently ran a major campaign in San Francisco offering its services to 500 businesses. SnapCard recently raised $1.5 million in a seed round.