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CoverStory
established in 2009 that facilitates digital financial type of exchange. This led to TouchSuite's introduction of
transactions worldwide at no cost. TouchSuite Gift Card Exchange in March 2015. It enables
merchants using TouchSuite's Lightning Payments POS
As an independent ATM operator and distributor, Klamka systems to accept gift cards from 100 big-box retailers as
placed General Bytes Bitcoin ATMs in several states, a payment for goods and services in their stores.
number of which are in the New York metropolitan area.
The small footprint device is manufactured in Prague, "We have three components to our strategy: increase
Czech Republic, and is similar to other vending machines, customers' foot traffic, transact efficiently by enabling gift
but it dispenses bitcoin instead of cash. card redemption while eliminating friction, and increase
wallet share by getting more customers into your store
Klamka's bet paid off. Merchants with his ATMs installed and getting them to spend more," Tafazzoli said.
have seen customers, many of whom are millennials,
come in to buy bitcoin, then use bitcoins for impulse Taimour Zaman, One Million Acts of Education
purchases. "There's a huge gap between bitcoin users
and other consumer groups, but the movement is gaining One Million Acts of Innovation launched One Million
momentum, mainly by word of mouth," he said. "More Acts of Education, part of a series of targeted, vertically
locations are asking for the machines than are currently focused initiatives conceived to "create, record and count
available." one million acts of innovation" across multiple business
segments. Various curricula share a core of team leaders
Bryan Sory, Qwyvr LLC who strive to inspire participants to "think differently and
innovate collaboratively to create a better future."
The 2005 class action suit against Visa Inc. and MasterCard
Worldwide by big-box retailers, the 2010 Dodd-Frank Zaman said the organization is results-driven with
Act and a scourge of ongoing, high-profile data security "no time for think tank rhetoric." Instructors, who are
breaches have created an ideal climate for emerging vetted as leaders in their respective areas of expertise,
schemes to unseat incumbent payment methods. These provide individuals and organizations with conceptual
defining events have amplified the need for simple, secure frameworks and resources designed to help them
and competitively priced payment systems. align digital transformation projects with their unique
organizational cultures.
Qwyvr LLC co-founders Bryan Sory and David Whitmer
noted a high percentage of chargeback fraud and designed Programs ranging from hours to days to weeks explore
a payment system to eliminate chargebacks. "Our desire innovation's five challenges and ways for individuals and
was to build a payments system on which payments are teams to spark cultural transformation. A "digital gap
final and irreversible, at once solving the merchant's cash analysis" provides a snapshot of where participants are
flow dilemma while delivering end-user convenience," now compared to where they want to go.
Sory said.
Common challenges, different strokes
The Qwyvr network uses an analytics-driven advertising Innovators solve problems and create meaningful change.
model that rewards users for loyalty. The system is free While they face similar challenges, no use cases are
to peer-to-peer users; merchants pay a flat transaction completely alike. Here are two questions with answers
fee. The cloud-based, closed-loop system leverages facial from five distinct playbooks:
recognition technology and Square POS software. When
paired with beacon technology, merchants' tablet screens GS: Was the difficulty of changing traditional behavior
can identify users who can approve cash-like transactions a consideration when you were developing your initial
with one click. The system is in pilot in the Atlanta area. concept and prototype?
Farshad Tafazzoli, TouchSuite Ryder Kessler: "Ultimately, we see DipJar as only a
minor behavioral change: take the payment mechanism
The National Retail Federation 2014 Gift Card Spending you have in your pocket, a credit card, and use it for
Survey found that gift cards have been the most requested something you've done forever with cash, like dropping
gift item in the United States for eight consecutive years, a dollar in a tip jar."
and buyers spend an average of $48 per gift card. Gift card
recipients can convert unwanted gift cards at gift card Peter Klamka: "Bitcoin ATMs are following a similar
exchanges and kiosks, but a large number don't use these adoption cycle to traditional ATMs. Twenty-year-
exchanges. olds are using bitcoins. It may take longer for older
generations to embrace the technology. We offer
When perusing online gift card exchanges one day, Farshad merchants a 60 day trial so they can try it without
Tafazzoli, Chief Product Officer at ISO and technology making a long-term commitment."
provider TouchSuite, came up with an idea for a new
40
established in 2009 that facilitates digital financial type of exchange. This led to TouchSuite's introduction of
transactions worldwide at no cost. TouchSuite Gift Card Exchange in March 2015. It enables
merchants using TouchSuite's Lightning Payments POS
As an independent ATM operator and distributor, Klamka systems to accept gift cards from 100 big-box retailers as
placed General Bytes Bitcoin ATMs in several states, a payment for goods and services in their stores.
number of which are in the New York metropolitan area.
The small footprint device is manufactured in Prague, "We have three components to our strategy: increase
Czech Republic, and is similar to other vending machines, customers' foot traffic, transact efficiently by enabling gift
but it dispenses bitcoin instead of cash. card redemption while eliminating friction, and increase
wallet share by getting more customers into your store
Klamka's bet paid off. Merchants with his ATMs installed and getting them to spend more," Tafazzoli said.
have seen customers, many of whom are millennials,
come in to buy bitcoin, then use bitcoins for impulse Taimour Zaman, One Million Acts of Education
purchases. "There's a huge gap between bitcoin users
and other consumer groups, but the movement is gaining One Million Acts of Innovation launched One Million
momentum, mainly by word of mouth," he said. "More Acts of Education, part of a series of targeted, vertically
locations are asking for the machines than are currently focused initiatives conceived to "create, record and count
available." one million acts of innovation" across multiple business
segments. Various curricula share a core of team leaders
Bryan Sory, Qwyvr LLC who strive to inspire participants to "think differently and
innovate collaboratively to create a better future."
The 2005 class action suit against Visa Inc. and MasterCard
Worldwide by big-box retailers, the 2010 Dodd-Frank Zaman said the organization is results-driven with
Act and a scourge of ongoing, high-profile data security "no time for think tank rhetoric." Instructors, who are
breaches have created an ideal climate for emerging vetted as leaders in their respective areas of expertise,
schemes to unseat incumbent payment methods. These provide individuals and organizations with conceptual
defining events have amplified the need for simple, secure frameworks and resources designed to help them
and competitively priced payment systems. align digital transformation projects with their unique
organizational cultures.
Qwyvr LLC co-founders Bryan Sory and David Whitmer
noted a high percentage of chargeback fraud and designed Programs ranging from hours to days to weeks explore
a payment system to eliminate chargebacks. "Our desire innovation's five challenges and ways for individuals and
was to build a payments system on which payments are teams to spark cultural transformation. A "digital gap
final and irreversible, at once solving the merchant's cash analysis" provides a snapshot of where participants are
flow dilemma while delivering end-user convenience," now compared to where they want to go.
Sory said.
Common challenges, different strokes
The Qwyvr network uses an analytics-driven advertising Innovators solve problems and create meaningful change.
model that rewards users for loyalty. The system is free While they face similar challenges, no use cases are
to peer-to-peer users; merchants pay a flat transaction completely alike. Here are two questions with answers
fee. The cloud-based, closed-loop system leverages facial from five distinct playbooks:
recognition technology and Square POS software. When
paired with beacon technology, merchants' tablet screens GS: Was the difficulty of changing traditional behavior
can identify users who can approve cash-like transactions a consideration when you were developing your initial
with one click. The system is in pilot in the Atlanta area. concept and prototype?
Farshad Tafazzoli, TouchSuite Ryder Kessler: "Ultimately, we see DipJar as only a
minor behavioral change: take the payment mechanism
The National Retail Federation 2014 Gift Card Spending you have in your pocket, a credit card, and use it for
Survey found that gift cards have been the most requested something you've done forever with cash, like dropping
gift item in the United States for eight consecutive years, a dollar in a tip jar."
and buyers spend an average of $48 per gift card. Gift card
recipients can convert unwanted gift cards at gift card Peter Klamka: "Bitcoin ATMs are following a similar
exchanges and kiosks, but a large number don't use these adoption cycle to traditional ATMs. Twenty-year-
exchanges. olds are using bitcoins. It may take longer for older
generations to embrace the technology. We offer
When perusing online gift card exchanges one day, Farshad merchants a 60 day trial so they can try it without
Tafazzoli, Chief Product Officer at ISO and technology making a long-term commitment."
provider TouchSuite, came up with an idea for a new
40
