June 19, 2017
First Bitcoin Capital Corp., a developer of digital currencies and blockchain technology, has teamed with Simple Automated Money Inc., a provider of automated check cashing kiosks, to provide automated check-cashing kiosks at locations in northern California, according to a press release. SAMCO’s web-enabled, automated check-cashing kiosks merge check cashing capabilities to provide unbanked consumers with a fast and confidential check-cashing experience.
Customers insert an ID card and check and validate their identity through fingerprint technology. The kiosk verifies customer identity, performs an online check authorization and issues an approval or decline back to the consumer before dispensing cash.
BITCF has also ordered SAM kiosks to integrate a bitcoin ATM into self-service check cashing kiosks and is testing customer acceptance with three units in northern California. The company anticipates beginning a national rollout later in 2017. During the pilot, BITCF will offer discounted check-cashing services and will promote the new service through online advertising, in-store signs and special events.
BITCF also announced it will integrate bitcoin buy/sell capabilities throughout a nationwide network of 85 existing SAMCO kiosks. The company will integrate bitcoin ATM transactions, money orders and transfers as well as check cashing through touchscreen, biometric secure access.
BITCF is an exclusive distributor of SAMCO check-cashing kiosks in California for the medical cannabis dispensaries and is expanding to include other locations, such as convenience stores and supermarkets. BITCF will allow consumers to cash any type of check: government-issued, payroll, business and others.