2019 Fintech & Financing Conference and Expo: FEARLESS, April 3-4, Toronto Canada

FINTECH FRIDAY$ Podcast (EP.1-Jul 20): with Samir Bandali of CoinPayments

Share

NCFA Canada | Craig Asano | July 20, 2018

 

Fintech Fridays Podcast ep1-Jul 20:  Interview with Samir Bandali of CoinPayments

Host:  Manseeb Khan, NCFA

Guest:  Samir Bandali, Director of Strategic Partnerships, CoinPayments

To kickoff the first episode of our Fintech Fridays weekly podcast, our host Manseeb Khan is joined by Samir Bandli, Director of Strategic Partnerships of CoinPayments, to talk about the future of crypto from its role today and its role in the future.  CoinPayments offers merchants an option to accept cryptocurrency as a form of payment and currently works with over 700+ altcoins.

Join NCFA's weekly Podcast series 'FINTECH FRIDAY$' where we sit down with the incredible people in the Fintech community and talk about leading fintech products innovations developments and challenges!

Subscribe and tune in each Friday to check out the latest movers and shakers in fintech.

Listen to more Fintech Fridays podcasts here


Transcription of Interview

NCFA: Hey everyone Manseeb Khan and you are tuning into the NCFA Canada's newest podcast series called Fintech Fridays where we sit down with the incredible people in the Fin-tech community and talk about leading fintech products innovations developments and challenges. Today I'm here with Samir Bandali from CoinPayments. Samir thanks so much for being here.

CoinPayments:  Thanks for having me Manseeb, I'm very excited share what we do in the world.

NCFA: Yeah before I even started I did a lot of research.  Can you tell us what CoinPayments is about?  The problem is trying to solve, and I guess the achievements it’s trying to make?

CoinPayments:  Sure thing.  CoinPayments primarily a multi-currency online wallet allowing users to store and transact with crypto currencies and allowing merchants to accept those crypto currencies for goods services CoinPayments was established in about 2013. As the first alt coin payment processor in the world is in a time when most cryptocurrency companies were focused primarily on bitcoin and our founder and CEO Alex came up with this idea to create a company that's focused on all of the tokens that were available to the market. So CoinPayments solved the problem of utility tokens not having a real-world use case. And over the past five years we've grown into one of the largest. Cryptocurrency payment processors. In the whole world. Today we support over. 535. Different digital currencies. Aligned merchants and users to store hold and use these currencies in one stop. One log international online. At this time, we have one point five million vendors worldwide. We're really starting to see that cryptocurrency is making that next move. Into a mainstream merchant adoption. And real-world utility cases. CoinPayments prides ourselves on being a coin agnostic system. Where we really focus on being.

A support platform for the entire cryptocurrency industry. Yeah 2017 was a huge year for us. We. Experienced exponential growth. Process almost 1 billion dollars in transactions a crypto currency. Things are just picking up.  We created a plug in for Shopify recently. Fellow Canadian company there and we also have other plugins. WOOCommerce, OS commerce, Magento. Basically, every major e-commerce platform. In the world.

NCFA:  Okay. Damn that's incredible. I'm glad you guys are providing an amazing service, so my next question would be why should merchants consider offering a Crypto payment solution?

CoinPayments:  So, I think the big thing to remember here is cryptocurrency is still in the very early infancy stages. Even though bitcoin started out in 2011 we're still innovating technology every day and finding a way to maximize efficiency and really allow people to transact an international scale. So, I think what merchants have to realize when you select crypto currency as a payment option you're tapping into this entirely new market of people all around the world that are holding these coins and basically gaining this value off of this massive increase in markets and don't know what to do with or how to spend it. So if you're running a business and let's say you're making a million dollars in a year of sales realistically if you add cryptos to that maybe one or two percent well we'll start out in crypto so a majority of your business your operations will still be run with traditional fiat currency but you're just giving your users an additional option and tapping into new market so it's really just extra money and a little bit of fun because it gives you the option to speculate maybe hold on to some crypto and learn about where the future of fintech is going and inevitably one day this is going to be worth a lot more market share.

NCFA:  So how many wallets do you guys currently connect to?

CoinPayments:  So, as I mentioned before CoinPayments currently supports our 535 different currencies. Now a lot of those currencies are just a wallet solution for somewhere to store and for users to be able to send and receive with other like peer to peer.  Our merchant API connects to just about a hundred of those currencies. So those wallets basically enable merchants to accept any of the 100 currencies support with the API. And additionally, we have a really cool feature called Pay by name. And what that does is it allows a store or a person to set up a quick nickname we call it a cash tags sign let's say Samir for myself. That immediately opens up the gateway to access all the currencies that are available in a shopping cart.  So rather than providing a defense hash or wallet ID all you have to do is a dollar sign and CFA and someone can send you any of the currencies that we close for them.

NCFA:  Damn, I love the sound of that and that's awesome. So, what would be the hottest crypto currencies that you are currently seeing and like the type of volumes that you're seeing.

CoinPayments:  So I mean we were in a highly volatile market here so there's a flavor of the month… every day sometimes you know me recently we're part of the integration between Verge and Pornhub which were his largest porn site in the world to accept our Verge currency which is a privacy coin.  We've been trying to build relationships with different communities and very close with the decred community Token pay a couple couple coins that are focusing on merchant adoption but I think we're still in a BTC dominated world in my opinion the hottest cryptocurrency will always be bitcoin because it's the only one with the true liquidity at this point I guess.  And and I'd say 60 to 70 percent of our overall volume still comes in bitcoin even though we focus on all these markets so instead of us.

So how do you see Coinpayments play a role into like things like cannabis right because cannabis is just starting to get legal in Canada. It's been getting legal in a couple of states. There's definitely a being online merchants for cannabis like hemp products and all that so I guess how do you see crypto playing a role in that?  So that one's actually a little bit tricky.  The reason being both cannabis and cryptocurrency are very new emerging markets as far as regulatory jurisdiction.  And really how authorities are going to be looking at the legalities and how it all fits in and cannabis has been obviously illegal for a long time and even that I think yesterday the government passed that bill making it legal but it's still very much a gray area. A lot of people it's it's kind of like a stigma around it. The crypocurrency is very much the same way basically your regulatory authorities haven't found a clear path as to how they want to treat cryptocurrency whether it's a currency or commodity security whatever you want to call it. So, I mean the big thing with cannabis becoming legal is tax right? and government is going to make access of this a big problem with cops right now as direction as to how taxes and cryptocurrency relate. So, I think it's probably going to be a little bit of time before we really see a true marriage between cryptocurrency and cannabis although it is inevitable down the line. I think both markets need to find clear direction and a clear path to regulatory authority before we can really merge them because at this time if you're taking one gray area into another gray area and just gets a lot darker gray. Yeah yeah.

NCFA:  Very, very true as we heard the CoinPayments is currently running a airdrop campaign. You talk a little bit more about that?

CoinPayments:  For sure.  So, as I said that we've been around for about five years now and we have 1.5 million users worldwide and a lot of merchants who've been with us from the start and stop with us over the times as we develop all these new exciting features like pay by name and a few that I can't even name right now but are rolling out in the next few months here.  We decided it will be a cool opportunity to give a little bit back to our customers who've been loyal to us for a long time and at the same time create some sort of incentive to be able to compete with all these new emerging companies trying to do the same thing that we're doing. So, we decided to do an airdrop to create our own basically native platform token and it will allow all of our users to save 50 percent on transaction fees and conversion fees. Wow. I'm transacting with that coin as well as upcoming allocations and ICOs that are using CoinPayments as the payment gateway for the platform. So, our users will now be able to participate in these projects using the CPS coin that we're dropping the airdrop is officially happening on July 1st. So, there's still time if anybody wants to get involved. You can check out more information at W W W dot CoinPayments coin dot com or just sign up for an account add. WWW.Coinpayments.net. And. You're eligible for free tokens right off the bat. Giving 100 free coins each user. Which equates to about twelve dollars in value.

NCFA:  So, I guess what are future opportunities that you guys are seeing a CoinPayments like can you give me like a rough roadmap and I guess some of the challenges ahead.

CoinPayments:  I know you definitely thought of it like there's some tokens you can't talk about yet although I do have a couple of things I can release to the public so I find it kind of a natural evolution in our company to start to morph towards. Not only just a wallet provider and a payment processor but it's also kind of build out an exchange and allow users to really have a one stop shop to use crypto currency in any way that they want. So are our long-term plan here is to be able to basically create an environment that allows users to converge freely between the coins that we host on our system as much as you want on a regular exchange. And also following that would be. To allow merchants. And easy fiat. Settlements option or even users an easy fiat on-boarding. So, for CoinPayments Is to truly be that place where. You can log into the site. Deposit. Some money buy some crypto. Change or for whatever other crypto you want to use. Use that crypto in the real world to buy tangible products and services and potentially cash that back out to your bank account if you're if you're wanting to do that. So, we're really working towards becoming full service one stop shop. And I think over the next three or four months we're going to roll out some features that are going to surprise a lot of people and really make us competitive with the large players in this industry like the Coinbases. What would be your top two to three golden nuggets when it comes fintech and investors and FinTech founders that are trying to build something with in Canada.

I am a huge advocate on education right now.  I believe the next big jump for crypto to really start to make a dent in FinTech is truly educating people on what's cryptocurrency as how to use cryptocurrency. Like I've been involved in this space for a few years now and I can still say that well over 90 percent of my friends don't even understand what bitcoin is or the fact that you can divide a bitcoin into 100 million pieces or you can actually buy a car or a watch or a T-shirt with that question on the Internet right now. People are still in this weird phase where you're seeing mainstream media outlets extremely uneducated sharing useless facts with people and guys like Rebel CEO being like we're going to be bigger than Bitcoin.  There's all this weird fud in the market and I just think that the big thing for all of us and a responsibility we have by being in this industry is to educate people and walk them through how they can be a part of this emerging cryptocurrency phenomenon.

NCFA:  Yeah now that makes sense because if we want everybody to use it helps that everybody knows how to use it and when to use and where to use right and that comes with like all working together like I think the overall market share of crypto towards money is like zero point one percent on a global scale.

CoinPayments:  Now as we grow there is enough room for everyone and it's definitely going to be about working together building communities. And you see that a lot of crypto each of these different projects have very active communities. People who are involved in the early days are engaged and they want to learn, and they want to spread that learning and education everybody so in any couple of years coming up a bench.

NCFA:  Yeah, I think so too because like from what I'm taking away your I guess your golden nugget would be just like make sure you not only share within the community that you've built around your company but share within the complete world still community in general right. So as long as everybody kind of knows what to expect or they get they get everyone get kind of navigate within the huge crypto ship together. Right. Definitely. Awesome. Okay cool. So, wrapping up would be the best way to contact you if anybody has any questions. Would it be through Twitter, do I WhatsApp, do I Snapchat you how I would be the best way to contact you.

CoinPayments:  think that I have a couple different forms of communication with the community. But the best way I get in touch with us is either through Twitter on which our handle is @Coinpayments.net. Through my email directly. PR@coinpayments.net. I'm always open for any sort of opportunities and collaboration to find synergy with other companies that have similar interests.

NCFA:  Thank you so much for sitting down with me today. I mean like I'm super excited, everything that company is about to do. Becoming a full service one stop shop that should be really exciting. And yeah, I can't wait to buy socks with bitcoin that would be really awesome. That's like I'm really excited for. Oh my gosh.

CoinPayments:  We've had about 300 Shopify stores sign up in the last two months since we went live with that integration. And I can tell you right I thought my I'd like at least a dozen stores where you can buy stocks right now.  Actually, it runs www.alwayshodl.com.  Oh good He's got some real cool crypto on merchandise and allows you to buy crypto   swag with the type of crypto that it's representing. So pretty good.

NCFA:  That's really it that's a really cool concept. All right well Samir thanks so much for sitting down with me. This has been super enlightening, super educational and best of luck on everything. All right thanks alot man.

CoinPayments:  All right thanks alot man.

End of Podcast

 


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org

Click for News:

 

US News | By Ben Luthi | Apr 12, 2019 Apple Pay is secure and convenient, as long as you use it correctly. No payment method is entirely safe from fraud. But Apple Pay provides cardholders with several layers of security that can protect against some common forms of credit card theft. If you want to try Apple Pay, knowing how it works is important as well as how your credit card information is safeguarded and what you can do to stay protected while using it. What Is Apple Pay? Apple Pay is a mobile wallet for Apple devices such as iPhones and Apple Watches that allows you to make purchases in stores, in apps and online securely without handing over your credit card information every time. See:  The growing cost of cybersecurity In a store, the mobile wallet uses near-field communication technology – it allows two devices placed within a few centimeters of each other to exchange data – to transmit your card information. You just need to verify your identity with the Touch ID or Face ID feature, then tap your device to the store's card reader to process the payment. To keep your information private, Apple Pay ...
Read More
Is Apple Pay Safe?
NCFA | Team FFCON19 | April 16, 2019 5th annual Fintech and Financing Conference in Toronto addressed challenges and successes of entrepreneurs and innovators transforming the financial industry TORONTO, ON / ACCESSWIRE / April 16, 2019 / The National Crowdfunding & Fintech Association (NCFA), the non-profit cross-body organization that promotes and supports fintech and funding throughout Canada, closed its 5th annual flagship Fintech and Financing Conference - FFCON - which featured numerous fintech market leaders, as well as industry experts, government officials, and prominent tech investors. "FEARLESS" was the theme for this year's conference, celebrating the boldness and innovative nature of the FinTech industry, where entrepreneurs constantly challenge pre-existing financial systems with innovative new products and services. The conference brought together more than 500 attendees who experienced keynote speeches, immersive learning, workshops, startup pitch presentations and awards, an exhibitor floor, and networking receptions. Key themes explored at FFCON19: FEARLESS: RISK is a conscious choice and necessary to innovate; Digital trust and security are essential for mass adoption; The digital bank and future of fintech is already here; Collaboration and new social (decentralized) models can revitalize markets controlled by incumbents with too much power and no incentive to change; Private-public market ...
Read More
NCFA 2019 Conference Closes with Renewed Focus on Fostering Innovation in Fintech
Business Insider | Dennis Green | March 25, 2019 Stores that do not accept cash are on the rise, from quick-service lunch spots to Amazon's Go stores. Not accepting cash can speed up lines and make life easier for card-carrying consumers. But a backlash has grown, as the cashless trend leaves out lower-income customers who may not have a bank account. Massachusetts, Philadelphia, and New Jersey have already barred stores from rejecting cash as payment, and New York City and San Francisco are considering similar measures. This could affect the growth of Amazon's physical stores, which do not accept cash. Cashless stores are becoming controversial. See:  Under pressure Amazon plans to accept cash at cashless Go stores Bank Customers Are Primed And Ready For Amazon Stores that do not accept cash are on the rise, from quick-service lunch spots to Amazon's physical stores. Not accepting cash can speed up lines or eliminate them altogether, making life easier for card-carrying consumers. Not everybody is on board with this cashless utopia, however. Backlash has started, as the cashless trend leaves out lower-income customers who may not have a bank account. As of last year, an estimated 15.6 million people in the US ...
Read More
Cities and states around the country are banning stores from refusing to accept cash, and it's a troubling trend for Amazon
Public Policy Forum | Robert Asselin and Sean Speer | April 4, 2019 Rise of the intangibles When New England Patriots quarterback Tom Brady played in his first Super Bowl in 2002, there was no iTunes store, no Facebook, no Instagram, no Airbnb, no Gmail and no Skype. Today the companies who own these intangible assets are worth more than $4 trillion. The rise of the intangibles economy will have sweeping policy implications that will become clearer over time. Nobody knows for sure where this is heading. Our overriding objective in this paper is to help catalyze a bi-partisan policy discussion about a new “north star” for Canada’s economic competitiveness and the types of policy reforms needed to start us on this path. As part of this process, we set out a series of policy recommendations that cover the classic drivers of competitiveness such as taxation and regulation and drivers for the intangibles economy such as data governance, intellectual property retention, and the race for talent. But as important as these prescriptions are, the main takeaway for policymakers and the Canadian public is that the rise of the intangibles economy requires that we test old assumptions and are open to ...
Read More
[Report] A New North Star:  Canadian Competitiveness in an Intangibles Economy
NCFA Canada | April 12, 2019 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Ep30-Apr 12:  The Future of Canadian Crypto With Andrei Poliakov About this episode:  On this episode of the Fintech Fridays Podcast, our Host Manseeb Khan sat down with Andrei Poliakov the CEO of Coinberry. They chatted about the future of Coinberry, the power of blockchain and his favorite failure.  Enjoy! HOST: Manseeb Khan, Fintech Friday's show host GUEST:  ANDREI POLIAKOV, CEO and Co-Founder, Coinberry (Linkedin) BIO:  Andrei is a seasoned entrepreneur having previously launched and managed various start-ups with a strong focus on implementation and early-stage strategy development. Having finished the University of Toronto with a bachelor in Electrical Engineering, Andrei worked in Business Consulting before completing his IMBA at York University, Schulich School of Business. Andrei brings to Coinberry +10 years of algorithm design, management and strategy development experience in various corporate settings with leading multinationals around the world. Subscribe and tune in each Friday to check out the latest movers and shakers in fintech. Listen to more podcasts here: Season 1 | Season 2 Transcription of Interview Intro: Welcome fintech Friday's a weekly podcast brought to you by the National Crowdfunding and Fintech Association of ...
Read More
Ep30-Apr 12:  The Future of Canadian Crypto With Andrei Poliakov
SEC | April 3, 2019 Bill Hinman, Director of Division of Corporation Finance Valerie Szczepanik, Senior Advisor for Digital Assets and Innovation Blockchain and distributed ledger technology can catalyze a wide range of innovation.  We have seen these technologies used to create financial instruments, sometimes in the form of tokens or coins that can provide investment opportunities like those offered through more traditional forms of securities.  Depending on the nature of the digital asset, including what rights it purports to convey and how it is offered and sold, it may fall within the definition of a security under the U.S. federal securities laws. As part of a continuing effort to assist those seeking to comply with the U.S. federal securities laws, FinHub is publishing a framework for analyzing whether a digital asset is offered and sold as an investment contract, and, therefore, is a security.  The framework is not intended to be an exhaustive overview of the law, but rather, an analytical tool to help market participants assess whether the federal securities laws apply to the offer, sale, or resale of a particular digital asset.  Also, the Division of Corporation Finance is issuing a response to a no-action request, indicating that ...
Read More
Statement on “Framework for ‘Investment Contract’ Analysis of Digital Assets”
TechDaily | Stefan Palios  | April 8, 2019 To be fearless, you have to set up the right conditions and environment. Taking this perspective to heart, #FFCON19, a conference put on by the National Crowdfunding & Fintech Association, pondered how to create the right conditions so entrepreneurs can be fearless in their work. From conversations about AI creating fake videos to open banking, the wide-ranging conference detailed that fearlessness comes from using the right tech at the right time, desiring a positive outcome more than wanting to avoid a negative outcome, and putting the right regulations in place. Deep fakes and identifying what’s real Kicking off the conference, entrepreneur Toufi Saliba brought the idea of ‘deep fake’ to the conversation, the premise that artificial intelligence technology can make videos appear to be of certain people. See:  The growing cost of cybersecurity “Deep fake enables everyone with a computer to download software to enable you to put someone speaking in a video, saying something they did not actually say,” Saliba explained. While innocently used in gag videos, the negative side is much more concerning. With this technology, said Saliba, hackers and other malicious actors can declare war, pretending to be a ...
Read More
#FFCON19 talked about how to build trust in the 21st century
Crowdfund Insider | JD Alois | Apr 4, 2019 Canada may be a smaller market but it has a robust, highly sophisticated economy and a vibrant Fintech sector. Toronto, the financial center of the country, is home to dozens of Fintechs including payment firms, online lending, AI, wealth management, blockchain and more. Yet while there are promising indications of financial innovation and a good number risk-taking Fintech entrepreneurs, a recent Canadian report noted a “need for a clear Fintech strategy by the federal and provincial governments with the intent of supporting innovation and growth for the Canadian financial services sector.” Like most other industries, competition in financial services is intense. As it is a highly regulated sector of industry, participants must continuously manage compliance demands while interacting with diverse public officials and regulatory requirements. These same rules, if duplicative or misaligned, can act as a barrier to positive innovation and change that challenges established firms and entrenched orthodoxies. The emergence of Fintech and the digitization of financial services, from banking and beyond, has seen multiple Fintech centers of prominence emerge. The UK has long been known for its Fintech friendly regulatory environment. Regulators frequently engage with emerging new business models ...
Read More
Canada’s Regulatory System for Fintech is Complex, Costly and Chaotic. It is Stifling Fintech Innovation
LAST CHANCE FOR TICKETSApril 3 SOLD OUTApril 4 last block of tickets >90%#FFCON19 “Motivation is the catalyzing ingredient for every successful innovation. The same is true for learning.”  Clayton Christensen FFCON19 is here and officially kicks off tomorrow!  Congrats on the 9 pitching finalists announced Some more speakers added! Brady Fletcher, Managing Director and Head of TSX Venture Exchange Jon Medved, CEO, OurCrowd Fred Pye, CEO, 3iQ Corp Neha Khera, Partner, 500 Startups Alixe Cormick, President, Venture Law Corporation Sandi Gilbert, CEO, InterGen and Chair of NACO David Lucatch, Chairman, Pegasus RJ Reiser, Chief Growth Officer, Polymath Keren, Moynihan, Co-Founder, Boss Insights Check out all 50+ speakers here Please meet FFCON’s Incredible Master of Ceremonies April 3:  Chantel Costa    April 4:  Amy ter Haar Look who’s coming to #FFCON19?  JOIN US!   THANKS TO OUR AWESOME FFCON19 PARTNERS!   HOST: PLATINUM: GOLD PARTNERS: SILVER PARTNERS: ...
Read More
Look Who's Coming to FFCON19!  Last Chance to get Tickets
NCFA | Team FFCON19 | March 31, 2019Nine high-growth companies have been selected from inbound applications to pitch live at the 5th annual Fintech and Financing Conference: FEARLESS (#FFCON19).These companies will be pitching in three sessions on April 4, to be led by pitch session partner hosts McCarthy Tétrault,  Toronto Starts.and the PCMA.Congratulations to the 9 finalists!BalanceBooknBrunchConsilium CryptoFeedbackFintrosHedgieOwl LabsneedlsVacation FundOne winning company will be selected for the inaugural People's Choice Award, which celebrates an up and coming startup that is the most innovative and most impactful, as determined by the pitch session judges and the crowd.The Conference, to be held from April 3-4, 2019, attracts fintech, blockchain and AI innovators, investors, companies actively raising capital and key decision makers/stakeholders in technology and capital markets from all over Canada and around the world. Click here to view the full program.   The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders ...
Read More
Live Pitching Finalists Announced for FFCON19: FEARLESS

 

Share