iWallStreetPro had the opportunity to speak with Mr. Wolfgang Ruecker, CEO of GH Capital (GHHC), about the future of FinTech and how he sees GH Capital playing a part in shaping this future.
IWSP: We want to thank you for taking the time with us today.
W.Ruecker: Thanks for inviting me.
IWSP: It’s obvious from the recent press release that GH Capital’s FinTech subsidiary, ClickDirectPay (CDP), is exploring the use of blockchain technology for the next generation credit card payments. What drove this move?
W.Ruecker: CDP is looking to expand globally. CDP is currently available in Europe and requires a business to have a European bank account to accept CDP payments. This is also the case for users making payments on the CDP network. While the European market has vast potential, we would also be limiting our growth possibilities with our existing platform. We have been seeking a solution and to provide online payment processing solution to our merchants and customers on a global scale. To meet this goal we are actively exploring the concept of blockchain and cryptocurrency processing.
IWSP: How do you see the future of online payment industry and specially cryptocurrencies, such as Bitcoin?
W.Ruecker: Whether few people like it or not, Bitcoin is established. It’s here and the shift in payment choice has already started, especially with our target audience (so called high risk merchants from the adult industry, as an example) who are heavily considering alternative payment methods. The availability and exchange platforms of cryptocurrencies are growing at a fast pace. The ease of doing transactions and low cost process involved are what we think will be the driving factors of cryptocurrency growth. Lots of friction is involved with traditional payment systems even after decades of involvement because of their structural boundaries, which is not the case with blockchain. Blockchain has the capability to become frictionless as it becomes popular. Friction in the sense, things involved in the process, costs and privacy of the transaction. Even now, certain types of transactions can be done with little friction using cryptocurrencies. People are looking for alternative payment systems giving rise to the next generation of payment solutions (cryptocurrencies).
IWSP: What might that mean for GH Capital Inc., which is publicly traded under the trading symbol GHHC, when it comes to upcoming growth and revenue?
W.Ruecker: We aim to make CDP a one stop solution for online merchants worldwide to accept cryptocurrencies in real time with a hassle free process. We truly believe that this solution and strategy will generate significant revenue for GHHC in the next few years. We are planning to provide our processing platform globally as this market begins to mature out of its infancy stage. If you take a look at the current Blockchain market and all ICOs, I think 2017 is only an appetizer compared to what we will see in 2018.
IWSP: How do you see your competitors such as Square (SQ) or PayPal (PYPL)?
W.Ruecker: We never follow or look into competitors. They have to look to us, I guess!!”
IWSP: Thank you so much for that interesting interview and sharing your thoughts with us.
W.Ruecker: Thanks for inviting me to iWallStreetPro. Thank you very much.”
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