Investee Company Update

RNS Number : 7128N

FastForward Innovations Limited

02 February 2016

 

2 February 2016

FastForward Innovations Limited

("FastForward" or the "Company")

Investee company update

SatoshiPay Launches Login-free Paywall

The Board of FastForward is pleased to announce that SatoshiPay Ltd ("SatoshiPay"), in which FastForward has a 10 per cent. interest, today announced the launch of a platform for web publishers offering a new way to monetise content through frictionless micropayments. SatoshiPay's payment technology allows users to transact amounts as small as €0.01 or less, which SatoshiPay refers to as "nanopayments", by leveraging blockchain technology.

Further details regarding SatoshiPay are available at its website www.satoshipay.io 

Commenting on the launch of the nanopayments platform, Lorne Abony, FastForward's recently appointed CEO said:

"This announcement by SatoshiPay represents a major step in that Company's path towards the commercialisation of its disruptive technology. As investors we are excited by the prospect of its long term value creation"

A copy of the announcement issued by SatoshiPay is reproduced below:

SatoshiPay press release

"Nanopayments

"Nanopayments can be fractions of a cent. They are instantly settled and can be executed at high frequency. Imagine a couple of payments per second by a single user," SatoshiPay's Founder and CEO Meinhard Benn explains. "This enables completely new ways of monetising web content and digital goods in general. In an increasingly digital society, nanopayments allow for new business models that existing payment technology cannot facilitate due to its fee structure and trust models," he adds.

Ease of use

For the reader, SatoshiPay removes friction usually associated with paying for online content. There is no sign-up, no login and the user does not need to install any additional software to get started. Payments are done with one click or tap and the user can also choose to pay for content completely automatically. After topping up, the available balance is displayed in SatoshiPay's floating web widget at the bottom of the publisher's website. The user's balance is shared across all websites that integrate with the SatoshiPay widget, eliminating the need for the user to maintain multiple payment accounts.

"It is commonly accepted that payment processes on the web are not fun. When paying for digital content, additionally the pricing appears a bit off, especially considering the low distribution costs involved. We want to change this, we want to make web payments fun and fair", says Benn. "Micropayments in computer games work extremely well. We looked at games, learned a lot and incorporated the findings into our product."

Ad blocking

SatoshiPay helps publishers to address the increasing number of readers that use an ad blocking software to remove all advertising from a website. While big publishers react to ad blocking by refusing to show their content and urging the user to deactivate their ad blocker, SatoshiPay gives publishers the possibility to charge a small fee for viewing the article.

Benn says: "Users send a clear message by installing an ad blocker: They don't want to see ads on websites. Locking them out of your site as a response is sending the wrong signal. Charge them a few cents or pennies and they will understand."

"We want to help transform users from involuntarily being a website's product to being its consenting customer. That's why we built this product."

WordPress plugin

At launch, SatoshiPay offers an extension for WordPress, the popular publishing software which is installed on 25% of all websites on the internet. Using SatoshiPay's free WordPress extension, publishers can get started within minutes and test if their audience is willing to pay for their content, without a major technology investment.

Payment methods

The first available payment method for readers is the digital currency Bitcoin, with other methods such as card payments and instant bank transfers being added soon."

For further information, please visit www.fstfwd.co   or    www.satoshipay.io,     or contact:

FastForward Innovations Limited Tel: [phone] Elysium Fund Management Limited

Beaumont Cornish Limited (Nomad) Tel: [phone] James Biddle / Michael Cornish

Peterhouse Corporate Finance Limited (Broker) Tel: [phone] Guy Miller / Lucy Williams

 

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