The company has spent months carefully and quietly planning to take the app public, running the payment and merchant services app through testing with a security firm and holding Q&As in order to perfect their software and get everything right before debuting to the world.
The free conference runs on January 24–25, 2015 at the Central Foundation Boys’ School on Cowper Street in London. Founder and CEO Danial Daychopan calls London “a great place for bitcoin businesses and entrepreneurs.”
Daychopan will begin his discussion at the conference on the importance of security, in order to stress that this is the number one focus for both their exchange and their app, and to guarantee “rock solid security” to their users.
LazyCoins announced the beta version of their new exchange six months ago in July, but they chose not to go public right away in order to learn from and avoid the mistakes of other exchanges. They launch in direct competition with similar-service industry leaders BitPay and Coinbase.
The goal with the LazyPay app is to make Bitcoin use a part of everyday life, increasing its volume of use in the in-person merchant market, getting more people to use digital currencies as a form of payment, rather than just as a speculative investment tool.
Their secure mobile wallet and an user-friendly merchant app aim to make doing business in digital currencies simple and as safe as possible for both merchants and customers. The aim is to “to make buying and selling goods as easy with bitcoin as it is with cash and credit cards—only faster, safer and more convenient.”
The average person needs to be able to find more places to spend bitcoin, they don’t know how to obtain it, and transactions seem too complex. Lack of education among retailers and the lack of an easy-to-use, trusted merchant platform are also problems.
LazyCoins and LazyPay are designed to fix such issues, with security at the top of their focus. Cold storage wallets and two-factor authentication for accounts, fingerprint access for the app, and multi signature keys are just some of the many features. The risk of price fluctuations will be eliminated by a polity of crediting a merchant account on the day of their transactions, by the exact amount that the user pays.
They are on a mission to sign up merchants and educate them on the benefits and ease of accepting Bitcoin. The app is free, offers zero-transactions fees, daily direct payments to bank accounts and no chargebacks. LazyPay will demonstrate how credits cards are slower, riskier and more expensive. Operating the app will be intuitive for the non-tech person, easier than using a cash register or credit card point-of-sale terminal.
On top of all these features, the app will include a live, automatically updated map showing the locations of local Bitcoin merchant and business locations. It will offer NFC-enabled for super fast POS transactions, the ability to buy and sell bitcoin directly from the app, a direct link to a bank account via the app. No hardware will be required by the merchant, along with no contracts and no commitments.
“We’re on a mission,” says Daychopan, “to spread the word and sign up as many merchants as we can. And London is our chosen starting point for this crypto-crusade. … Then we can give those Silicon Valley lot a run for their (digital) money,” becoming “a dominant force in crypto.”