Bit Money has a simple strategy - become a worldwide payment system using Bit as the currency and Bit Money Platform as the payment system. To do this we developed a platform and software patch that is applied to existing Point of Sale infrastructure in a way where it does not actually need to use credit cards.
With Bit a person at a store can use their cell phone to pay for goods and services on an existing "old technology" credit card machines. In this payment process Bit actually appears as a foreign currency to the credit card machine and the store receives local currency. The same thing is done if an American in Europe is using an American credit card in dollars and the store in Europe is receiving - at time of purchase the exchange is done - Euros. This way the exchange is done at time of purchase and there is no exposure for the store to currency price volatility.
Bit Money has a Fin-tech team that is in the process to set up its own transaction processing, thus it will take 5 to 10 days for transactions to process with Bit rather than credit cards taking +30 days to clear. This flexibility helps stores to have money from the sales much faster.
Bit has a simple strategy: replace plastic credit cards with a Bit on a phone wallet.