SNAPCARD Chooses VoltDB and Fast Data to Process Real-time Bitcoin Transactions

VoltDB enables real-time processing of virtual currency payments and analysis of global exchange rates

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Dec 18, 2014, 09:00 ET

BEDFORD, Mass., Dec. 18, 2014 /PRNewswire/ -- SNAPCARD, the leader in digital currency payment processing, today announced it has chosen VoltDB, the world's fastest operational database, to securely process virtual currency transactions in real time and deliver the benefits of fast data to its growing community of merchants.

As virtual currencies, such as Bitcoin, grow in popularity and acceptance amongst consumers, merchants are looking for ways to make it a part of their overall strategy and offering. To meet this demand, SNAPCARD – leveraging VoltDB and fast data (data in motion) – has created an offering which significantly boosts the rate at which organizations can process data, transactions – and, importantly – derive actionable intelligence in real time.

"At SNAPCARD, we simply cannot afford to take chances with our customers' sensitive data, which is why we chose VoltDB's scalable, high performance and secure solution," said Ioannis Giannaros, co-founder and COO, SNAPCARD. "With VoltDB and fast data, we have built a solution that not only meets the real-time requirements of our customers, but does so while meeting industry security and compliance regulations."

Working with VoltDB's fast data solution, SNAPCARD offers the following services:

Real-time payment processing. With tens of thousands of transactions every day from the bitcoin blockchain, SNAPCARD requires a database that supports real-time transaction processing.
Exchange rate collection and analysis. To ensure customers have the best exchange rate possible, SNAPCARD tracks global digital currency markets in real time.

"While virtual currency is still evolving, the payment industry has been around as long as anyone can remember – and it's an industry that appreciates speed and accuracy," said Bruce Reading, president and CEO of VoltDB. "VoltDB allows SNAPCARD to focus on its business – automatically delivering payments and transactional data to merchants in real time – rather than spending time and resources building infrastructure. With a modern, scalable, reliable platform, VoltDB is a great partner for companies in the financial payments market."

About VoltDB
VoltDB is an in-memory, scale-out SQL database purpose-built to power a new generation of applications that thrive on fast, smart data. Tapping the lightning speed and real-time analytics of VoltDB, organizations are able to add context and intelligence to data – the instant it arrives – to make real-time transactional decisions that maximize business value. The relational database is architected to meet the distinct requirements of fast data, which leads to Big Data. Organizations in markets such as mobile, financial services, energy, advertising, security and gaming rely on VoltDB to process smart data fast to capture new revenue opportunities, drive competitive advantage and create highly-specialized interactions. VoltDB is privately held with offices in Bedford, Mass. and Santa Clara, Calif.

About SNAPCARD
SNAPCARD offers a suite of products and services which are designed to make it easy for the average consumer or business to use Bitcoin and alternative decentralized digital currencies. Founded in 2013, SNAPCARD is focused to help bring liquidity to the digital currency community. SNAPCARD is headquartered in San Francisco, California and has offices in Australia, and Canada.

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SOURCE VoltDB