Trusted Keys for Delegated Authority

Trusted Keys for Delegated Authority

.01 Context

The world of payments is changing rapidly. When the West uses card, chip, PIN, contactless payment technologies, the developing world has moved to simplified systems focused on the mobile. In China, India, merchants accept payments by QR code without special equipment. Africa, which was innovative thanks to a simple payment infrastructure based on mobile SMS, has not yet fully integrated these developments.

.02 Situation

The banks that use card networks or old mobile payments today are seeking to develop, renew and refresh their old legacies. The infrastructure developed in Asia for payments using an app, QR codes or any other Near Field Communication (NFC) device could easily be used in Africa. The business volume of merchants would increase thanks to personalized offers to consumers.

.03 Problem

These diversified means of electronic payment are made possible by the advent of NFC communication technology. Wireless with short range and high frequency, it allows the exchange of information between peripherals up to a distance of approximately 10 cm. This type of payment avoids cash and the risks associated with it. Covid-19 shows the need to avoid bacteria and viruses carried by species. The rise of a cashless society is upon us. It is a way of anticipating the coming transformations of payments: biometrics, the Internet of Things, the evolution of the code, etc.

.04 Solution

All consumers, whether banked or not, must have access to these simple and modern payment tools. With our TrustedKey, consumers do not need to own a phone. An NFC card or simply a passphrase can be accepted as a means of authentication by the merchant at any time, reducing financial inclusion at almost zero cost. Our exclusive QR code VO2 technology allows the use of low-end camera phones.

.05 Information

The example of tourism on Koh Rong Island - Cambodia. 30,000 foreign visitors per month. No banks or ATMs, so visitors need to take cash in U.S. dollars to pay for food, drinks, and activities. Using the WinstantPay wallet and the RFID Trusted Token bracelet. Tourists benefit from Tap & Pay thanks to a low-cost wallet, with the possibility of recharges and emergency funding. The funds remain in local currency. The change is made when necessary. Instant online statements. Local merchants benefit from instant payment without tabs or loss of sale. The procedure is identical to cash, without retro-invoicing or deduction. Cash risks are reduced: counterfeit money, excessive exchange, theft. Funds are available instantly to pay suppliers. Sales and profits increase: using the bracelet as a payment option increases customer spending by up to 30%.

.06 Functionalities

Instant payments

In order to complete an instant payment you simply enter the receiver's account alias or pick from a list of prior Wallet holds and maintains all your account balances and gives you easy access to your past transactions and account statements. To manage various accounts the company can seamlessly transfer funds between your accounts.

Multi currency accounts

Convert & exchange

KYC compliance

Winstant Galaxy

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