Apple Pay and Android Pay haven’t really taken off yet, but the tech consumer industry believes that mobile digital wallets are the future. And so do we!
Current P2P digital payment solutions offer services and functionalities for in-person payments like handing tips, sharing the bill at restaurants, or simply paying at stores. Mobile proximity-based functions all rely on systems that help prove that payer and payee are in front each-other. The problem is they just don’t do so.
Most common presence verification systems consist of checking into the store via GPS, sharing a PIN code over text message or internal chat, taking a picture of QR codes, tapping the phone on NFC tags and very rarely on BLE beacons. They only presume the proximity of the smartphone to a “thing” (e.g. merchant) by means of a passive peripheral, a bar code, or a tag, which are very easy to replicate and pose a security threat.
Our core proximity technology combines Bluetooth and the cloud in a unique new way to offer accurate, secure, and cross-platform proximity certification for in-store mobile payments. Payer and payee are verified one in each other’s presence and cleared to start communication over the cloud, which ultimately will consist of the payer’s bank sending payments to the payee’s bank. Provisioning model consists of SDKs and/or access to API and cloud/on-premise hosting.