Developed solution is the method of electronic cashless payment between two people on the street throught the ordinary smartphones equiped by display and camera (no NFC, BLE and etc.). Use case: The Payer can buy any goods in a store. The Recipient (Payee) announces him the payment amount at checkout as usually. The Payer open the GexPay mobile application to make a payment. The Payer chooses Pay option from the menu of the application. The Payer enters the amount announced by the Recipient and GexPay application generate offline (no data connection is required) an unique identifier in the form of a QR code. QR code is shown on the display of his smartphone. The Payer shows this QR Code to the Recipient’s smartphone which GexPay application is running on. An QR Code was read by Recipient’s GexPay application and decoded data is forwarded to the authorization centre and in case that the data and account balance of the Payer is sufficient for realization of an electronic cashless pa...
Developed solution is the method of electronic cashless payment between two people on the street throught the ordinary smartphones equiped by display and camera (no NFC, BLE and etc.). Use case: The Payer can buy any goods in a store. The Recipient (Payee) announces him the payment amount at checkout as usually. The Payer open the GexPay mobile application to make a payment. The Payer chooses Pay option from the menu of the application. The Payer enters the amount announced by the Recipient and GexPay application generate offline (no data connection is required) an unique identifier in the form of a QR code. QR code is shown on the display of his smartphone. The Payer shows this QR Code to the Recipient’s smartphone which GexPay application is running on. An QR Code was read by Recipient’s GexPay application and decoded data is forwarded to the authorization centre and in case that the data and account balance of the Payer is sufficient for realization of an electronic cashless payment, the payment is processed.

Recipient of the payment does not need to wait for additional verification of payment in any bank or other payment institution, but immediately after submission of an unique identifier (QR COde) and its confirmation by Authorization centre he has an payment confirmation.

Unique identifier represent as QR Code which is created by the encryption algorithm based on identity authentication (verification) of the Payer with the possibility of multi (multilevel) authorization. The Payer may define parameters of the identifier as the date and time of creation, the amount, validity, periodicity, payment limit, payment describtion, Recipient (Payee) etc.

The Payer can also print QR Codes on the paper and use it anytime without his smartphone or he can give it to his child for buying meal in the school. (in case of use in gastro segment)
The Receiver (Payee) doesn't need special POS device or special SIM card with custom application. He can use old Android 2.3 or iPhone 4S smartphone with ordinary internet connection to fully receive payments on his account.

The main principle is substitution of cash exchange between two people on the street and for micropayments in stores.

Some movie spots for meal-credit mobile payment system:
www.youtube.com/watch
www.youtube.com/watch
More information

Employees

Marek Benkovsky
Admin
Marek Benkovsky