QR2/BLE Competitive Analysis

Apple Pay

  • Pros: all iPhones support NFC, fast transaction
  • Cons: NFC is not opened for the third-party developers

Google Pay (NFC)

  • Pros: NFC based, fast transaction
  • Cons: only high-end phones support NFC, less than 10% of Android phones

Google Pay (Ultra-sound)

  • Pros: support all Android phones
  • Cons: not for close proximity, not suitable to be used in automated fare collection

QR code-based Pay

  • Pros: support all smartphones
  • Cons: requires on-line transaction and transaction time is much more than 4 seconds.

iBonus Pay Technology (QR2/ BLE)

  • Pros: support 99% smartphones IOS and Android OS
  • Pros: work in off-line and the transaction time is less than 1 second.
  • Cons: new to the market

Competitive Advantages of Offline over Online system

High implement costLow implement cost
Transaction is slowerTransaction is fast
Need a reliable & low latency networkLess dependent on network
The server requires high performance and
high availability
No need for high performance &
high availability server
7/24 supportno need for 7/24 support
High operating costLow operating cost
Operating cost is directly dependent
on the number of users, and the number
of concurrent transactions.
Operating cost is independent of
the user population and the
number of transactions.

Most AFC system suppliers don’t understand off-line technologies

What they are really supplying is merely a sophisticated and expensive online system with integration of the following features:

  • Terminal devices with network 3G/4G capability
  • Key security with security access module (SAM)
  • Smart Card with high security and durability
  • Fully integrated system with backup facilities
  • Interoperability with different card system
  • High availability server system
  • Sophisticated clearing center
  • Sophisticated reporting

They simply assume that network is always available and terminal devices will always able to send data back to the server.

No system suppliers mention how to handle transaction record lost due to terminal device failure.

Transaction between card and terminal is done in real time, but the transaction record is sent to server in a delay manner.

There is a chance of losing record due to device failure even in a fraction of a second.

iBonus ® AFC system assumes network is NOT always available

Our server manages the sequence of delayed transaction records and can fill the holes.

Our server handles the security of the card by monitoring abnormality.

It is a true off-line based system and is cost effective.

Our systems used by US Army and UN World Food Program survived even in the harsh environment in countries like Afghanistan, Syria, and Iraq where network or Internet is not always available.