No one envisioned that two smart chips could create a digitally-signed token WITHOUT interacting ONLINE at the instance of making a payment. With the MiniPay solutions the 5th Payment Revolution has just started, it's a logic evolution for the use of Smart Chips.
Existing payment solutions offered in today's market create EXCLUSION where the Street Vendors, small merchants cannot accept digital payments.
Moving towards a cashless society requires a solution that works for everyone, at any time, without being dependent on the internet or mobile access. Current payment solutions are outdated, it takes too a long time for making a payment and dependency of smartphones for everyone is a nice dream and vision, but what will we do when there is no communication available?
The infrastructure cost of traditional POS Terminals (card acceptance devices) is too costly for most small street vendors and service providers. MiniPay is a complement to the FinTech industry by providinga a most needed offline complement which including everyone, especially in developing countries, even the last mile vendor, with their safe, affordable and fair payment solution
As a spearheading Tech-Team for more than 30 years, our Team has witnessed great initiatives flourish, with grand visions, but never reaching their goals, because they didn’t create INCLUSION. This inspired us with an idea that others hadn't thought about but which became so obvious to us.
WHY DEPEND ON ONLINE WHEN OFFLINE WILL SOLVE THE PROBLEM!!!
ViA Global Solutions (ViA) continues its mission of bringing the ViA Model and the ViA Concept to the entire world. With our latest patent applied solution, ViA MiniPay™, the Swedish tech-duo of Lars Olof Känngård, the ViA Groups founder and CVO (Chief Visionary Officer) and his equally-brilliant partner, Mats Engström, are now paving the way for Financial Inclusion in India and the African continent as the initial step in crossing the threshold of global success.
The global estimation of actual street vendors can exceed 1.8 billion, states CITYLAB. In a recent street vendors survey in Mumbai, India it is clear that the vendor's biggest problem is the time it takes to return any change and the insecurity to carry cash, conducted by the ViAcard India Ltd's team.
Throughout the next pages of our website you will see many examples of Swedish Technology at its finest.
While others are chasing new online solutions or are mimicking each other, we have taken a completely different approach and a more disruptive one. We have identified the reality-factors for why the traditional financial institutions or FinTech players have not been able to reach the last-mile markets or provide a solution which would bring the unbanked into a modern, secure digital payment solution.
Our latest patent applied innovation, the ViA MiniPay POS device was invented in 2017 to enable EVERY STREET VENDOR or self-employed micro business to accept secure digital payments from a prepaid wallet (on a smart-chip card) even without an internet connection or a mobile phone.
User gets a ViA account and a ViA Card with VOW.
User loads the pre-paid wallet (VOW) with cash at an online merchant OR transfers money from their bank account.
VOW (ViA Offline Wallet) is assigned a Token amount.
You could explain the Offline Wallet (VOW) as a secure electronic cheque-book and at each purchase when the user pays to a Vendor a digitally signed cashier-cheque is created and given to the Vendors card.
The vendor has a ViA MiniPay POS device and a vendor ViA Card.
When user pays the vendor, the user's ViA Card creates a Token.
The token is stored on the vendor's ViAreg; card.
Token is digitally-signed and locked to the vendor.
The payment is completed in less than a second using NFC - "touch and go".
Vendor uploads the stored VOW tokens to his/her ViAreg; Account at the end of the day or as many times during the day.
The ViAreg; backend system instantly validates the tokens and credits the amount to the vendor's ViAreg; account.
The vendor can then use his/her ViAreg; card to enable further purchases or to withdraw cash.
-Lars Olof Kanngard, 2005
The ViA MiniPay™ device does NOT NEED any internet connection when accepting a payment, anywhere.
The ViA MiniPay device operates with normal regular batteries.There is no need for an external power connection. Even in the most remote locations, a secure payment can be accepted with the Via MiniPay™ device.
The ViA MiniPay™ device does NOT NEED any mobile phone for accepting Offline payments made with a ViA Card or any other card or device using a smart chip and the Verified Offline Wallet (VOW). The small street vendor who only sells fruit and who does not own a mobile phone, can now accept secure electronic payments with the ViA MiniPay™ device, anywhere, at any time.