Independent card payment system with POS terminals
Card payment system with POS terminals

ePurseX

Independent card payment system with POS terminals

ePurse should not be mistaken for a credit card. Credit card does NOT contain any money stored in the chip or magnetic stripe. It really represents membership number tied to the account number somewhere in the server. That means when card is swiped system will connect to server through extensive communications infra structure and validate if there is enough money left in account to pay for something. That happens EVERY TIME when purchase is made. Tens, hundreds or thousands times per second, day or night. You guess it right, communications infra structure for credit card system like that must be nothing less than ever present, perfect would be a better word.

On other hand ePurseX or electronic purse is a smart card where money is securely stored in the chip itself. It supports off-line transactions and no communications with server is required for successful purchase. If there is Internet or network it may enhance experience but if there is none system will still work fine. Many countries and places like that come to mind. For example: whole Africa, big part of South America, Central America, countries in Asian subcontinent and more ...

Our payment system is called ePurseX and may be used as universal cashless payment system. Depending on size and features selected it may use different terminals to perform payments

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ePurseX System Features

Practical, economical and secure

We already have simple ePurseONE system that any business could use. Gas station, bakery, grocery store, variety store, fast food restaurant, car repair shop, dry cleaning, pizza or hamburger place, ice cream parlour, night club, bar, cinema, school or university restaurant ... really any type of high traffic, repetitive business. 

While ePurseONE is standalone, off-line system ePurseX is hybrid system using extra features:

  • ePurseX uses central DB
  • ePurseX uses communications, Internet namely, to upload transactions to DB
  • ePurseX supports remote card re-charging
  • ePurseX uses true POS devices with Ethernet or GSM/GPRS communications
  • As true ePurse it is still possible to perform transactions when communications is not present
  • Different users are supported in system that can access the backoffice and perform various duties
  • Comprehensive reporting is available by quering MSSQL DB
  • ePurseX is perfect for large, displaced organization like gas stations, pharmacy chain, restaurant chain
  • System uses contact chip cards, however it is possible to get contactless cards or even mix of both
  • System supports 4 digit PIN for security reasons
  • There are no limits how many smart payment cards could be used in the system
  • There are no limits how many POS terminals could be used in the system 

More Reasons to Love ePurseX!

First it is important to recognize the biggest value of ePurseX system is in fact that operator truly owns it! In case of running Visa, Master, American Express and other payment system operator needs to pay: royalties, licenses, approvals, certifications, inspections, reports and everything else under the sun. It is endless drain of money. It just never stops! Owning ePurseX means freedom to charge low fees to support the system and still earn healthy profits.

Second huge point is fact that operator can't jeopardize his financial position by extending credit to cardholders that are not credit worthy. Remember, this is an epurse, prepaid system. By the time card holder spends money stored in the purse, actual funds are in the operator's coffers. Out of this fact comes in ... 

Third huge selling point for ePurseX is that everybody qualifies for it! For example penetration of credit cards in Africa is impeded by the fact that huge percentage of population does not have an bank account! No bank account = no credit card possible. To use ePurseX no bank account is required. Everybody is welcomed and accepted. 

There is more:  

  • System could be upgraded so every card could contain primary and secondary currencies
  • System could be upgraded to handle rewards points
  • System could be upgraded so card holder can send a funds to another card
  • In case of natural or man made disasters system will still work as long as there is electricity to run the POS terminals. They are actually battery powered and would work a whole day just on that power source alone
  • System could be upgraded by adding support for multiple vendors options and processing. For example like mall situation with tens or hundreds of vendors using the same system and same cards work everywhere. In every store
  • There are no special license fees, monthly or yearly, per terminal or per DB
  • Remote maintenance plan available
  • ePurseX can be branded to any operator, small or large

 

Card Processing

Operator is in complete control of cards issuance and usage. There are several steps and actions that could be taken:

  • Card is created out of the box of new cards ready to go. With simple utility operator initializes a card making it ready to be distributed or used outright
  • During that process operator can pre-load specific amount of funds into the card so card comes with balance ready to be used. In that way re-sellers, stores or third party can distribute ready to go card with face value
  • Operator has several tools using which he can re-charge card with more funds. It can be done directly from PC or indirectly by sending funds remotely to card in usage
  • Merchants or sales points use fully developed POS device to charge cards for any purchases made
  • Each POS has Ethernet or GSM/GPRS capabilities in order to sent live transactions to the main Data Base
  • It is important to understand that POS is not asking server to approve purchase, but merely notifies it so transaction can be recorded
  • Extensive reporting is available to operator by querying DB
  • It is important to recognize that if terminal in field does not have communications feed or coverage it will be unable to send transactions to DB. On positive side actual payment will be completed with no problems
  • Typically cardholder will go to operator's office or sales point to recharge card. More conveniently he may pay some other ways and those funds can be loaded into his card remotely, doesn't matter where he is located. To do that POS must have communications connection 

Typical Costs

There are only several items involved in ePurseX:

 ePurseX software ePurseX software package includes software in the cards, POS terminals, backoffice, card management modules, reporting,$24900.00 
 ePurseX cards Encrypted smart cards, contact or contactless, printed on one side in color with store or company artwork$3.80
 POS Point of Sale device with GSM/GPRS, printer, WiFi, takes mag stripe cards, contact and contactless chip cards$250.00
 Office reader CL Contactless and contact (dual interface) card office smart card reader, USB$73.00 
 Office reader Contact card office smart card reader, USB$20.00

 

Desktop smart card reader - contact

Smart card reader, desktop, Made in USA by HID - OmniKey, USB

Desktop smart card reader - contactless

Smart card reader that read contactless and contact chip cards (dual interface), Made in USA by HID - OmniKey, USB

POS device

Fully featured POS device with printer, large screen, durable keypad, contact card slot, contactless card slot, SAM card slot, battery, Ethernet and/or GSM/GPRS connectivity

Payment cards - contactless

Payment card, encrypted, printed on one side with desired branding

Payment card - contact

Payment card, encrypted, contact chip, printed on one side with branding info