RE: Equal Public Offering
- Z : Finance
- Patent Rights.
- Market depends on your business strategy, private use or as subcont provider.
- Whether you are bank or not but definitely you will be considering to open bank business
or proposed to bank worldwide as subcont provider. - Bank & Fintech Game Changer.
- Cashless Society Adoption Cure
- Answer : Z Finance
Credit & Debit Card.
- Carding can happen
- It's a hassle every time you have to fill in card data
- To get cash you have to go to the nearest ATM
- Most cards are less efficient at making micro payments
- Why bother to link the card if you can authenticate and authorize in the default card application itself ? To not forget bring cards when go out ?
Proposed Solutions :
Just like a security key that can be placed in a smartphone directly, I think it is also possible for credit / debit cards.
But on condition that it is ejectable slot / with a kill power switch, so it can be turned off when not in use.
Similar to the security key, this card also has a companion application, where all the advantages of fintech can be applied directly to the default application of the card issuing bank.
And when we are out of cash we can reach near store / friends maybe to get ( regulated & limited ) cash.
(not detailed enough but I'm pretty sure I've covered the bigger picture here)
In essence, to be able to use the card requires 2 conditions, namely software and hardware (physical card itself as an additional security)
With this, bank users don't have to bother using fintech services and linking their card data every time they use the card
Proposed Solutions :
The idea is to make e-ID smaller, more portable, simplify and automating the kyc process either in person or online
Just like a security key that can be placed in a smartphone directly, I think it is also possible for e-ID.
But on condition that it is ejectable slot / with a kill power switch, so it can be turned off when not in use.
Similar to the security key, this card also has a companion application, where all the kyc ( authentication & authorization ) process can be automated on companion app.
In essence your conventional ID card becomes hardware & software in smartphone, and simplify and automate the KYC authentication & authorization process
Before this KYC procces are being done by uploading document, with companion app this can be automated submitted with consent permission.
(not detailed enough but I'm pretty sure I've covered the bigger picture here)
Hardware wallets are better solution than other.
Therefore, to get a better level of security, the use of a hardware wallet is recommended.
The problem is, hardware wallet prices are not affordable to the general public.
Just like a security key that can be placed in a smartphone directly, I think it is also possible for hardware wallet. ( may be a form of sim card or sd card ? or completely new form ? )
But on condition that it is ejectable slot / with a kill power switch, so it can be turned off when not in use.
Similar to the security key, this card also has a companion application, where all the advantages of hardware wallet can be applied.
With this hardware wallet can easily make micro payment transaction.
( not detailed enough but I'm pretty sure I've covered the bigger picture here )