Our company is planned to provide 'this solution' to only one company or one consortium per nation. It means that corresponding company or consortium would get a monopolistic authority in performing business which makes the best use of our solution. We will provide a right to perform of 70 patents nation by nation country as a package of hardware and software technology transference and prototype product. A company which gained our company's solution would freely choose a device manufacturing and distributing company. However, we can introduce a manufacturing partner who is quicker, more stable, and highly more price-competitive than others. You would be supplied Made-in-Korea device with the same price as of manufactured price in China.
We did not apply state-of-the-art technique in components built in POS connector. A combination of low specification components which are widely used in existing IoT products, realizes enough performance. Value of POS connector is based on convenience, stability, and a software Design Technique which perfectly controls processing speed. We continued the development aiming at a structure of lowering the cost and distributing to as many offline stores as possible in large quantity. With the price of one dish of pizza per one store, you could cover Pay, Bigdata, O2O business.
The core technique applied in POS connector is Bluetooth 4.2 which started to use in 2014. Android smartphones or iPhones that nowadays people use provide Bluetooth 4.2 mostly and it is hard to find a smartphone which does not provide Bluetooth 4.2. In the past, Bluetooth had limit in power consumption, stability and transmission speed, but currently it is widely used in most of IoT solution. These days many people use Bluetooth in connecting headset, wearable, car-audio and etc to their smartphones. In the past, it was hard to get authority from the smartphone's Bluetooth, and very few people put Bluetooth function always on. Now, it is not. Please verify 'your' smartphone whether Bluetooth is on.
If you input garbage in, garbage comes out. When you input messy data, bad outcome comes out. Currently the data collected by OCR technique is inaccurate because it was not cleansed, at the same time customers should handle the process of taking and sending the photo by handwork. However, POS Connector collects data at customer's smartphone as a JSON format and can transfer the data to payment company which wants Big-data as it is.
The principle is simple. POS connector catches the essential data from the receipt between POS and receipt printer. That is total payment amount. By finding the amount, APP applies it to the payment process automatically, or if there occurs an error, it lets customer input the payment amount by themselves.
' QR payment ' makes it compulsory that the store owner makes customers uncomfortable or buys expensive QR code reader equipment. If QR code reader is not available, the customer should input the price accurately manually, and to the cashier’s perspective it is hard to check whether the amount was paid or not. Because the paid amount does not appear on POS machine and instead APP sends the paid amount to the smartphone of store owner. Thus, when the store owner is away, it is difficult for the cashier to approve the payment through " QR payment. " Moreover to build QR code reader in existing POS, cost for coordination of interests of POS manufacturing company and distributing company, cost of purchase, cost for installation, and cost for upgrades happen. Also, when you put more than 1000 words included in receipt in a QR code sticker, because it is too dense and complicated, it can’t be printed out clearly, and an error comes out when you read it in smartphone camera. This amount of data can be only recognizable when it becomes a poster size. All the previous payment method including ' QR payment ' cannot gather the receipt data, due to the limit in amount of data transfer volume.
LINEPAY's QR device works separately from POS. It is not connected to POS. When a cashier inputs number of prices into the device and customer starts LINEPAY APP and takes a photo of QR code, the LINEPAY APP transacts the payment. Also, because there doesn't come out a receipt, the cashier should make receipt separately. However, our solution is connected to existing POS. We do not need to input the price directly and take the photo of QR code with camera. Furthermore, since paper receipt comes out, the cashier will notice easily that the payment was completed normally. To the customer's perspective of convenience of use, tagging your smartphone would be much easier and comfortable.
First, recycling. You don’t have to buy hundreds of dollars of POS terminal and set it in store, for the QR code-based payment business. You can recycle existing payment methods such as POS or credit card terminal at offline stores as they are. You could do perfectly independent business being separate from POS manufacturing company or POS distributing companies. Second, bigdata. You would get big-data and Deep-data from myriad customers’ receipt. You can carry out business model like receipt 'COLLECTOR', which Naver of Korea did and Indonesia’s Snapcart immediately. Third, platform. By distributing this POS connector, you would conquer the payment platform market in a nation as if Alipay did. It was only after the magnetic reader was distributed that credit card system proliferated. Our solution is the same stage of distributing Magnetic reader in ' QR payment ' business. One can use our solution as monopoly structure to dominate the platform, or charge usage fee by allowing other Payment business’ QR code. Fourth, O2O business. Our solution provides ' QR payment ' platform and at the same time provide bluetooth Beacon O2O service. In return for supplying beacon business services like advertisement, reservation and order, you could get subscription fee voluntarily from offline stores and get tremendous earnings.
When consumer pays through POS connector, he can select at settlement App whether he will print out a paper receipt or not. If a consumer concerns environment much or does not like to receive paper receipt, the customer would be satisfied with just mobile receipt. Stores will save the cost of the paper receipt which had been wasted. Since consumers can manage personal receipt in mobile without paper receipt, they will receive more convenient and better user services than any other. Of course, mobile receipt comes out unconditionally, whether you print a paper receipt at Payment APP or not.
POS connector basically supports QR code-base Payment business. At offline stores they can’t take customers by relying on only 'one' Payment business. As the number of Payment business is high nowadays, store should accept many QR-base Payments means. POS connector can embed more than two, many number of QR codes and many Payment businesses can use 'this device' in common. Of course, a businessman who uses our solution and distributes it directly can collect usage fees from other businessmen.