The night of the ESSEC, which brought together more than 6,000 participants in Cergy on Friday 20 January, had invited a rather discreet and very effective partner to the party: the Payin Tech electronic purse light bracelet.
APayin Tech, which has become the leader in cashless since its launch in 2013, equipped the ESSEC party with its Mybee contactless payment solution in a totally portable version, thanks to around sixty mobile terminals equipped with NFC readers, spread over the twenty bars of the event.
How does it work?
Based on a radio frequency communication process, the Payin Tech card has no battery, its energy coming from the radio wave emitted by the reader. The object's antenna functions as a receiver of RF energy. When the chip connected to the antenna enters the reader's field, it receives the energy and communicates with the reader.
Thanks to a wide choice of communication and frequency protocols, in short or medium range (High Frequency) or long range (Ultra High Frequency), many transactions can be carried out in contactless technology for the identification of persons or objects. The communication distance varies according to the ISO protocol used, the chip selected, but it also varies according to the size of the reader, the card antenna and the environment.
It is therefore a "must" when it is necessary to manage a flow of people or objects in a limited time, when transaction speeds must be high and when a system must be secure. Contactless" can be used for financial applications, secure access control, secure ID documents, teleticketing in public transport and all RFID applications for inventory or object traceability. A small revolution in the world of mobile terminals.
Revolutionize the counterpart of the event
Bertrand Sylvestre and Jean-Rémi Kouchakji, young graduates from HEC Paris, have perfectly understood the opportunity of such a process: they created a first startup in 2010, "MyBee-EVENTS", to offer music festivals or sports tournaments the deployment of this type of private payment system. This is the first step towards the total dematerialization of admission and payment tickets.
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On the strength of this initial success, they repeated it by creating Payin Tech in 2013, more focused on B to B, dedicated to another market: that of tourism and leisure parks.
NFC technology is fully available, so they encrypt the information on a chip and create their own hardware, the "mybee-box" The new system: from now on, every person with a chip bracelet will be able to walk past the cash, reload or sales terminals without stopping, without having to take out their wallet or change.
All the data is stored on a website, a platform that processes all the statistics and allows precise management and configuration tools: with each new article, new price, new seller!
The fluidity is total: no more traffic jams at the entrance of the auditoriums, no more waiting in line to buy a drink. As for internal management: you control your sales, your stocks, your staff, directly from the administration interface: zero loss, zero theft!
In addition, you know the profiles and consumption habits of your customers. You therefore adapt your offers and promotions in order to satisfy them more and more...
The customer no longer needs cash and his psychological behaviour changes when he makes a purchase, as money disappears from the transactions. Like a technological "ball necklace"!