Technologies

1. Preprocessing

The preprocessing is connected to a bank’s processing system – or toa third-party processingsystem servicing the bank – through the ISO 8583 protocol which is standard for all processing types and requires no modifications.

SMART terminals arehooked up to the preprocessing.

Acceptance of cards with magnetic stripes, EMV chips, and contactless cards (NFC).

The preprocessing meets the PCI DSS information security standardand is certified by the leading international payment systems VISA and MasterCard

Complete set of operations: purchase, cancellation, return of goods, partial cancellation, partial return of goods, daily closing, reconciliation of totals. Recurring payments support.

Bank’s personal account: activation/deactivation of terminals andcustomers, transaction types customization, limits customization.

VISA Certificate

MasterCard Certificate

2. SMART Terminals


A SMART terminal replaces a cash register and a bank terminal and allows for opening a new source of revenue by taking payments in favor of third parties. A SMART terminal can be used by courier delivery services.

3-in-1 SMART-terminal.

1. Bank terminal

  • Magnetic stripe cards acceptance
  • Chip cards acceptance (EMV)
  • Contactless cards acceptance (NFC)
  • International payment systems certificate for all types of transactions
  • Connection via Wi-Fi, Bluetooth, cellular network
  • PIN-code entry via touch screen

2. Cash register

  • Thermal printing of receipts, including promotion QR codes and fiscal receipts
  • Roll size: 57x30mm
  • Barcode scanner and QR codes
  • Transactions history storage on a local Micro-SD card
  • Online registration of receipts on a tax authority server
  • Integration with external devices and databases

3. Payment terminal

  • Cellular communication payments acceptance
  • Utility bills
  • Loans repayment
  • Game-related payments
  • Tax payments
  • Police fines payments
  • Other payments

Technical specs

  • Size: 201x84x56.5 mm; weight with paper and battery: 490 g.
  • Battery: 6000 mAh (up to 72 hours of battery life)
  • Moisture/dust resistance, can withstand falling from up to 1 meter’s height
  • Display: LCD 5.5 inches, 1280/720 pixels
  • RAM: 1 GB
  • Storage: ROM 8 GB
  • CPU: MSM8916 Qualcomm, Quad-core 1.2 GHz
  • OS: Android 5.1
  • Cards: 2 SIM and 1 microSD
  • External Android apps installation capability

3. Merchant’s personal account

  • Online viewing of all transactions from all of the merchant’s terminals
  • Convenient filters and reports on the geography, time, size, and type of payment, including terminal number
  • Grouping of transactions by purchase/return/cancellation to simplify reconciliation
  • Convenient for retail outlets of any size, even those with 10,000 terminals at 1,000 points of sale
  • Independent setting of limits and rights for each terminal
  • Centralized management of employees with access to transactions; capability to set different levels of purchase rights, both for limits and for transaction types.
  • Capability to export reports
  • History of cash payments via terminals and purchases from online stores
  • Transactions search by payment details
  • These features do not come with standard solutions by suppliers of processing systems
  • The solution is built around own development
  • Multi-lingual, user-friendly interface as per UX/UI standard


4. VISO Shop

  • The system allows any merchant to set up an online store with an online terminal connected to it
  • The launch time of an online store in the VISO Shop system starts at 15 minutes, depending on the customer's customization preferences for design and goods quantity
  • The system is ideal for small businesses and merchants

An online store based on the VISO Shop platform is created in three steps:

  1. Register by specifying all company details, including retail outlets’ addresses, goods delivery capabilities, etc.
  2. Select a domain name, select a website template, upload a logo, select font styles
  3. Fill the storefront with goods. For each product, you need to specify the name, cost, description, vendor code, etc.

5. Payment cards

By opening a VISO Wallet, you can immediately issue prepaid cards such as Virtual or HCE (host card emulation)and pay at any point of sale bearing the contactless payment sign or online. Payment restrictions apply to limits before the authentication is completed.

You can order delivery of a VISO Light prepaid card to your address around the globe. You can use it to make payments without a smartphone and where contactless cards are not accepted, but the same payment limits apply.


6. Wallet

The VISO Wallet allows for connecting other cryptocurrencies – Bitcoin, Ethereum, Waves – to pay for services via VISO cards.

The Wallet comes with a capability to store funds in Georgian laris, U.S. dollars, euros, or VITO tokens.

From the Wallet, you can wire funds into bank accounts after completing the authentication.

The VISO Wallet is a protected platform with bank security standards-compliant access. The Wallet comes in the form of a website and a mobile app that enable you to:

  1. View Wallet, cryptocurrency, and bank account balances
  2. View transaction logs
  3. Transfer VITO between users
  4. Sell/purchase VITO using any bank accounts
  5. Buy VITO by exchanging external cryptocurrencies for it
  6. Buy VITO with any payment cards
  7. Pay for services (mobile communications, utility bills and such)
  8. Order bank products (VISO Card Light, VISO Card Virtual, VISO Card HCE, VISO Card Pro)


7. Exchange

The cryptocurrency exchange is integrated with the VISO Wallet and allows for carrying out transactions to purchase/sell VITO cryptocurrency and exchange it for both fiatmoney,transferable into Georgian bank accounts, and other cryptocurrencies. The exchange rate varies automatically withina current currency position, depending on how VITO is trading in relation to all currencies.

VITO cryptocurrency can be traded on external exchanges not connected with the VISO environment. VISO holders can independently buy/sell the cryptocurrency from/to other users, setting the exchange rate on their own.

Trade turnover will depend on the volume of cryptocurrency purchase/sale translations. Cryptocurrency purchases by individuals will also be processed via the exchange. The exchange maintains balances within 10% of turnover to enable transactions. Large transactions can take a long time, as making them requires the accumulation of a sufficient sell/purchase turnover.

Major currency pairs:

  1. BTC - VITO
  2. BTC - ETH
  3. BTC - WAVES
  4. ETH - VITO
  5. ETH - WAVES
  6. WAVES - VITO
  7. VITO - GEL (Georgian lari)
  8. VITO - USD (U.S. dollar)
  9. VITO - EUR (euro)

Conversion of other cryptocurrencies into the VISO Wallet balance and associated VISO cards is only possible through conversion into VITO. This ensures VITO turnover in the secondary cryptocurrency market. VITO is thus a link between other cryptocurrencies and VISO services.

Upon receiving VITO, a user can immediately convert them into their VISO Wallet balance denominated in Georgian laris, U.S.dollars, or euros.

8.Technology readiness

SMARTterminals are certified by the international payment systems VISA and MasterCard.There is an agreement with factories to produce up to 100,000 terminals a month. A registration procedure with Georgia’s tax authorities is underway.

VISO Preprocessing is ready for operation, certified by VISA, MasterCard, AliPay, Samsung pay, Apple pay, AmericanExpress, and others. There are copies of the processing already launched but used in other tasks.

VISO Shop: ready for use;there are running copies in other countries.

Processing for cards: there is a prototype of the technologies that will be used in the work;negotiations with vendors on the delivery of the processing are in progress.

VISO cards: there is a conceptual design, a product line, and tariffs.

VISO Wallet: there is a conceptual design and a description of an operation technology.

VISO cryptocurrency(VITO): adeal has beenmade with Waves Platform to issue the cryptocurrency;and an internal test has been conducted.

Exchange: thereis a conceptual design; key business processes have been identified, and an operation technology has been described.

Stage of readiness Conceptual design Prototype Test version Ready for operation
SMART terminals
VISO preprocessing
VISO Shop
Card processing
VISO cards
VISO Wallet
VISO (VITO) cryptocurrency
Exchange
Use VISO to make your cryptocurrency payments from anywhere
The payment ecosystem of VISO provides a full cycle of technologies for receiving and making payments.
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