SA’s 4ORT Secures Global Patent For First ‘Fraud Free’ QR Code
4ORT, a Cape Town- Based startup is the first startup to launch a ‘fraud-free’ QR code dubbed Digital 4ORT ID and has received a global patent for it.
It’s algorithm ensures secure storage of mobile users identity within its code which significantly reduces chances of duplication by fraudsters. 4ORT ID delivers credible identification and admittance into secure environments. It is also applied in event ticketing, smart loyalty programs, market place purchases and secure document transfer.
All these services are enabled whether the user is online are offline and they require the user’s biometrics or secure PIN for approval for any transaction to occur. For this solution to function however, both the user and vendor must have the 4ORT platform.
“Malfunctioning cards, broken tokens and lost keys are a thing of the past as 4ORT’s dynamic QR codes mean mobile users requiring access to their offices, parking, homes and more need simply point their mobile handsets at dedicated 4ORT scanners,” says chief executive officer at 4ORT, Andrew Georgeou.
Quick Response (QR) codes are optical labels on products. They are read by machines, which give information about the products and are applied in a variety of e-commerce processes.
Their usage is common in the US and Asian countries like China and Japan, where they are used to facilitate payments and even in social apps such as WeChat.
With over 500 million internet users in Africa and a growing penetration of mobile phones, African industries are adopting ways to engage this demographic. Industries such as retail and marketing have also started adopting the use of QR codes in commerce.
Some African startups employing this technology for payment solutions have also come up. Zapper, Snapscan, Youtap and Nedbank are some entities that have enabled QR code payments.
Feature photo courtesy: MOLPay