KUALA LUMPUR, Oct 5 (Bernama) -- Digital Wallet -- a payment device enabling peer-to-peer payments that works without Internet will be launched soon.
It will also eliminate or minimise the needs of worldwide printing of currency notes, minting of coins, ATMs and Internet based phone payment options, according to Future Age Solutions (FAS).
“The worldwide counterfeit currency business will also come to an end,” said Vice-President of FAS, Vinod Khillan.
FAS, a Singapore-based disruptive products innovation startup is set to launch the Digital Wallet in stages worldwide starting 2019 which will be reached even to the remotest areas of the world, a statement said.
The idea of this invention is to replace the physical wallets by Digital Wallet -- a handheld slim and tiny biometric device -- that works on fingerprint authentication, makes payments or transactions highly safe and secure in encrypted mode.
The total isolated private network, encrypted inter-communication and total isolation from Internet connectivity makes the Digital Wallet extremely safe, secure and immune to hacking and data theft.
It functions on proprietary systems like processor, operating system, Unique Embedded Text Script and payment processing software application inventions by an Indian origin inventor and founder of FAS, Raj Tore.
The Digital Wallet will cover all 180 legal tender currencies of the world within the geographic territories of the currencies with FAS’s US subsidiary corporation -- Digital Cash Inc -- which will setup worldwide currency specific subsidiaries to enable the transactions.
-- BERNAMA
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