Wouldn’t it be great to offer customers an easy and simple mobile payment solution? Allink, an innovative O2O mobile solutions startup aims to do this with NFC technology. Most smartphones are already equipped with NFC (Near Field Communication) technology. For example, any iPhone since iPhone 6 has an NFC chip in them. It transfers data wirelessly when it is in close proximity to an NFC reader device. However, unlike Wi-Fi or Bluetooth, NFC has a much shorter range which makes it ideal for mobile payments. NFC can also be found on tablets, metro cards, and even gaming consoles.
An NFC tag is a small integrated circuit. Data can be read or written to this tag only when another NFC device is near it. The magnetic field from an NFC reader powers the tag and enables data transfer. NFC is an evolution of RFID (radio frequency identification).
Most have used RFID as it is commonly used for key cards that can open offices or hotel rooms. Both NFC and RFID need a reader device to generate a magnetic field. Then when a tag is in range, the field induces an electric current within the tag. Once this is done any stored data on the tag is wirelessly transmitted to the reader. However, RFID is often used over longer distances. NFC only has a maximum range of a couple of centimeters to prevent accidental connections. Another key difference is that NFC devices can be either a tag or a reader which allows for many types of applications.
Current readers and scanners are not designed for mobile services. Allink provides a B2B NFC tag-based information transfer solution for O2O mobile services. It is a white-label solution designed to support every mobile service to transfer data through a single NFC tag. Allink utilizes affordable NFC Tags and offers a specification-free (open-format) and integration-free environment.
Therefore, Allink enables every mobile service to provide NFC-based service, even with the iPhone. Only Apple is able to utilize NFC functions for the iPhone (e.g. Apple Pay), but with Allink’s solutions, payments like Amazon Pay, PayPal, and Facebook can provide “tap to pay” (NFC-based) for the iPhone. Moreover, it is not just for payments, it can also be used for rewards, gift cards, security access, etc.
As you can see from the video above, there is huge potential for clients such as PayPal, Amazon, and Facebook as Allink makes it convenient for them to expand their service locations and makes it easier to onboard merchants and distribute the tags.
Merchants simply need to install the Allink agent and integrate their library into the app. The installation process takes 2-3 days and is free for the merchant. Allink gets 1 cent per transaction. Merchants do not need to change their legacy system. They simply need to install the Allink agent to their device at zero cost. Allink will provide the NFC tags for free. In addition, the Allink solution can be easily installed in most devices receiving information such as POS, CAT, KIOSK, ATM, and etc.
The goal for Allink is to connect the world’s mobile infrastructure by replacing scanners and readers with Allink’s solution. It can be easily applied to various apps. Therefore you don’t have to provide a single service with each device. Instead, you can have multiple services with a single tag. What separates Allink from other NFC services is its compatibility with both iOS and Android. Therefore, they aim to provide the most effective infra-solution.
“Our mission is to provide the most effective infra-solution to the partners and merchants to bring out their best IoT environment,” said the CEO of Allink, Kim Kyoungdong.
Allink will be one of a select few Korean startups at CES 2022. They are looking to connect with platforms such as PayPal, Facebook, Amazon to partner to help them connect with offline consumers. The Allink solution allows mobile services to expand location and service easily by accepting multiple services under a single tag. In addition, it does not require modification to current terminals (integration-free) and can be easily embedded into mobile services.
South Korea has a 99% smartphone adoption rate. The United States is not far behind at 85%. Moreover, consumers all around the world have become more comfortable with mobile payments. Allink already partnered with platforms, retailers, financial institutions, and infrastructure companies in Korea. For example, Allink’s Solution MiraeAsset Pay is now the first NFC-based payment service for iPhone in Korea. It’s available at 11K 7-eleven locations and expanding with many more brands.
Now they have their eyes set on the U.S. market. Why the United States? In the United States, nearly 90% of POS terminals have NFC capability. In addition, the US Market Mobile payment infrastructure is moving towards contactless payments. This is a golden opportunity for mobile businesses to partner with Allink to bring their customers a simple and easy mobile payment solution.
Deep Tech is quickly becoming a key focus in the global investment landscape, and it…
As machine learning and AI technology continue to advance, businesses all around the world require…
By now, many of us have already been exposed to the world of augmented reality.…
As the world struggles with food security and nutrition challenges, there is growing acknowledgment that…
The future is AI Technology. Top entrepreneurs like Elon Musk and Mark Zuckerberg have been…
Undoubtedly, agriculture is one of the most fundamental industries on our planet. It provides food,…