2D Transact – Explained in simple terms:
2D Transact is a patented system made available to any community (Banks, e-Wallets, Value Stores, loyalty schemes…) with existing applications or interfaces to intelligently and securely control transactions between two or more parties. All parties making use of the 2D Transact system must be preregistered and enabled to communicate with the system. Transactions are controlled at a central point where unique codes are created per transaction.
The Simplified 2D Transaction Flow:
Party A, sends a transaction registration requests to the 2D Controller and Party B, or multiples, responds to the unique 2D code created for the transaction.
Detailed Transaction Flow:
Party A initiates a request for the registration of a transaction to the 2D controller based on defined attributes and detail of the transaction. The 2D Controller then creates a unique code associated with the transaction and sends it back to Party A that requested it.
Party B or multiple other Parties responds to the 2D code given to party A and approves or authorizes the transaction.
The practical uses of the 2D transaction mechanism cover a wide variety of transaction types
2D is not another wallet based payment system or mobile payment application. 2D enables and empowers an entire community, such as a bank and or other e-wallet based company, to provide the safest, most convenient and user friendly payment experience to account holders. 2D is more than just a payment and usable for a myriad of transaction types . It is made available to the community member through a simple menu item inside their existing mobile or web applications.
Financial transaction example: Payment at a till
2D offers no application downloads or underlying accounts and therefor no individual user registration is available on the system. 2D is adopted by the community , i.e a bank and enabled by any retailer or merchant. Since 2D does not require any personal information to be entered or any identification to be provided on any kind of interface at the point of transaction (Till, e-commerce site…), the process essentially eliminates card based PCI and EMV requirements.
2D is essentially a cash-less and card-less payment or settlement at the merchant till.
If you’re a bank, wallet company or merchant looking for the ideal cash-less and card-less payment option for your members and clients, then email us at info[at]2dgroup.co.
2D is quick and simple to integrate with.
Paying with your mobile phone has never been easier. You can make cashless and card-less payments using just your 2D menu inside your existing account access application or interface. Your community will have to be 2D enabled for you to use this amazing tool. Ask your community owners to get 2D enabled sooner rather than later.
Many other banking activities can be facilitated through the 2D transaction controller. Transactions such as card-less withdrawals at an ATM, money transfers, deposits and much more. All from a single menu residing inside your community’s existing account access application or interface. A wide variety of financial and non-financial transactions can be made available through the 2D menu once logged into your banking application.
Responses to any published 2D codes can easily function as a voting mechanism. The 2D response is verified with an audit trail. When you control a transaction through the 2D controller it is always safe, verified and protected. Voting or responding is made possible through the 2D menu inside the existing bank or subscriber mobile application or account access interfaces. The community operating the account should integrate with the 2D API before this function becomes available.
Using information safely is applicable to any industry. At 2D we believe in mechanisms that protect the public data and add value to their every day lives at the same time. We are promoters of simplicity and the 2D mechanism was designed to be exactly that. The 2D mechanism could be used by the public to perform various audited and verified transactions by simply responding to a code from a mobile phone or website. It sounds incredibly simple, and yes: it truly is. 2D handles the complexities needed for the technology to operate a secure end to end transaction on the 2D controller and presents the person responding to any 2D code with a simple and convenient interface. Most of the public today uses mobile applications and 2D is presented as a simple option on a menu inside an existing application.
A typical use case for this 2D feature would be public voting or even the action of donating towards a 2D code that is advertised or promoted. Simply access the 2D menu inside any of your existing 2D enabled applications, enter the 2D code or scan the code if your application permits and then verify the transaction when you are prompted. Simple and effective. The transaction is also linked to a full audit trail, secure end-to-end transaction.
Not only can 2D’s cashless and cardless payment enable safer, faster and more convenient transactions at the retailer, but it can also replace the cumbersome promotional campaigns the retailer is currently subscribed to. The 2D codes are created with attributes and could be created per retail product or simply per payment instance. The 2D attribute controller will keep track of loyalty paid back to subscribers, time-frame and validity of promotions and produce a detailed report. The retailer is also guaranteed their payment due to the built in safety and security of the 2D mechanism.
Ever got tired of authenticating your detail when some entity sends you and email or requires you to respond with lengthy replies? You could simply respond to a 2D code when your authentication or verification is needed. A simple menu inside an existing application, like your mobile banking application or USSD menu could be used for instance. It is easy, convenient and quick.
A typical use case for the verification feature would be Internet domain management companies or data registration companies trying to authenticate and verify the person registering. Instead of sending your sensitive information on email (where the whole world can see it) the Internet domain company could simply request a 2D code linked to the attributes of your profile like an ID number, email addresses, telephone number etc. The 2D controller then issues a simple 2D code (could be a QR code) and you simply respond to the code. The transaction will only be verified if a response to the code is performed by the entity linked to the various attributes of the code. The 2D code therefore eliminates the need to send emails for you to verify, you simply punch in a code or scan a QR code and confirm the detail. Simple, secure and fast. If you run a user registration database and you would like to make use of the 2D mechanism to keep your subscriber’s data safe and protected and to provide your subscribers with a convenient and safe mechanism to verify their data, then email us at info@2Dgroup.co and we will get back to you shortly.
A 2D controlled transaction will not only open many more opportunities in retail and digital commerce markets, but also add so much more practical value to virtually any type of digital transaction between two parties. If you require secure, verified and audited transactions between two entities then look no further. They do not come more secure or more convenient than 2D.
Some Financial Transaction Overviews
2D Merchant Video
Our existing and growing 2D enabled community