QUASAR, our IoT payments solution, enables instant and compliant payments between devices, businesses and people. It is designed to smoothly integrate into existing financial systems.
QUASAR IoT payments are instantaneous and irreversible
Transaction fees are <€0,0001, enabling micropayments
Easy to integrate
Our solution easily integrates into your existing financial applications
QUASAR is a cost efficient private blockchain solution that connects the ‘Internet of Things’ economy with the traditional financial systems. By providing digital wallets to IoT devices, these devices can make and receive payments with minimal transaction costs and at high speeds.
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Private blockchain solutions
QUASAR is offered as a cost efficient private blockchain solution. A comprehensive set of APIs enables you to quickly integrate the QUASAR functionality into your business processes. QUASAR was launched in Q1 of 2016 and relies on the robust Stellar protocol.
Virtual private payment network
The QUASAR architecture and setup are dedicated to corporate consortia use and allow you to set up your own “virtual private payment network”. Such a network can operate as a prepaid model, as a credit card model or as a mix of these models. QUASAR’s processing rate is approximately 1.000 transactions per second and each transaction is confirmed within 5 seconds.
QUASAR does not use cryptocurrencies. Instead, digital fiat currencies like Euros or Dollars are used and connected to the fiat world via SEPA settlements; micro transactions can be aggregated and integrated into financial backend systems, including SAP FI.
IoT payments also need to comply with regulation. QUASAR has an account role model called QBIC. This role model enforces compliant transactions and avoids a washing machine is being used for money laundering.
Integration with existing financial accounting
Devices have their own digital wallets and hence are financially included into QUASAR. Through these wallets, these devices also get their own identity. QUASAR’s APIs and SDKs ensure fast and easy integration into your existing financial systems. Our processes are audited.
Secure payments with unsafe relay (SPUR)
Our patented protocol SPUR enables payments to devices that are not connected to the internet. SPUR is integrated into QUASAR.
IoT Business models and use cases
The use of sensor data collected automatically and in real-time for the innovation of business models is the focus of our service offering ‘IoT-enabled business models’.