IoT payments

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.

Instant payments

Compliant

Easy to integrate

In the near future, vehicles will drive autonomously and machines will engage in business with other machines. These ‘things’ are required to make and receive payments and be included in traditional financial systems.

But current payment systems are not equipped for the Internet of Things, because ‘things’ do not have a bank account or a credit card. Also, existing banking infrastructure is too expensive and unable to handle instant peer-to-peer (micro) payment transactions.

With QUASAR, our IoT payments solution, we enable corporates to create completely new business models.

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.

No cryptocurrencies

QUASAR does not use cryptocurrencies. Instead, digital fiat currencies like Euros or Dollars are used and connected to the fiat world via SEPA settlemens; micro transactions can be aggregated and integrated into financial backend systems, including SAP FI.

Compliance layer

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.

Check out our videos for more IoT inspiration and information

Want to know more about our QUASAR technology?
Download our whitepaper

QUASAR whitepaper

Let’s Make Things Happen

We have a highly experienced team that can create the solution you are looking for, so you can focus on what you do best.

Henri de Jong

Chief Business Development Officer

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