Cashless Systems

A closed-loop cashless system is a private payment ecosystem where prepaid cards or wristbands can only be used within a specific event or environment (e.g., a festival, school, or theme park).

Key Characteristics:

• Internal Use Only: Cards/wristbands are not linked to banks or external networks.
• Secure & Controlled: Only authorized merchants and terminals can accept payments.
• Eliminates Cash Handling: No need for vendors to deal with cash.
• No Transaction Fees.
• Trackable Transactions: Full audit trail of every transaction.

1. Customer arrives at the events
2. Proceeds to Cashier Booth
3. Pays cash to load desired amount
4. Receives a Card or Wristband with stored value
5. Uses the card to make purchases at any participating merchants

• Visitors proceed to Cashier Booths equipped with Admin devices.
• Pay cash to top-up the desired amount.
• Amount is stored directly on the card or wristband via NFC.
• No personal details or registration needed.

• At the end of the visit, users can return to cashier to request a refund.
• Refunds are processed only at designated booths.
• Card balance is read and refunded in cash.
• Cards can be kept as souvenirs or reused if system is implemented in future events.

Note: Refund support is optional and can be enabled or disabled based on event policy.

• Each card issued is encrypted using iBonus’s proprietary encryption method.
• Cards include a quota or license that verifies authenticity and prevents unauthorized use.
• Offline Validation: No need for internet to verify cards.
• Anti-Cloning: Cards are protected against duplication.
• System enforces one-time issuance, unique transaction tracking, and card-blocking if necessary.

• The iBonus Cashless System uses MIFARE cards.
• Features a more secure 3-way authentication mechanism.
• Includes a one-way transaction counter to prevent tampering.
• Key diversification is based on the transaction counter, protecting against replay attacks.
• 3DES (Triple DES) encryption is applied to all data.
• All encryption and validation are performed securely with Crypto-grade authentication.
• The iBonus Engine Backend is hosted on Microsoft Azure Cloud, ensuring enterprise-grade reliability, uptime, and global security compliance.

Note: Internet is only required during data synchronization for reporting on the web portal.

• Real-time or batch syncing available
• Daily reconciliation reports for event organizers
• Reports include:
• Total sales per device
• Sales per merchant
• Card usage summaries
• Refund and balance tracking (if required)

ACASEA will handle:

• System configuration
• Staff training for cashiers and merchants
• 24/7 Technical support with dedicated support.

AutoFare Collection, A closed-loop cashless system is a private payment ecosystem where prepaid cards or transport passes can only be used within a specific transit network (e.g., buses, metro, ferries, or company shuttles).

Key Characteristics:

• Internal Use Only: Cards/passes are valid only within the transportation network and are not linked to banks or external payment systems.
• Secure & Controlled: Only authorized terminals and gates within the transport system can accept and validate payments.
• Eliminates Cash Handling: No need for drivers or staff to manage cash, reducing errors and security risks.
• No Transaction Fees: All fare payments remain within the system without bank or third-party charges.
• Trackable Transactions: Provides a complete audit trail of every ride and fare collection for accurate reporting and analysis.

1. Passenger arrives at the station/terminal
2. Proceeds to the Ticketing/Top-up Booth or Kiosk
3. Pays cash or uses online payment to load the desired amount
4. Receives a Transport Card/Pass with stored value
5. Uses the card to tap at gates or validators to pay for rides across buses, metro, or ferries

• Passengers proceed to Ticketing Counters, Kiosks, or Authorized Agents equipped with admin devices.
• Pay cash or use digital payment methods to top up the desired amount.
• Stored value is written directly onto the transport card via NFC.
• No personal details or registration are required (unless linked to a commuter account).

• Each card issued is encrypted using iBonus’s proprietary encryption method.
• Cards include a quota or license that verifies authenticity and prevents unauthorized use.
• Offline Validation: No need for internet to verify cards.
• Anti-Cloning: Cards are protected against duplication.
• System enforces one-time issuance, unique transaction tracking, and card-blocking if necessary.

• The iBonus Cashless System uses MIFARE Ultralight C cards.
• Ultralight C features a more secure 3-way authentication mechanism.
• Ultralight C includes a one-way transaction counter to prevent tampering.
• Key diversification is based on the transaction counter, protecting against replay attacks.
• We use ACS ACOS6 SAM Card to perform all cryptographic operations.
• 3DES (Triple DES) encryption is applied to all data.
• SAM Card can perform all cryptographic operations required for card authentication and transaction security.
• If Sunmi V3mix devices support SAM slots, the SAM card will be utilized to perform high-security cryptographic operations.
• All encryption and validation are performed securely with Crypto-grade authentication.
• The iBonus Engine Backend is hosted on Microsoft Azure Cloud, ensuring enterprise-grade reliability, uptime, and global security compliance.

Note: Internet is only required during data synchronization for reporting on the web portal.

• Real-time or batch syncing of transactions available
• Daily reconciliation reports for transport operators
• Reports include:
  • Total fare collections per device (validators, gates, or POS)
  • Collections per route or vehicle (bus, metro line, ferry, etc.)
  • Card usage summaries (taps, rides, transfers)

ACASEA Will Handle:

• System Configuration: End-to-end setup and customization of the AFC solution to match operational needs.
• Staff Training: Comprehensive training for cashiers, station staff, and operators to ensure smooth adoption.
• 24/7 Technical Support: Dedicated support team available round-the-clock to resolve issues and ensure uninterrupted service.