WinstantPay adds contact tracing with CovidKYC on the wallet and KYC platforms
WinstantPay adds contact tracing with CovidKYC on the wallet and KYC platformsCOVID-19 has changed most peoples’ lives, forcing governments around the world to introduce policies to mitigate the risks of potentially severe outbreaks. One of those means is the back tracing of contacts of infected persons. According to the american Center for Disease Control and Prevention (CDC): Contact tracing is key to slowing the spread of COVID-19 and helps protect you, your family, and your community(1).
WinstantPay is committed to delivering tools to our community and we developed CovidKYC, a contact tracing module, which enables all users to stay compliant with local regulations, while maintaining a maximum of privacy.
The feature has now been rolled out in production of our applications, including Trade Enabler, WinstantPay direct, WorldKYC.
The following section describes how the contact tracing works for both, the business and consumers.
Business JourneyMerchants and other businesses, such as restaurants, can now do some brand marketing by pre-producing the QR codes for customers to check-in. In one go the customer can collect loyalty points when paying with WinstantPay and comply with contact tracing regulations in the easiest means. The business owner is the custodian of the customer’s data, which can be removed at any time after the required data retention period (e.g. two weeks) automatically.
If the business owner is also an employer that data can serve as a time attendance system.
Consumer JourneyEase of use is the key for consumers is the key to acceptance, especially for small merchants. If the consumer forgets to checkout, the merchant can check them out, improving data quality. In present solutions the data is often incorrect as consumers forget to check-out, leaving the business owner without means to correct.
Herve Lacorne, Chief Innovation Officer of WinstantPay commented “We are always excited to find synergies between our technology offering and real-life challenges beyond fintech contributing to a faster ‘back to normal’ supporting small, medium enterprises.”
(1) Source: https://www.cdc.gov/coronavirus/2019-ncov/daily-life-coping/contact-tracing.html
WinstantPay is a global payment network providing merchants and individuals a reasonably priced global final payment in an instant, in any currency, anywhere, anytime, with integrated anti-money laundering (AML) compliance that reduces time, costs, risks associated with payments. Serving financial institutions of all sizes for the last 18 years with financial services, software development, and business support, WinstantPay is also a founding member of WorldKYC-AML.
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