iBonus Limited Wins Praise for Breakthrough Technology Based on QR Codes for Use in Automated Fare Collection Systems

City public transportation systems face challenges on what technology can be used to run efficiently and cost-effectively. iBonus Limited seems to have solved the problem with their award-winning new technology being used in Hong Kong that delivers powerful all-around solutions.

November 10, 2019

The idea of an effective, quick and simple to use Mobile Wallet for Fare Collection is exactly what many cities and other public authorities responsible for Automated Fare Collection (AFC) dream of. The good news is that a true breakthrough has been made in this area in Hong Kong and the same technology can be applied, where needed, across the world. Enter the company iBonus Limited. iBonus Limited’s new technology allows the Mobile Wallet to be used with a one-second transaction time from nearly any iOS or Android smartphone, which covers 99% of users. In comparison, QR-code systems take five seconds to scan and NFC system cover only 90% of devices.

“We knew our technology needed to be fast, reliable and the wallet needed to be able to function on nearly every device,” commented a spokesperson from the company. “We are very pleased to have seen this be a great success and look forward to using the technology in another cities across the world disrupting the AFC space in a very positive way.”

The iBonus Limited system won Hong Kong ESS funding for their project worth $420k USD. It’s also won the Hong Kong Smart Cty Award in 2018. A patent has been filed for China/USA and PCT for the rest of the world.

Clearly, the room for the company to expand is present. Not only is the technology a superior one that delivers remarkable benefits but the AFC market itself is a stunning USD 8.15 Billion in 2018 with CAGR 13.6%.

To learn more be sure to visit https://mobileAFC.net.

Post Author: Keith Lau

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