Season 2011, Episode 16: KUAPAY

Event

“Kuapay is the fastest and most secure way to pay on any store that accepts credit cards using your smart phone.” Are you convinced? Come find out this Thursday at this week’s meetup with Kuapay!

What you need to know:
Date: May 26th, 2011
Time: 7:00pm
Location: California Cafe, Las Urbinas 52, Providencia, Santiago
RSVP to: http://www.meetup.com/startupchile/events/19383351/

More about Kuapay:
What makes us different from the others?
Security – PGP sharing + AES 256

“PGP encrypting and signing technology is the securest way for the recipient of a message to verify that the sender was who he says he is without any other party to be able to access the information except the ones involved.”

This technology is commonly used by the USA Army to encrypt their messages internally. Been able to use the common Internet as a secure communication alternative.

Privacy – Host Proof Storage

Host proof storage consists in encrypting everything in the client before been sent to the server. This allows the client to be sure it’s data is not accessible by anybody else -even by the server.

It works in the same way that a security vault does. The client has the key and he stores data (credit cards data, devices information, etc.) in a black box. Without that key, anybody can open the box, even if stolen -by means, the servers hacked.

This is the key to avoid fraud, if none can access your information at anytime, no one can copy or use it.

Quick

Kuapay relies on the speed of the machines rather than in the speed of the humans. When giving cash or swiping the credit card, the human interaction makes it slower and inefficient -specially vulnerable to fraud.

The process you follow when paying with Kuapay relies on you scanning the code of your phone and the rest is done automatically -if you decide to choose different card than standard, then a selection of card time would apply.