fbpx

We pledge our tech against Coronavirus: 8 ways to fight the disease

More and more people are being reported as infected with the COVID-19 virus which causes the Coronavirus Disease. As many communities all across the world are being challenged by this epidemic we, as citizens of the world need to stay united and ask ourselves: what can we do to help?

This is the exact question we’ve asked ourselves. Can our work fight against this epidemic? Can we use tech against Coronavirus?

The answer is yes, we can. We are already a company dedicated to supporting local communities. Now we pledge our technology and support to any community affected about the Coronavirus outbreak. No strings or costs attached.

Photo credit by CDC on Unsplash

Here’s how we can help:

1. Use cashless and contactless payments to avoid spread of the Coronavirus disease through cash

The most common way for coronaviruses to spread is through person to person transmission. You can check details here . Don’t forget when getting your news – always trust verified sources, especially on health issues.

However, Covid-19 can survive on different types of inanimate objects for up to 9 days, as estimated by a March 2020 study published in the journal of Hospital Infection. This, in turn, allows inanimate surfaces such as money to become sources of infection.

Our contactless technology has been developed for usage in closed loop environments such as events, venues and hospitality resorts. This means places and areas where many, many people congregate.

How can you use this tech against Coronavirus? You can use Oveit Pay to allow cashless and contactless payments in areas that are not yet accustomed to these new means of payments, thus reducing potential dangerous interactions.

Contactless payments tech against coronavirus
Contactless payments tech for everyone

If you want to reduce the exchange of currency in your community, thus reducing infection chances, we are here to help. Do reach out. We are ready to help without any cost.

2. Access control to quarantined areas

Oveit was designed to manage access to very large events or venues. Therefore it is built for speed, reliability and flexibility.

Access control tech against covid-19 virus

How can you use this tech against Coronavirus? Quickly set up an access management system to quarantined communities.

The system can operate either using NFC cards (the same technology used in contactless payment cards) or biometric facial features, if you need a higher level of security and less contact.

While we are not experts in the field we assume that just as with all large gatherings, you will need different access rights and roles. This can be easily set up for let’s say medical professionals, logistics personnel or general public.

3. Use tech to manage patient history and tracking in improvised treatment spaces

Given its mild symptoms, longer incubation and high infectivity rate, Coronavirus infections tend to spread very fast. This leaves public health facilities stretched and new treatment areas have to be added fast. With high stress and lacking sleep medical professionals need technological help to maintain patient data and trace-ability.

Our system is based on an infrastructure of managing visitors access, interactions history and journey. It is also built to run anywhere, in the cloud, with mobile interfaces.

NFC wristbands tech against Coronavirus infections
Medical NFC wristband for patient tracking and history

How can you use this tech against Coronavirus? Deploy the patient tracking and history system anywhere, without complicated hardware and software setup.

All that’s needed is NFC wristbands which can be shipped fast, mobile devices which are probably already available to anyone and an internet connection.

We can also help you connect the collected data to external, more specialized health management systems.

4. Tech against Coronavirus: rationing for goods, services, medical supplies and fuel

We’ve developed a system where any person that joins a specific group (whether it is an event, venue or community) can get access to specific items. We call these things add-ons.

The add-ons can be fixed (let’s say everyone gets a certain quantity of food) or it can be changed according to needs.

Let’s say everyone is entitled to the same amount of goods such as food or water but some specific cases need a bit more medical supplies.

US Gas stamps
US gas stamps for the 1973 oil crisis. They were printed but never used.

In times of crisis or disaster relief, the community used to issue specific tokens, such as the 1973 oil crisis stamps (see right).

How can you use this tech against Coronavirus effects? Access to the rationing can be done as previously mentioned via cards, wristbands or biometric usage. It can also be built into citizen apps where they can track usage, remaining ratios and more.

Historically the issuing of such tokens used to be cumbersome as it entitled certain logistics that were hard to manage, such as printing, shipping, distribution, managing identities and more. Now everything is digital and can be used in an instant.

5. Edge economies for communities that don’t have access to internet

All of the above are fine and all but sometimes crisis bring down core infrastructure such as electricity or internet.

Our technology is used in places that are usually unreliable, have a high technological stress and where deployment has to be done fast and securely and people are sometimes under the influence of unknown substances. Namely: festivals and large venues.

We’ve developed a system where areas that are either not connected to the internet or have unstable internet connections can have a local economy based on local hardware. They will hold a distributed ledger of value, transactions and allow monetary and value exchange until core infrastructure is restored.

We packed this into a hardware-software product we call the Edge Box and it looks like this:

Edge technology for affected communities
The Oveit Box helps communities that are disconnected from the internet and need a local way of managing value transactions. We think they’re especially useful in crisis situations and during festivals.

How can you use this tech to fight against Coronavirus caused outages? Using the Edge Box we can help you set up edge payments in your community that can operate as independent value exchange media for your citizens, local businesses and allow life to continue until life returns to normal.

Why is it called edge? Because it operates at the edge of the cloud.

6. Build a local economy that can operate even if disconnected from the outside world

In times of need communities tend to create economies naturally but they are usually unsustainable because of the usual underground distribution and analogue means of trading.

We think that in such extreme cases the community can still operate like a closed economy where specific actors in the economy can exchange with one another. Basically businesses can be onboarded and citizens can access their goods via virtual payment tokens that can be purchased either with traditional currency or with government issued credits.

Basically this shrinks the overall concepts of the open economy (the one we are all accustomed to) and offers it to a local community.

How can you use this tech against Coronavirus caused economic distress? This will allow the natural flow of goods, money and services that exist in that economy to operate in a quasi-normal way, all while being digitally connected to the financial system (bank, card payments and such)

7. Setup time banks

As Investopedia notes “Time banking is a system of bartering various services for one another using labor-time as a unit of account […]. Labor-time units can be credited to a person’s account in the time bank and redeemed for services from other members of the time bank. Time banking can be considered a form of community currency.”

This idea has been around for quite some time but it hasn’t really gained much traction outside of small communities. The reason? Scalability and safety issues when managing these types of ledgers.

How can you use this tech against Coronavirus caused economic problems? In closed environments such as a quarantined community, this can work as a very good exchange medium. Imagine the bakery providing bread and its value being accounted by the time being spent to manufacture the bread. The currency, time, can be exchanged afterwards into goods from other local sources.

Here’s a brief video describing the concept:

In quarantined communities exposed to Covid-19 work becomes a problem. Large gatherings are stopped and the trading of basic goods can move in the underground economy, cause supply issues and increase criminal activity.

8. Enable crypto payments to ensure economic continuity

This doesn’t necessarily affect the communities infected with Covid-19 but in times of crisis the financial system can be overwhelmed. For example in the case of the Yes Bank bankruptcy in India the cash withdrawals have been blocked.

In troubled financial systems such as Venezuela’s ecosystem, even very large institutions such as the Central bank and largest gas company are contemplating switching to Bitcoin as means of payments. The failure of financial policies has left the country unable to manage financial flow and has lead to civil unrest.

In extreme cases pandemics can bring the economy to its knees. In such cases the social structures are overburdened by existing efforts in disease containment. The disease is treated as an war effort and everything outside of it becomes second. Cryptocurrencies can work as stable coins in times of high economic stress and alleviate stress on governmental structures.

If you think these solutions can work for your community, we are very happy to help and we are always on the call to offer advice, help or our pledged services.

And again – this pledge means using our solution is free for any community affected by the COVID-19 virus and any help requested is confidential and on a need to know basis.

Stay safe!

Closed-loop vs Open-loop payments for festivals

There is no doubt that implementing a fast and secure payment solution is essential for the success of your festival. The existing payment alternatives in today’s world can create long-standing debates among event professionals. To avoid contradictions, the available resources enable festival organizers to identify the solution that most suits their needs.

Adopting a closed-loop payment system for you festival gives you access to live reports, after-event data, faster transaction processing, pre-event revenue, offline transactions, lower payments processing fees and tailored experiences (rewarding your loyal customers).

Let’s understand the big picture and identify general characteristics of closed-loop and open-loop payments for now.

General characteristics of closed-loop and open-loop models

Closed-loop payments – think of closed-loop payments as a solution that works in a defined economy. Gift cards provided by companies have a payment mechanism that allows clients to use them solely at participating locations. That’s an example of a closed-loop economy. As the administrator of such economy, you can establish to a certain extent who is using it and where it is used. It allows users to pre-load funds into a digital wallet, linked to a payment device such as a card or wristband. Although, remaining funds can’t be spent outside the defined economy, consumers can withdraw the remaining balance. In a closed-loop environment, banks or other institutions are not part of the transaction process. As an administrator, you have access to customer information and purchase behavior.

Open-loop payments – the open-loop system is connected to banks or other similar institutions that act as intermediaries. It can’t be controlled by a single entity and it allows consumers to pay at different locations approved by the card issuer. This payment model allows clients to withdraw funds from an ATM (extra fee involved) and to make purchases at stores or online. Businesses that use the open-loop model don’t have access to customer information, because intermediaries (banks or other institutions) own it.

Now that you better understand how these models work, the focus will shift towards the closed-loop model and its applicability for a festival or event.

Pre-event revenue

To maximize the efficiency of a closed-loop system and increase your festival revenue, choose a solution that allows participants to add funds in advance. This way, attendees can buy their favorite beverage and food from the moment of entry, eliminating the need of visiting a top-up station on site. As an organizer, this enables you to cover your festival costs by using the pre-top-up funds strategically. Participants that choose to top-up their virtual accounts online won’t have to worry if their balance has fallen under a certain amount. The ‘Auto top-up’ feature takes care of that. The end user App developed by Oveit can easily achieve that.

Reward your loyal attendees

In the open-loop environment, rewarding your loyal customers based on purchase behavior is very unlikely. As previously mentioned, banks or other institutions are the absolute owners of transaction history and customer information.

On the contrary, a closed-loop model doesn’t involve any intermediaries in the payment process. As a festival organizer, you can be the administrator of a closed-loop economy and create multiple sub-economies with Oveit. On top of that, you can collect information from your attendees and use it to offer better experiences. For a festival, attendees can redeem rewards using an NFC wristband or card. By doing that, you can identify individual preferences and surprise your clients with personalized rewards and experiences.

Transaction speed

For a large festival, the transaction speed is vital. The open-loop system requires the bank to approve every transaction and it can take about 7-8 seconds to process. Imagine how would that work for a festival with 100,000 attendees.

On the other side, transactions take 1-2 seconds to complete in a closed loop environment. Without any intermediaries involved in the payment process, waiting time is reduced, resulting in more sales and satisfied customers.

Offline transactions

Processing offline transactions in the open-loop environment is risky and often not possible. Festivals usually take place in fields or other remote locations. Setting up a stable internet connection is definitely not an easy task to accomplish.

The closed-loop payment alternative enables organizers to process sales on-site without an internet connection. Participants can top-up their digital wallets and vendors can charge for food, drinks and merchandise. The only downside of operating offline is that reports won’t update in real time. Oveit is a hybrid solution and if internet goes down, the party goes on!

Insights into vendor sales

The closed-loop payment solution available on Oveit is much appreciated by festival vendors. Each vendor has a dedicated account with access to detailed reports. Applying different filters enables them to see all products sold within a date and time range.

Running out of the most requested products is a thing of the past with Oveit!

OveitPay product report

Confex 2020. Introducing our Economy as a Service Software

For the last 37 years, event professionals from all over the world meet up in London for International Confex, Each February brands, agencies, event planners, and suppliers share their ideas on how to transform events into unforgettable experiences, making it UK’s leading attraction for event profs. In 2020 we will be back at Confex to discuss with event planners and entertainment venues managers how to kickstart their local economy. Yes, the event or venue can (and should) be seen as a local economy…inside a local community. Better said…the Economy as a Service software.

The economic impact festival and events have over small communities is critical – but so it’s the way event professionals manage payments inside (and outside!) of the site of the event. Because it’s time to push the event economy outside it’s geographical “borders”.

We’ll be over at L24C stand. We have some great gifts but also some new ideas on how to:

  • Increase your revenue.
  • Speed-up transactions.
  • Onboard new vendors.
  • Have detailed live reports. Data is the new oil and we believe that event industry professionals are not using this to its full potential.
  • Decrease fraud. And losses. And bad experiences.
  • Better use your staff. Team members should concentrate on what really matters, technology can take care of the repetitive tasks.

But most of all we want to talk about how the event’s economy can exceed the event’s area. How can the community benefit from it more, all while the event itself benefits from the community’s involvement? All using a mobile-first app that allows you to set up your own local economy.

Cashless payments and loyalty programs in hospitality & tourism

In today’s world, cash is not a preferred method of paying for goods and services. More and more businesses around the world have decided to eliminate the need of dealing with cash. There are other innovative payment alternatives, replacing the old-fashioned way of paying with cash. The hospitality and tourism industry is no different from the vast majority of businesses that adopt cashless payment alternatives. Travelers don’t feel comfortable when carrying cash during their holidays. Businesses that are part of this industry and not only, will transform usual customers into loyal ones, will increase sales, and improve the overall user experience considerably, if they switch to a cashless payment alternative.

Cashless payments and loyalty programs in resorts and hotels

Businesses that are part of the hospitality and tourism environment need to differentiate themselves from their competitors. It is an extremely competitive market, where customers have a variety of options to choose from. For a hotel, it is not enough to only provide bed & breakfast. Guests expect tailored and unique experiences. What if I told you that a simple key card can take on many roles, transforming your regular guests into loyal ones? Let’s take the example of a hotel chain, with several locations around the world. The majority of hotels and resorts, provide their guests with key cards for room access only. However, those cards can be used as: payment, entrance to specific areas, bonus, and loyalty cards in any participating location, therefore creating an ecosystem. Besides these great features, you will have access to qualified data that can be used strategically.

Among companies using incentives, 79% of them report a success rate and achieve the established goals . In the case of hotels and resorts, rewarding guests accordingly is very important. The reward is based on different aspects, such as number of bookings, amount spent within the hotel, referrals and not only. An easy way to make all this information available is by creating an ecosystem, therefore enabling to differentiate between gold and silver members for example. 

Supporting local businesses by partnering up with hotels and resorts

Hotels and resorts might choose to partner up with different businesses and contribute to the local economy. Depending on the purpose of your trip, the likelihood of willing to explore the surroundings are very high. For this reason, partnerships with local restaurants, cafes, shops, museums have a positive impact on the customer purchase experience. One creative way to achieve this, is to integrate the internal payment system of a hotel or resort with its partners. Guests will have the option to pay with their key card at partner locations, therefore expanding the ecosystem. Since all transactions are recorded, external vendors have access to relevant reports. They will be able to reward their loyal customers on their behalf.

The cashless payments solution that Oveit has put into place can easily achieve the above mentioned for any hospitality and tourism business. There might be times when internet is not available in every location that uses our system. We thought about this scenario and came up with a solution for it. Our technology has the capacity of working both online and offline, meaning that whenever internet goes down, the customer experience and the recorded data won’t be affected at all. We bet that you are asking yourself how we achieved that, but we invite you to find out for yourself!

7 reasons why you should use a cashless payments solution for events

I am a huge fan of the cashless payments solution, there’s no secret here. Today I would like to list 7 of the most important benefits of using one for your events.

picture showing Oveit's cashless payment solution used at an event
1. The cashless payments solution increases your revenue

As the cash habit fades away, customers tend to increase their spending limit. Reports show that attendees tend to spend up to 30% more at events where a cashless payment system is in place. They love to buy, but they just don’t like the long queues that make them lose all the fun. Which takes us to reason #2.

2. It speeds up transactions


The tap and pay system is, by far, the fastest way to process transactions. According to American Express, cashless payments are 63% faster than cash transactions and 53% faster than classic debit/credit card transactions. Each transaction can be processed in under 5 seconds, a mid-sized cashless payment set-up allowing you to process over 20 transactions/second.

3.Detailed live reports

The cashless payment system gives you live access to real-time data. It’s 100% transparent, allowing you and your partners to see live how much money attendees are spending (and how). It also allows you to create “cohort reports” and segment your attendees based on their spending habits (and combine those reports to any demographic data you have collected).

4. Fraud and losses become a thing of the past

With a cashless payment system in place, fraud becomes almost impossible. Not handling cash or tokens will make it impossible for someone to steal the vendor’s income or the attendees’ money. Human errors may still appear, but with an easy to use cashless payment system, they are highly unlikely and easy to correct.

5.Multiple revenue streams

Using smart NFC tags for payments allows you to also use them for attendee engagement and experiential marketing. The event ticket is paired to the tag (that can be stored into the event wristband, card, or badge) and allows attendees to interact by a simple tap of the hand. It can also be used for smart screens and gamification, converting your event into one fun ecosystem. And sponsors are always attracted to new ideas for attendee engagement.

6. Less staff needed for access control

The event wristband can also store your attendees’ access credentials. Permissions can be checked by a simple tap to an NFC receiver, allowing you to delegate your team members to more important tasks. It’s also faster than traditional scanning, allowing attendees to move to different sections of your festival without having to wait in endless queues.

7. Increased overall attendee experience

I have saved it for last but in my opinion, this is the most important benefit of using a cashless payment system. The speed and safety that it adds to your event will make the whole experience unforgettable. Not having to carry your wallet, being able to purchase a beer without having to wait for ages, allowing you to use your wristband to claim perks, those are all benefits that we all crave for.

Why use our cashless payments solution?

What differentiates us? With Oveit you can set up a cashless payment solution without the need for expensive hardware. We have developed a mobile app that transforms your mobile phone into a powerful and easy to use POS. No need for special scanners or NFC devices; add credit and record purchases using just day to day mobile phones.
Another reason why you should definitely use or solution is that it works both online and offline. And because it does not require a special set-up it can be used in any location you wish. Like a remote island or the top of a mountain.

Contact us for more info.