Hi Idrees, Thank you for facilitating the challenge! Let's use gas station use case. A "smart car" provides Geo location of the car, smart gas station syncs with car upon close-proximity. Both "devices" do some sort of technology hand shake by recognizing each other with encrypted authentication. Car and gas station owner still authorize, approve/deny the transaction. Everything happens in real-time. Utilization of AI and real time payments along with many other technologies. Unlike the credit card transaction that can cost huge processing fees for the merchants (gas stations, drive through services). Real-time payment is a NEW payment system
Bank / Credit union should be alerted upon any a car arriving in their parking lot by reading the license plate. Just like the tool companies take picture of every car going through their tools. If they go to drive through the Teller should be prepared in advance and customer information being available to them immediately without entering customer account numbers. If a customer walks in from the main entrance, we’ll use the face recognition and alert the teller who’s in the branch. Both use case will provide efficiency for the banks/credit unions. Alert them in advance of “bad characters” entering their facility. Reduction in fraud. Since you were only interested in these two “ideas” I try to elaborate on them. Perhaps we can talk over the phone better. If you like to give me a call 586.292.7453
FYI – First idea I presented the actual QCheque. It’s already in the process of pilot testing with two small financial institutions here in southeast Michigan.