Bizworks |Bizworks’ GT-PAY is based on a self-developed security algorithm and has a hidden code-based ordering and billing solution. It has all the advantages of PIN chip payment settlement, QR code non-face-to-face payment. It is the most realistic ordering / payment solution that fundamentally solves duplication and falsification by complementing safety.
- South Korea
- Founded 2002
Raising $ 1,000,000
Bizworks’ GT-PAY is based on a self-developed security algorithm and has a hidden code-based ordering and billing solution.
• $600,000 would be required for TV commercial, Viral and Growth hacking marketing and rest $400,000 would be spent for labor cost of new employees in development and marketing sales team in order to enable us to provide our solution to all the stores that demands it in Korea as well as South Eastern countries.
Founding StoryBizworks was founded by CEO, Mr. Joon- young, Park in 2002. He has run his business with the solution called 'GT Code' independently developed by him for 15 years. This solution enables to genuine agricultural product certification with those information such as area of production, production date embedded on the GT code's label by scanning it. But in 2016, when he once visited China, he found that QR Code which enable to make an order and payment at once in the offline store has been widely spread. And he realized using this kind of code as payment method would not be safe in terms of security, since QR code is open source which means it can be duplicated or created by anyone. As expected, he found many Chinese news articles described many different types of criminal cases to steal personal information exploiting vulnerability of QR code. To protect personal information from QR code related crimes , Mr.Park and Bizworks' development team came up with new idea that GT code label could be used for making an order and payment just like QR Code. But big difference between QR code and GT code is whether it could be created or duplicated, not like QR Code, hidden code has been embedded on label of GT code , which could be perfectly protected from label duplication or falsification. Bizworks has spent almost 6 moths to complete the development of this payment solution using GT code. During last few months, the payment solution GT code has been received attention from many major banks and other international fin-tech companies through several overseas exhibitions. Currently, Bizworks has contracted to supply GT code to Korean Franchise restaurant from March, 2018 and business discussion with Malaysian payment gateway company is in progress.
Company DescriptionBizworks Co., Ltd, with an original payment solutions technology, has received various awards in Korea, such as 2016 Grand Prize from ICT Innovation Award of Ministry of Science, 2016 Grand Prize from Sports Seoul Innovation Entrepreneurship & Brand Award and 2017 Grand Prize from Money Today.
Bizworks’ GT-PAY is based on a self-developed security algorithm and has a hidden code-based ordering and billing solution. It has all the advantages of PIN chip payment settlement, QR code non-face-to-face payment. It is the most realistic ordering / payment solution that fundamentally solves duplication and falsification by complementing safety.
Products & Services
GT Pay |
Non face-to-face order/payment that consumers scan QR codes attached on the tables with their smartphones has spread widely in China, but QR code scams tend to be increasing every day in China. Stealing the personal information of consumers has been occurred so many times by replacing legitimate QR code created by merchant with fake QR code embedded with virus programmed. The reason why this due to the open source based solution which allows anybody to create or duplicate it.
BizWorks Co., Ltd. independently developed the GT-Code that can perfectly protect from duplication or falsification with hidden code embedded on the surface of label. Furthermore, since GT code is not open source but our original technology that can’t be created or modified by others, injecting any virus program on the fake one would be impossible. Also GT Code enables to store all the history of consumers’ order and payment as block-chain.