2.4 How Payween works
As PAYWEEN, we offer a world-first solution to our users. You don't have a card with you, you don't have a phone, and you don't have cash, but you can still make your payment by following a few very simple steps. Let's go into a little more detail.
In order to use this solution, you must first be a Payween user. In addition, you must create a virtual card within the application and have a partial balance, a fingerprint defined in the system and a PIN code that only you will know beforehand.
Now let's explain the working principle of the system.
Step 1 : As a Payween user, you go to a Payween merchant. You purchase goods or services and it's time to pay. You tell the cashier that you would like a "Payween Login", the merchant will make the relevant transaction amount ready to be paid via Payween on the system. You will select your payment method after logging in with your fingerprint on the screen where you see the payment amount related to the goods or services you have purchased.
Step 2 : You will see 2 different payment options. The first option is to be paid with the balance in your Virtual Card in your Payween account, and the other is to be paid with the Credit Card you have defined in your Payween account. Before the payment you will make with Payween Virtual Card, your Virtual Card Limit will be calculated automatically with the amount you will pay on the system, and if the relevant payment amount is available on your virtual card connected to your account, a check mark will be seen showing that there is enough limit for the payment transaction through the application. There will not be any checkmark for credit cards because this process has to be asked to the card bank.
If the Payween user approves the payment with his virtual card connected to his Payween account, the system will ask the user to enter the 4- or 6-digit PIN code that the user has previously determined. If the user enters the PIN code correctly, the transaction will be approved and the relevant amount will be withdrawn from the user's account to be transferred to the account of the merchant. Thus, you will be able to successfully complete your payment transaction very easily without carrying a card, phone or cash with you.
Again, on the same system, there will be limit requests that you have made from Payween users before. Here, among the options for the payment process, there are sections where the limit defined for you through Payween, apart from your balances and your card, is available. In other words, if the Payween user wishes, he will be able to make payments from the accounts of other Payween users whose limit amounts have been predetermined and defined to his account. Let's explain it as follows;
Payween users can interact with other Payween users on the system. Among them, the Timed and Limited Limit Sharing Option is the most important feature. The Payween user will be able to see the Limits that he has requested from the other Payween user or allocated to him without requesting it, on the application. These limits can also be used easily in Payween member businesses when the person does not have a phone, credit card or cash with them. This process is not much different from a normal Payween Payment, but an important security protocol comes into play here. According to that protocol, if you choose to Pay with the Limit that comes to you as a payment method, you will need to enter an additional Verification Code for that limit. So, if you need to move forward from the beginning; First, you have limited access to your Payween account by introducing your fingerprint to terminal or tablet-like devices belonging to the merchant. Afterwards, you choose the option to pay with the Limit Card and approve it. Here, you select the Limit card and the amount of payment you will make is below the limit amount defined for you. Thus, you entered and confirmed your 4-digit verification and Limit Card access password, which was previously presented to you by the system. As the last transaction, you completed the transaction with your 4-digit PIN code that you defined in your system. And the transaction was carried out successfully. That’s all. You have now made your payment with the limit of a card belonging to someone else.