Glossary · 19 terms
The short answer
For a self-service business, DuitNow QR is the QR code customers scan to pay from their banking or e-wallet app, and an e-wallet is a payment app on their phone. An IoT device is a small connected unit fitted to a machine, and remote activation means starting a machine over a network. At Byte Bunny Technology, we install an IoT device in each existing machine, and our servers start it once a customer has paid.
Updated
A backend system is the software behind self-service machines that the customer never sees. In general, it records the payments and the sales.
At Byte Bunny
Our backend is custom-built for different businesses according to their needs. Our vision is to provide a full backend system for entrepreneurs who wish to create their own payment system for their products.
A banking app is a bank's own mobile app. Banking apps that take part in DuitNow QR can scan a QR code and pay it, the same way an e-wallet does.
At Byte Bunny
Our how-to film for an Electrolux dryer starts with “Open our Bank apps”: a customer can pay a fitted machine from a banking app as well as from an e-wallet.
A cashless laundromat is a self-service laundromat where customers pay without notes or coins, usually by scanning a QR code with a phone instead of feeding coins or tokens into the machine. The washers and dryers still wash and dry as before; what changes is how each cycle is paid for, and a payment made this way leaves no cash in the machine to collect.
At Byte Bunny
What we sell is the concept of a cashless laundromat: see IoT device for how an existing machine is fitted.
Cashless payment is any payment made without notes or coins: by card, bank transfer, e-wallet or QR code. At a self-service machine it usually means paying from a phone.
At Byte Bunny
Our aim is to turn the self-service industry cashless (cash payment into QR payment).
A coin / token exchange machine is a self-service machine that changes notes into coins or tokens, so customers can pay machines that only take coins or tokens.
At Byte Bunny
Coin / token exchange machines are on our list of the self-service industries we provide e-payment automation for.
A coin slot is the opening on a self-service machine where coins or tokens go in; the coin box is the locked box inside the machine that holds them until someone empties it.
At Byte Bunny
A payment made by QR puts no cash into the coin box, so there is less to break in for.
Key term
DuitNow QR is a QR code payment service that PayNet describes as one QR code that lets a business accept payments from all participating banks, e-wallets and third-party providers. The customer pays by opening their preferred mobile banking or e-wallet app and scanning it; PayNet says it works through participating banks and e-wallets across Malaysia. Because one code serves many apps, a shop needs only one QR on each machine rather than a code for every app.
At Byte Bunny
At a machine we have fitted, DuitNow QR is the QR sticker on the machine that customers scan to pay the machine's price. Our washer film puts that last step as “Bayar ikut harga mesin basuh”: pay the washer's price. Sources: PayNet for businesses and PayNet for personal users.
E-payment automation is taking a payment electronically and acting on it automatically, with no attendant: the customer pays and the machine responds by itself.
At Byte Bunny
It is how we describe our work: “A tech company that specializes in e-payment automation for self service businesses.”
An e-wallet is a payment app on a phone that holds money, or links to a card or a bank account, and can pay by scanning a QR code. Under DuitNow QR, participating e-wallets and banking apps can all pay the same code, so one QR code can be paid from any participating e-wallet.
At Byte Bunny
Many e-wallet payment methods are available at a machine we have fitted, so customers are not tied to one app; our films start with “open your e-wallet app”.
An IoT (Internet of Things) device is a small connected unit that lets an ordinary machine send and receive data over the internet. Fitted inside a self-service washer, dryer or vending machine, it can receive the signal that a payment has been made and start the machine, without the machine itself being replaced.
At Byte Bunny
We install an IoT device into an owner's existing machines so each one can accept DuitNow QR payment. When a customer scans the QR and pays, our servers activate the machine.
The merchant discount rate (MDR) is the transaction fee a business pays to accept an electronic payment. Bank Negara Malaysia describes it as charged based on a percentage of the payment transaction value to cover processing costs, and PayNet says DuitNow QR fees vary by bank, e-wallet or acquirer. The customer who pays does not pay it.
At Byte Bunny
Byte Bunny merchants on our existing Fiuu payment gateway arrangement pay an agreed DuitNow QR transaction rate of 0.85%, which already includes the DuitNow QR processing charges.
PayNet is the Malaysian payments network behind DuitNow QR. Its DuitNow QR service lets a business accept payments from all participating banks, e-wallets and third-party providers with one QR code, and lets a customer pay from their preferred mobile banking or e-wallet app.
At Byte Bunny
The sticker customers scan on a machine we have fitted is a DuitNow QR: see DuitNow QR.
Plug and play describes equipment that works once it is installed and connected, without a long setup.
At Byte Bunny
Our plug and play system is built so self-service machines are easy to install.
QR code payment is paying by scanning a QR code with a phone app, which then sends the payment. At a self-service machine the code is printed on the machine, and the customer's app pays the amount the machine charges.
At Byte Bunny
This is how customers pay a machine we have fitted: open the e-wallet or banking app, scan the QR on the machine and pay the machine's price; the machine then starts.
Key term
Remote activation is starting a machine from a distance, over a network, instead of with a coin or a button at the machine. In a self-service business the start signal can come from a server once a payment has been confirmed.
At Byte Bunny
After a QR payment at a machine we have fitted, our servers start the machine (see IoT device).
A reseller or partner is a business that offers another company's product or system to its own customers.
At Byte Bunny
We invite businesses to join our network as a partner or reseller. We customize the backend and frontend systems for our partners and offer product training for a variety of self-service machines.
A self-service business is one where customers use the machines themselves, without staff at a counter: laundromats, vending machines and the like.
At Byte Bunny
Our list of self-service industries: self-service laundry, vending machines, claw / crane machines, vending massage chairs, kiddie rider machines, coin / token exchange machines, coffee machines and water dispenser machines.
Software as a service is software provided as an ongoing service rather than bought once and installed by the customer.
At Byte Bunny
We provide software as a service to laundromat owners, including owners whose machines previously took tokens or cash.
A token is a coin-like disc that starts a self-service machine in place of coins. Customers buy tokens before using a machine, from a counter or a coin / token exchange machine, usually with cash, so the cash is taken at the counter or the exchange machine, not at the washer.
At Byte Bunny
Machines that took tokens can be fitted with our IoT device to accept DuitNow QR (see IoT device).
