fairCASH - the first true digital cash solution

In its general meaning, a coupon or voucher (both terms will be used herein as synonyms) is a document that can be exchanged for a financial discount when purchasing a product or service. It is in no way a ticket, which is a proof of payment (receipt) in the fairCASH environment.

fairCASH offers the minting/issuing of coupons in form of restricted eCoins, which can freely be exchanged at the issuing eMint against unrestricted eCoins carrying monetary value. Manufacturers of goods and/or suppliers of services may use this offering everywhere on marketplaces e.g. retail and/or Internet stores as a (direct) marketing instrument (e.g. as part of sales promotions and/or loyalty schemes).

In the fairCASH world eCoins and vouchers are differentiated through the application of enacted restrictions; the purchaser of this fairCASH couponing service can specify restrictions to be applied for his vouchers in his order before the eMint starts minting these coupons:

  • limit their transferability to (mostly) only one single hop,
  • personalize them to a group of individuals,
  • specify their denomination (monetary value),
  • design their graphical size, color or shape to be displayed electronically,
  • qualify their usage period to be valid for the intended lifecycle.

An exemplary lifecycle of a fairCASH voucher can be conceived in the following way:

  1. A travel agent orders a defined lot of coupons from the eMint and specifies them according to his needs, restrictions, quantity, currency and other characteristics.
  2. The eMint delivers the digital voucher product (in a protected form electronically) to the travel agent.
  3. The customers receive coupons from their travel agent for the services booked.
  4. The customers transfer them to the service supplier in exchange for a price discount or for direct compensation/usage.
  5. The holders forward them to the eMint and receive the monetary value as eCoins directly into their eWallets.
  6. The eMint deducts the payment for the collected vouchers from the prepaid balance from the travel agent.
  7. Uncollected coupons do not deserve a payment.
  8. After the end of coupon validity the eMint recompenses the value of all uncollected vouchers back to the travel agent.

The benefit of these vouchers within the fairCASH system to users: They are able to acquire them by eMail only without the need to own a personal eWallet. To collect the monetary value of the coupon, however, they’ll first have to acquire ownership of an eWallet as a premise.

This treatment of digital vouchers is highly efficient and offers superior effective­ness to partners looking for new techniques of direct advertising.

fairCASH includes vouchers as separate service to interested customers.