EXTO INDIA TECHNOLOGY PRIVATE LIMITED

In their own words

Exto is a digital payment solution with a vision of digitizing cash with the highest possible security. Our primary aim is to provide an Inter-operable Offline payment solution (no internet / mobile network required) using various form factors like bio-metric enabled cards, wearables, wallets etc. We utilize distributed ledger technology and multiple form factors to offer a comprehensive agnostic (mobile & non-mobile) payment solution. Our solution provides universal access to smartphone or non-smartphone users, secure offline transactions, recovery of lost funds, fraud prevention, and user-controlled cryptographically secured digital ID. The system also enables agent-based onboarding/KYC, cash-in/out and access to banking services. Exto Card and App wallets enable users with a full range of online and offline payments very securely. Users can also use agent Exto Card/App wallets and access their account using ExtoID verifiable credentials issued when they were onboarded, enabling users without full-featured Exto Card or App wallets. The ExtoPay system is designed to resolve the double-spending problem in a long-lag offline model via a unique patent-pending system. Several security measures are used to protect offline value against counterfeit card attacks, including Time-limited Authorizations, Blocklists, and the ExtoID Photo of the authorized user. The system addresses the recovery of funds using recovery wallets controlled by the payment service provider. Exto had secured the runner-up position in RBI HaRBInger under the “Innovative, easy to use, Non- Mobile Digital Payment Solution” category.

Written by the company on its public Startup India profile. Not verified by us.