When we transact with cash, we do not share our credentials. We do not give one another a credit-card number, a phone number, an email address or any other identification. We can leave cash behind on a table and walk away to pay for a restaurant meal. We can put cash in an envelope and send it to whoever we would like. We can give cash to anyone.

Additionally, on the infrastructure side, whereas credit cards cost money to process, cash is accepted at no extra cost to the merchant. There is also no processing fee imposed on the payer by the receiver. There is generally zero risk associated with accepting it. Credit and debit cards come with a fee associated with some level of risk and some cost of processing the payment.

It is actually more secure. Not only is the Vaiu code generated on the fly which means it cannot be reused, but you can also specify that the code only be used for a certain transaction, for example, from a particular merchant.

Vaiu™ is cash. But you may be wondering, “why not use banknotes?” Banknotes are physical; too physical. They cost a lot to create, store, transport, secure, count, and to get. When was the last time you went to an ATM because you had to get banknotes? Did you enjoy the experience?

Additionally, banknotes are not useful for e-commerce transactions. In person, you may not always have cash on hand, may not want to stop by the ATM or simply not want to carry banknotes around. Furthermore, merchants discourage cash as it slows down the payments process during peak periods (looking for change, making change) and merchants need additional provisions to manage cash.