The topic can be confusing as everybody seems to be a cashless payment provider. Allxs is a closed loop cashless payment system which means that the client controls where the value in the system can be spent. A closed loop cashless payment system is most suitable for closed communities such as school, universities, sports clubs, events, venues and rewards programs. These systems primary function is to improve speed, safety and convenience while providing the tools to deliver a superior customer experience. How is this different from tapping a credit card or using an application such as Zapper or Snapscan? All 3 examples are different ways of doing the same thing and still require the bank processing time to authenticate every transaction. This is not ideal in high impact environments such as events or canteens where speed is essential. A closed loop payment system does not make use of a banking switch beyond the initial loading of the membership card. This enables much faster individual transactions with many additional controls. The Allxs cashless payment system gives the user the ability to set daily spending limits, dietary restrictions, low balance alerts and detailed reporting on what has been spent. So how is this different from using a bank card? A bank card terminal can tell you how much was spent at an outlet but not what was purchased. Banking partners still play an integral role in the closed loop payment ecosystem but only when money is loaded and refunded. The internal transactions happen outside of the banking system. The closed loop is controlled by the client so communities can chose to accept each others membership cards. A common example would be different schools are able to use their school card at participating schools when visiting each other for sports matches or Golf Clubs having reciprocal arrangements wit each other to extend member benefits.