Aurora Technologies Ltd.

17 Motzkin St., P.O.Box 388
Tirat Carmel 39103, Israel
Voice: +972 4 8576982
Fax: +972 4 8576983
info@aurora.co.il

Smart (Meal) Voucher System pas - [IMG]

   

Introduction - Voucher Payment Systems

 

Smart Voucher Payments can be implemented in numerous situations, including meal vouchers
(described below), various ticketing applications including taxi and other public transportation
systems, as well as in purchased and accumulated privileges.

 

Meal vouchers (tickets) are commonly used as a means of payment for meals by working personnel
during their working hours. In many cases, companies issue meal vouchers or coupons to their
employees as an inherent part of the employee's benefit package. The cost of the vouchers may be
subsidized in part by the employer. The employee is charged for his part of the cost of the meal, and
the cost is deducted directly out of his pay check.

 

The meal vouchers are accepted by local restaurants and cafeterias and/or in catered dining rooms.
Their benefit is a regular and formal agreement with the companies, providing a constant and dependable
client base. They also benefit from an improved ability to plan inventory and work-load logistics.
To this end, they offer reduced prices as part of the agreement with the companies.

 

The use of meal vouchers is very advantageous and attractive to the employees. They benefit from access
to a diverse set of food providers and menus, reduced cost of meals and deferment of payment of their meals.

 

פס אפור - [IMG]

There are several disadvantages to the implementation of meal voucher schemes based on the
pre-printed paper tickets commonly used today. These include:

 

square - [IMG]   The real and great risk of ticket counterfeiting and duplication.


square - [IMG]   The risk of fraud and misuse of the tickets.

 

square - [IMG]  The cost of printing the tickets, securely transporting them to the companies and storing them
      securely within the companies until they are distributed to the employees.


square - [IMG]  The horrendous logistics involved in issuing the tickets, collecting used tickets from the restaurants,
      storing them, counting them, paying the restaurants, tracking and monitoring the money distribution
      from the companies to the food providers and retaining records (at the food provider level and the
      company level) of tickets issued and used.

 

square - [IMG]  Once issued to the employees, the tickets represent company debt. This implies constant monitoring
      of the tickets issued versus tickets redeemed to monitor the company debt for bookkeeping purposes.

 

square - [IMG]  Losing a ticket or book of tickets amounts to direct loss of money.

 
פס אפור - [IMG]  
 

Aurora's Smart Voucher Payment System

 

The Smart Meal Voucher (SMV) System is a cooperative venture that links food outlets (restaurants,
cafeterias, caterers, etc.), companies (in particular small and medium sized firms) and their employees
The system replaces the paper coupons and tickets, currently used, with new, high-tech and computerized
technologies that resolve all of the deficiencies of the existing schemes. In addition, the SMV system
offers considerably enhanced features and flexibilities unachievable within the existing frameworks.

  

The SMV system is based on a common need of -

 

square - [IMG]  Employers to provide accessible and affordable meals to their employees during working hours.

 

square - [IMG]  Local food providers to have a large, regular and loyal base of customers.

 

square - [IMG]  Employees to have local, diverse and affordable access to meals during working hours.

 

square - [IMG]  The common need of all to reduce overhead and logistics, increase control and accountability
     and prevent fraud.

 

 

Aurora provides a complete Electronic Voucher system solution, including database, communication
server, all back-office functionalities and POS terminal software packages.
According to client
preferences, the system can be based on smart cards, supporting an optional off-line solution, or on
magnetic cards, mandating an on-line solution.

 

food outlet - [IMG]

 

For a detailed description of the Smart Voucher System, please see the attached white paper
"Smart Meal Ticketing".

 

 

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