Manchester-based VST Enterprises is set to unveil revolutionary unique identifier VCode at Web Summit this week.
Dubbed ‘the future of retail’ by Microsoft, this ground-breaking innovation is set to replace bar codes across the UK, in line with EU commission legislation which will come in to effect from 2017.
This completely secure identifier is set to go live on 26 November and has broad applications for ticketing, instant purchasing, banking, rewards and loyalty schemes and fraud prevention.
Louis-James Davis, CEO of VST Enterprises and tech entrepreneur, comments: “VCode has been years in development and has already had incredibly positive feedback from the select blue chip organisations we have presented it to, including KPMG, Santander and Microsoft.
“The VCode app will not only allow users to pay for goods securely, but will deliver a personalised experience from the same code, based on the user’s demographics and location.”
Unlike traditional bar codes and QR codes, VCode can be scanned from any screened media, from a distance of over 100m. The code is recognised instantaneously and as every code is truly unique, the new technology eliminates the problem of mainstream counterfeiting.
The app is compatible with all smart devices with a camera and refers users to a bespoke branded experience, resulting in further opportunities for companies to interact with consumers. From 2016 VCodes will also be scannable from all electronic point of sale machines.
Louis-James concludes: “This technology is going to have huge applications across a wide range of industries. We are already in partnership with the three main sponsors of Web Summit and therefore this is the ideal forum for us to unveil VCode.”
“We would encourage all attendees interested in finding out more to come along and meet us in the Start Hall.”
The innovative work of VST Enterprises, based in MediaCityUK, is yet another success story for Greater Manchester’s thriving financial technology sector. The region is home to a strong collection of FinTech companies from well-established businesses supporting the financial services sector to smaller firms developing novel solutions disrupting current business models.
For further information on VCode and VST Enterprises, please visit www.vstenterprises.com.