Dynamic Pricing and Secure Payment
Mega Online Certificate of Entitlement (OCOE) Auction and Payment Engine
Stratech provides Dynamic Pricing and Secure Payment systems for all applications and industries. Stratech currently operates one of the largest payment engines in the world – the Online Certificate of Entitlement (OCOE) Open Bidding System.
The OCOE system is deployed in Singapore to regulate vehicle registration. It provides a greater degree of transparency to the open bidding exercise by offering all bidders equal and better access to information during the bidding process to enable them to make informed decisions on the bid amounts. Bidders can submit their bids at any time during the bidding exercise, monitor the current bid prices, and revise their bids if necessary.
Stratech’s Dynamic Pricing and Secure Payment can be mirrored in other countries to help regulate the number of cars and hence reduce traffic congestion on the roads. Other applications include vehicle licence plate bidding, residential housing and commercial office bidding, travel document bidding, air travel bidding, club membership bidding, etc.
- Informative – real-time, fair, transparent and competitive bidding
- Pervasive – multi-channel interfaces to ATMs, Internet/Intranet, phone banking
- Interactive – concurrent bids, revisions and enquiries by different users
- Scalability – large distributed user-base of 50,000 bids per bidding exercise
- Secure – high-value electronic transactions (payment/refund) via bank account
- Robust – high-volume performance with peak transaction of 20,000 bids per 5 minutes
- Availability – mission-critical design with no single point of failure