Our Company Full Story

About iBonus Limited


The iBonus team started in 2001 with Keith, Tony, and Raymond (Theophilus). We worked as a software subcontractor for Octopus Limited (Hong Kong), the world’s first multi-mode smart card fare system for public transit.

In order to ensure fast transaction time, all fare systems are using an off-line architecture. The transaction records are first stored in the fare validators and then sent to the server in a delayed manner. However, any physical damage of the fare validators may cause loss of records.


We found a secret formula to reconstruct any loss records and developed our own prepaid and fare collection system. (www.ibonus.net)


In 2007, the US Army and NATO adopted our system for their canteen application in Iraq and Afghanistan where the Internet was unavailable and our terminals were likely to be destroyed in the war zone.


In 2014, we saw the growing opportunity of mobile-based payment and fare collection market. We made a management buyout of the iBonus technologies from the previous company and registered iBonus Limited.

July 2019

In mid of 2019, we were funded by the Hong Kong Technology Fund to develop a complete mobile-based transit payment system in 18 months. This is the world’s first mobile system which can support all IOS and Android OS phones with less than 1 second transaction time. https://mobileafc.net/

March 2020

In mid-March 2020, before people talking about contact tracing apps, we have come up with the solution of using our existing system architecture to prevent asymptomatic from entering public places. With an off-line architecture, our system can easily scale up to address million of users and billions of transactions during peak usage. It can also support third world countries where the Internet is unreliable or unavailable..

The most effective way to tackle the problem is to use the smartphone app or transit smart cards and also to install dedicated terminals in public places such as a library, cinema, school, and gym to record where and when the people have visited.

When a person is reported as virus-infected by medical authorities, the system immediately puts all persons who appear in the same place at the same time as the confirmed patient in the past 14 days into an Alert list and transmits it to all terminals. The Alert list is valid from one day to fourteen days, depending on the date of contact. The terminal gives a friendly alert to potential asymptomatic when they are entering public areas.

We made big progress that Palawan of the Philippines wanted a pilot run at the end of April and also we are on the public trial list of the Hong Kong government.

April 2020

Furthermore, we have developed a mathematical formula based on our system to measure the Asymptomatic growth of COVID19 as well as the mechanism to control it.

Asymptomatic Growth = (1-Participation%) x Gathering Size x Infection Rate %

Contact Tracing App is just too simple and lacks the dimension and depth of our system to combat COVID19 and more importantly to resume the daily economic activities.