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Mobile Payments

ToneTag raises USD 10 mln from Amazon, Mastercard

Monday 4 June 2018 | 02:12 PM CET

ToneTag has raised USD 10 million from a group of investors led by Amazon and Mastercard.

ToneTag leverages sound wave technology to enable payments and customer engagement services on any device, independent of the instrument or infrastructure. ToneTag requires a proprietary software development kit (SDK) on the merchants’ device, such as EDC terminal or POS or phones and customers’ mobile banking or payment apps.

As part of the investment, the platform will integrate its technology with Amazon’s payment app Amazon Pay.

The platform works with partners including ICICI Bank, Yes Bank, Freecharge, Airtel, and Mastercard, among others that have integrated with ToneTag.

More: Link
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