ToneTag is a mobile payments solution company Bengaluru-based that uses a patented Software Development Kit (SDK) that needs only a speaker and a microphone to transfer data. “It can utilise the in-built mic or speaker of any device to enable data transfer through soundwaves and hence it supports most existing devices such as PCS, POS, EDC devices and mobile phones including feature phones and wearables.” The SDK has also features like noise filters, three-level encryption, tokenisation, cryptography, and multi-factor authentication, to ensure security.
The partnership focuses on allowing “sound-based contactless payments on the YES Pay mobile wallet”, a bank’s representative said. The technology will enable wallet users to make cardless payments at merchants through their mobile phone without the usage of data.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now