By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
BeFirsTrankBeFirsTrank
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Reading: MoboMoney Partners ToneTag for Contactless Payments Using Sound
Share
Aa
Aa
BeFirsTrankBeFirsTrank
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Search
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Have an existing account? Sign In
Follow US
© 2023 BeFirsTrank News Network
Future

MoboMoney Partners ToneTag for Contactless Payments Using Sound

srijita
Last updated: 2016/02/09 at 6:08 AM
By srijita 2 Min Read
Share
SHARE
MoboMoney Partners ToneTag for Contactless Payments Using Sound

Tech Mahindra announced its tie-up with Bengaluru-based contactless payments solution provider ToneTag on Thursday.

ToneTag’s patented technology will be integrated into the MoboMoney mobile application, its commercial NFC-enabled digital wallet, and made available to Android users on Google Play, the company said.

ToneTag’s software development kit (SDK) allows offline, contactless and secure payments using sound as well as NFC, depending upon the user device and retail PoS hardware. It thus enables payments on any device such as smartphones, EDC machines, POS (point of sale) devices, and feature phones, according to the company.

ToneTag integrates with the existing payment ecosystem by integrating its proprietary software development kit at merchant and customer interaction points. Its solution reduces transaction time to approximately 2.5 seconds, and enables contactless payments on any device, including feature phones, without needing a data connection, a company spokesperson said.

The consumer initiates the payment and the merchant accepts, leading to data transfer using audible or inaudible sound frequencies. The solution requires no dependencies on any specific platform. and can also facilitate peer-to-peer money transfer between two mobile devices.

ToneTag estimates that around 1.2 million merchants are using PoS terminals, which can start accepting offline payments using its technology with just a software upgrade. It has partnered with 14 customers, which includes banks, mobile wallets, and payment service providers in India, South East Asia, Europe, and Middle East.

Tech Mahindra had launched its NFC-based MoboMoney wallet in December 2015, which allows customers to load money in their wallet through its retail network. The wallet can be used to make over the counter payments, mobile recharges, bill payments, as well as transact online.

[“source-gadgets.ndtv”]

You Might Also Like

Model Education Loans, Credit Guarantee Fund Scheme: Know Details Here

It’s a long, excruciating wait for a new car; cancellations are up, buyer sentiment down

Man Shot In Face For Resisting Robbery In Delhi, Hospitalised: Police

Mercedes-Benz Vision EQXX Achieved 1000 Km Drive Range Using Bridgestone’s Hyper-Efficient Tyres

An Automated Reception Management System can save you money

TAGGED: Contactless, for, MoboMoney, Partners, Payments, Sound, ToneTag, Using
srijita February 9, 2016
Share
Previous Article LinkedIn Reports Strong Results on Hiring Software; Posts Weak Forecast
Next Article Brands Need to Make Online Mobile Shopping Easier: Facebook

Calendar

September 2023
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930  
« Jun    

Latest Trending News

  • Step by Step in Selling Your Car Online June 19, 2023
  • Why Use BMW Km Stopper? April 28, 2023
  • Strategies to Attract Qualified Truck Drivers and Retain Them Long-Term March 28, 2023
  • Rent a McLaren for Your Next Luxury Trip March 2, 2023
  • Qualities of Handicap Vehicles For Sale December 10, 2022
  • Characteristics of Electric Road Bikes October 13, 2022
  • The Advantages of Digital Marketing October 12, 2022

© 2023 Befirstrank News Network. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?