ToneTag – Reserve Bank of India’s recognized partner to boost UPI volumes

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Alert: ToneTag started its journey in 2013, and I remember experiencing the Joy of Safe ePayments via SoundTech around 2015-2016



The years of patience has paid off, and now ToneTag is firmly on the mainstream.

Reserve Bank of India Shri Shaktikanta Das today i.e March 8th, 2022 introduced ToneTag to the world at large’.

This introduction is expected to play a pivotal role in boosting UPI volumes without the internet.

ToneTag is one of the 4 pillars of UPI123Pay i.e

" d. Proximity Sound-based Payments: This uses sound waves to enable contactless, offline, and proximity data communication on any device."

Please note ToneTag can also be part on Non-Feature phones. Now, Non-feature phones users can execute UPI transactions without be connected to the internet.

This is a major leap of faith.

Over the years, ToneTag has tied up with numerous players to popularise its technology

Partner Examples – YES Bank, ICICI Bank, Amazon Pay, FreeCharge etc.

However, with today’s Reserve Bank of India officially making it part of the UPI123Pay, there will be lots of action on ToneTag.

This can be India’s next gift to the world on Safe ePayments.

Kudos ToneTag Team.

 

ToneTag is the winner of IDRBT’s ‘Payment & Settlement Systems Innovation Contest 2020’

The following is the citation on ToneTag by IDRBT: -

Quote

First Prize of Rs 10 Lakh: Innovation Titled "Enabling Feature Phone Payments via SoundTech" by Team ToneTag. This is a secure sound-wave communication technology platform that enables payments and proximity customer engagement services on any device, independent of the instrument or the infrastructure.

The aim is to make payments safe & frictionless, and payment experience as simple as paying by cash.

The technology is equipped to enable payments between consumers and merchants, irrespective of them being or not being connected to the internet, making it highly interoperable and highly scalable.

With ToneTag, anyone and everyone - a smartphone user or feature phone user, can make a seamless and secure digital transaction.

Unquote

For the complete list of numerous Awards won by ToneTag, drop in @ https://www.tonetag.com/about/

Additional Reading:

FreeCharge, ToneTag Partner to Bring Sound-Based Payments Feature @  https://gadgets360.com/apps/news/freecharge-tonetag-partner-to-bring-sound-based-payments-feature-1659013 Updated: 13 February 2017 18:34 IST

 

Rs 230 crore more for Amazon Pay @ https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/rs-230-crore-more-for-amazon-pay/articleshow/65017780.cms?from=mdr ET BureauLast Updated: Jul 17, 2018, 08:20 AM IST

 

Disclaimer: These are my personal views only. The bottom line is Safe ePayments. Nothing more – Nothing less

ToneTag is a company which uses encrypted sound waves to make offline, proximity-based contactless payments on any device. The company uses proprietary Software Development Kit that encodes data into sounds. These sounds are transmitted over air and can enable payments over the existing payments infrastructure. Wikipedia

Parent: Naffa Innovations Pvt. Ltd

Founded: September 2013

Headquarters: Bengaluru

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