Sound-based proximity communication and payments service provider ToneTag has acquired global patents from Singapore and Malaysia, adding two more countries to its list of four- the US, Japan, India and South Africa. These patents majorly cover all kinds of audio and sound communications between the devices and are set to redefine proximity engagement for customers using sound waves, eliminating the need for cash and card transactions in the future.
Out of the eight patents, ToneTag has used four to its advantage and offers three desirable solutions against the same in the market. Starting with the handy services of P2P and P2M, which allows customers to send money to people nearby without asking for their phone numbers or UPI IDs. Next is SonicCast that enables audio and video advertisements to send integrated messages with customized promotions and CTAs. The company has also developed SoundZone, a technology that provides a personalised dining experience to consumers where they can pick, order, and pay from their phones. It also allows merchants to broadcast curated customized content to their consumers and get a detailed analysis of customer behaviour.
Kumar Abhishek, Founder and CEO, ToneTag, said, “The acquisition of eight global patents is yet another milestone we have managed to achieve. It will allow us to penetrate further into the payment ecosystem and create a world of contactless voice-based payments for our customers.”
Since its inception in 2013, ToneTag has been at the forefront of a revolution in the global digital payments space, harnessing the power of sound to offer a range of financial services to its customers as well as its associates. It has created an atmosphere that motivates its researchers to break the chains of traditional thinking and incorporate modern ways to transform the future of sound and audio-based technology. This has led the company to file 15 global patents (with more in its pipeline) and satisfy 152+ million customers with its useful products.
Backed by Amazon, 3one4 capital and MasterCard, homegrown ToneTag has achieved major success in offering ‘global’ solutions, with a presence across the Middle East, South-East Asia and some parts of Africa.