ToneTag is a Bengaluru-based mobile payment solutions firm that use sound waves (Tone) or NFC (Tag) to enable contact less experience on any device. According to the latest news, the firm is integrating beacon technology so that users can receive alerts related to attractive offers available in the vicinity.
A low-cost hardware, Beacon uses low-energy Bluetooth or wifi-enabled and battery-friendly connections to transfer messages.
Through this technology, you will receive the latest offers available in your nearby locality via messages. Likewise, if you are near a mall, then you will receive an alert through ToneTag or a ToneTag-enabled mobile wallet about the latest special offers and discounts available in the nearby mall.
Vivek Kumar Singh, Co-founder, ToneTag, said
“The idea is to locate the individual through sound technology when they are within proximity, then engage them through bi-directional communication and facilitate contactless payments through partnerships with mobile wallet providers,”
Founded in 2013 by Kumar Abhishek, ex-Infosys and Vivek Kumar Singh, co-founder with a few Angel Investors including Rajesh Yohahanna and Ram Sellaratnam, ToneTag allows contact less payment solutions by integrating its proprietary software development kit at both Customer interaction points (M-Wallet, M-Banking Apps) and Merchant (mobile,POS,EDC).
In August 2015, the startup has raised $1 Million funds from Venture fund arm of Reliance Capital which was utilized in hiring Technical and Sales & Marketing staff.