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Revamp Mobile Payments via Sound Waves

By CIOReview | Thursday, May 19, 2016

mobile paymentsFREMONT, CA: Mphasis allies with ToneTag to transform mobile payments smoother with or without data connectivity through the sound wave technology. The strategic partnership comes up with a wide range of banking solutions for banking and commercial industries to bridge the gap between the online and offline spheres for better user experience.

Mphasis, an IT services provider, integrates its extensive banking solution with ToneTag’s Sound Wave technology to offer an additional layer of security and fraud-proofing that banking and retail clients are demanding. With a multi-layer authentication, ToneTag sound based technology enables contactless proximity communication for Mphasis’ customers for their omni-channel customer engagement and frictionless checkout solutions to benefit physical outlets, dealerships, bank branches as well as experience stores. In addition, no separate hardware is required for accepting offline mobile payments. Through this partnership, payments are accepted from millions of customers having mobile wallets and mobile banking apps securely, thereby driving mobile payment adoption.

As retailers seek to provide a seamless online shopping experience to their customers, the partnership enriches mobile payment acceptance on merchant point-of-scale device. “Using our extensive experience in banking solutions, we have developed domain specific solutions, knowledge management frameworks, and accelerators, which help customers in accelerating their digital transformation journey,” says Dinesh Venugopal, Head of BFSI and Strategic Accounts at Mphasis.