Digital wallet and payments company FreeCharge will now allow sound-based payments with a partnership with ToneTag. Currently, customers can make payments using this feature at nearly 62 outlets of Trust Pharmacy, mall parking, NICE toll plaza and several other colleges and office parking associated as ToneTag merchants. FreeCharge added that using the ToneTag software development kit, merchants can accept sound based payments through any device including Laptop’s, PC’s, Tablets, EDC’s, mPOS, smartphones, and feature phones. This means merchants can accept sound based payments using FreeCharge on the existing infrastructure they have, at no additional cost to them. - FreeCharge customers need to click ‘Pay or Send’ in their app and select sound payment. - The merchant then needs to enter the transaction details on their device which will emit a sound signal to the customer's app as a replacement for OTP or QR code scanning for the payment process. - The authentication process takes microseconds in the background and the customer gets a Pay Now button, clicking on which completes the payment process. In addition to sound payment, customers can make the payment using On-The-Go-Pin, scanning the QR code or getting their in-app QR code scanned by the merchant. ToneTag also has a partnership with YES Bank for sound-based proximity payments on their mobile wallet YES PAY. Note that ToneTag isn’t the only company working on sound-based payments. There’s iKaaz which is working on similar products in the contactless payments space. YES Bank also had a partnership with UltraCash for sound-based…
