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After Paytm, ToneTag launches payments via toll-free number

Payments solution provider ToneTag has introduced mobile payments services hosted via toll free number 1800 3010 1887. This allows non-internet users and feature phone users to send and receive money by means of an IVR-based service. Users will first have to register their debit card or bank account number on the call. Registration is only a one-step process. This means that ToneTag’s IVR service will associate you’re bank a/c or debit card number with your phone number once registered. (Shashi adds: We're not entirely sure if this is allowed. But we will check and get back to you. The company has a partnership with YES Bank for sound-based proximity payments on their mobile wallet YES PAY.) Users can make payments only to other ToneTag registered users by entering the receiver’s phone number. The transaction will be same as an online card transaction, where the customer will need to enter his/her card details and OTP received on his registered mobile number, a spokesperson from the company told MediaNama. Yesterday Paytm announced a similar toll-free banking service wherein user could dial 1800 1800 1234 make payments to any Paytm customer. Users are required to first generate a four digit PIN on the call. After a user enters recipient’s mobile number, amount to be paid, and PIN, cash is transferred from their Paytm wallet to the receiver’s Paytm wallet. Users will however need to load money either through Paytm website, mobile app or at their 2,00,000 cash-in points across the country. Currently ToneTag offers contactless payments solution…

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