ToneTag provides soundwave-based technology that enables contactless payments on any device, allowing merchants to accept transactions without the need for internet connectivity. This solution addresses the need for secure, versatile payment options while minimizing fraud risk through three-layered encryption.
Funding
$8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
AFounders
Product
Problem
Many merchants, especially in regions with limited internet access, face challenges in accepting digital payments due to the reliance on network connectivity. Traditional Point of Sale (PoS) systems can be expensive and complex to implement, hindering financial inclusion and business growth.
Solution
ToneTag provides a soundwave-based payment technology that enables contactless transactions on any device, even without internet connectivity. The technology uses audio signals to transmit payment information between devices, allowing merchants to accept payments using existing infrastructure like smartphones or basic feature phones. ToneTag offers a suite of solutions, including the Oyeti smart store app, which allows merchants to manage online orders, WhatsApp marketing, and other business functions. The platform also supports voice-assisted ordering and payments, creating a fully contactless shopping experience. ToneTag's technology incorporates three-layered encryption to minimize fraud risk and ensure secure transactions.
Target Audience
The primary target audience includes small and medium-sized merchants, retailers in areas with limited internet connectivity, and businesses seeking affordable and versatile payment solutions.
Features
- Soundwave-based payment technology for offline transactions
- Oyeti smart store app for online order management and marketing
- Voice-assisted ordering and payment capabilities
- Compatibility with existing devices, including smartphones and feature phones
- Three-layered encryption for secure transactions
- RetailPod for modernizing existing PoS systems
- DynamicPod for interactive advertising and customer engagement