Category: NFC Technology

Sound-based mobile payments are coming to India

| February 11, 2016

ToneTag will make sound-based mobile transactions possible for Indian consumers

Consumers in India will soon be able to take advantage of the convenience of sound-based mobile payments. ToneTag, a sound-based technology startup, has been tapped by MoboMoney, a payment platform that was launched in December 2015 by Tech Mahindra, to introduce a new feature into the MoboMoney ecosystem. ToneTag has developed technology that can facilitate mobile transactions with a simple sound or through the use of NFC technology, which most modern payment platforms are based on.

MoboMoney aims to expand the accessibility of mobile commerce

MoboMoney notes that the ToneTag sound-based technology is capable of facilitating transaction even on devices that are not equipped with NFC technology. This technology is still relatively rare in India, though more NFC-enabled devices are becoming available in the country. Sound-based technology could allow more consumers to participate in the mobile commerce space, allowing them to use a wide range of devices to make purchases in physical stores. A growing number of physical stores are beginning to support mobile commerce and more consumers participating in this space may lead to success for retailers.

India continues to be a favored mobile market

mobile Payments via Sound - IndiaIndia is one of the fastest growing mobile payments markets in the world. The country is home to more than 1 billion mobile consumers, with many of these people living in rural areas. Those living in rural areas have shown particular interest in mobile commerce because it allows them to shop whenever they want and from wherever they are. MoboMoney aims to expand mobile commerce services to the full gamut of these consumers, hoping that more people will opt to make transactions via their mobile devices.

Innovative technology could help bring more people into the mobile commerce space

ToneTag has been finding success with its innovative technology. In August of last year, ToneTag rose a total of $1 million in funding. This money allowed the company to expand and perfect its services. Sound-based mobile payments have not yet become mainstream, but ToneTag’s ability to make mobile commerce more accessible to a wide range of people may change this in the coming years.

Optus releases new accessories to promote mobile payments

| February 10, 2016

Optus is entering into Australia’s mobile payments space in order to meet consumer demand

Several companies are fighting to enter into Australia’s mobile payments market, but they are finding it difficult to do so. Optus, one of the country’s largest telecommunications organizations, will be moving into the mobile payments space to fill the gap in services that exists in the market. The demand for such services has risen dramatically over the past few years, with consumers wanting to use their smartphones and tablets to purchase products online.

New accessories will give mobile devices NFC capabilities

Optus has launched a new range of accessories that can be used on its existing Cash by Optus platform. These accessories are equipped with NFC technology and will allow consumers to give their smartpones the ability to make mobile payments. Devices equipped with the accessories can be used to send and receive payments of $100 or less. Optus believes that the new accessories will enable more consumers to participate in mobile commerce.

NFC technology continues to play a major part on the mobile commerce sector

Mobile Payments - NFC TechnlogyNFC technology plays a major role in the mobile commerce space. This technology allows digital information to be sent over short distances, which is ideal for mobile transactions. The problem, however, is that consumers must have NFC-enabled mobile devices in order to make these transactions. In the past, such devices were quite rare, which slowed the adoption of mobile commerce. While NFC-enabled devices are now quite plentiful, many consumers still lack access to NFC technology, which is why the new accessories from Optus may become so useful to consumers.

Apple and Google will face significant competition when they manage to come to Australia

Apple is looking to enter into Australia’s mobile payments market, but the company has encountered resistance from some of the country’s largest banks. Google is finding less resistance, however, and intends to release its new mobile payments system in Australia at some point later this year. Both Apple and Google will have to compete with Optus, which is likely to establish a strong foothold in the mobile commerce market before other companies manage to break into the market.