Tag: india

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.

New report predicts changes to the Indian mobile commerce space

| February 8, 2016

Mobile commerce in India may see major changes in 2016

Beaconstac has released a new report concerning the developments that may occur in India’s mobile commerce space throughout 2016. The report highlights the impact that the country’s financial technology startups are likely to have on the growing sector. Notably, these startups can enable much more than payments with their technology, giving consumers better services that can make their lives more convenient. Demand for such services is growing among Indian consumers, as more people are beginning to base their daily lives on mobile technology.

Financial technology is beginning to make the lives of Indian consumers more convenient

The report shows that financial technology startups are beginning to introduce convenient services that allow consumers to call for taxi rides, order movie tickets, and pay their utility bills all through simple mobile applications. These startups are also making mobile wallets more widely available. Consumers can use these digital wallets to store financial information, making the process of mobile payments even more convenient. The availability of such services and wallets will likely encourage more consumers to participate in mobile commerce this year.

Hyperlocal mobile commerce is gaining momentum throughout India

Mobile Commerce - Mobile Tech ReportBeaconstac’s report also predicts that the mobile commerce ecosystem is becoming “hyperlocal.” This refers to information and services that are oriented around a well-define community. Hyperlocal mobile commerce services are designed to connect consumers with retailers and other businesses within their immediate area. Companies interested in connecting with mobile consumers will need to find ways to engage their defined community, offering services and products that align with the needs of potential customers.

Businesses are beginning to use new technology to provide better services to consumers interested in mobile commerce

With changes being introduced in the mobile commerce sector, companies involved in this space are likely to see significant reorganization in the coming months. Companies are feeling the need to better adapt to the changing interests of consumers and this may come in the form of using new technology and better marketing strategies to connect with mobile-centric consumers.