Tag: nfc tech

Sound-based mobile payments are coming to India

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.

NFC technology based wallet from Samsung Pay expanding

The South Korean consumer electronics manufacturer is taking its mobile payments system into more countries.

Samsung Pay, the mobile payments system that uses NFC technology through the devices from the South Korean tech giant, will now be headed into a broader range of countries across the globe, expanding it well beyond its very limited initial release.

The mobile wallet will be available to consumers throughout a handful of additional countries worldwide.

In a recent tweet, Samsung expressed that while the NFC technology based mobile wallet is already available in the United States and South Korea, it will become available to millions of additional customers in the very near future. This is because it will be stepping into at least three new countries in the near future. The countries that have been identified, so far, include Australia, Singapore and Brazil. This will more than double the number of countries in which the service is available and will provide the company with a considerably larger opportunity to boost its user base.

Samsung followed up the expansion announcement of its NFC technology mobile wallet with more at CES 2016.

NFC Technology  - Mobile PaymentsAt the Consumer Electronics Show 2016, which was held last week in Las Vegas, Samsung also unveiled a new line of NFC enabled smartwatches which would be compatible with its Samsung Pay service. This means that people won’t be limited to smartphones when they want to use mobile devices to pay for their products and service at checkout counters across the new range of countries where it will be available.

The Gear S2 smartwatch will have the mobile technology needed to be able to be used for contactless payments at points of sale that have NFC readers. Upon the initial release of the wearable technology devices, the Samsung Pay service will still be available only in South Korea and the United States. However, as the expansion of the service occurs later in 2016, it is likely that these gadgets will be able to be used there, as well.

This represents a growing trend of wearable technology devices that are becoming compatible with mobile payments. The use of NFC technology in the Gear S2 could help to push forward the adoption of both mobile payments and wearables, simultaneously, if Samsung is as successful as it hopes to be.