ToneTag Revenue and Competitors

ToneTag is an integrated library (sdk) that allows easy, frictionless, and secure proximity payments using sound (Tone) or NFC (Tag). Depending upon user device and retail pos hardware, mobile application can toggle to initiate in-store purchases using sound or NFC.It works on any mobile device and no internet is required on user device at time of initiating payment. At present Mobile Payment Industry is missing out on a tech which can enable frictionless payment at the last mile. If we want users to pay using mobile then the whole experience of payment need to be either similar or better than card or cash payments.NFC does enable a good user experience but it has extremely low penetration roughly less than 7% globally. ToneTag fills this gap, it enables a similar user experience without the need of NFC and which work on every phone and bridge the last mile in making mobile transactions a reality for all.