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|Industry||Fintech and retail applications|
|Kumar Abhishek (CEO)|
|Parent||Naffa Innovations Pvt. Ltd.|
ToneTag is a company which uses encrypted sound waves to make offline, proximity-based contactless payments on any device. The company uses proprietary Software Development Kit (SDK) that encodes data into sounds. These sounds are transmitted over air and can enable payments over the existing payments infrastructure.
ToneTag was established in September 2013 by founder and current CEO Kumar Abhishek. Together with co-founder Vivek Singh they started a research project on how to enable small payments through the mobile.The research was followed by experimentation with various alternate payment technologies. In September 2017, Infosys partnered with ToneTag to enable contactless payments applications.
Electronic funds transfer at point of sale is an electronic payment system involving electronic funds transfers based on the use of payment cards, such as debit or credit cards, at payment terminals located at points of sale. EFTPOS technology originated in the United States in 1981 and was adopted by other countries. In Australia and New Zealand, it is also the brand name of a specific system used for such payments; these systems are mainly country-specific and do not interconnect.
Radio-frequency identification (RFID) uses electromagnetic fields to automatically identify and track tags attached to objects. An RFID system consists of a tiny radio transponder, a radio receiver and transmitter. When triggered by an electromagnetic interrogation pulse from a nearby RFID reader device, the tag transmits digital data, usually an identifying inventory number, back to the reader. This number can be used to track inventory goods.
Mobile payment generally refer to payment services operated under financial regulation and performed from or via a mobile device. Instead of paying with cash, cheque, or credit cards, a consumer can use a mobile to pay for a wide range of services and digital or hard goods. Although the concept of using non-coin-based currency systems has a long history, it is only in the 21st century that the technology to support such systems has become widely available.
Infosys Limited is an Indian multinational information technology company that provides business consulting, information technology and outsourcing services. The company is headquartered in Bangalore. Infosys is the second-largest Indian IT company after Tata Consultancy Services by 2020 revenue figures and the 602nd largest public company in the world according to Forbes Global 2000 ranking. On 31 December 2020, its market capitalisation was $71.92 billion. The credit rating of the company is A−.
Near-Field Communication (NFC) is a set of communication protocols for communication between two electronic devices over a distance of 4 cm or less. NFC offers a low-speed connection with simple setup that can be used to bootstrap more-capable wireless connections.
Verifone is an American multinational corporation headquartered in Coral Springs, Florida, that provides technology for electronic payment transactions and value-added services at the point-of-sale. Verifone sells merchant-operated, consumer-facing and self-service payment systems to the financial, retail, hospitality, petroleum, government and healthcare industries. The company's products consist of POS electronic payment devices that run its own operating systems, security and encryption software, and certified payment software, and that are designed for both consumer-facing and unattended environments.
Gemalto was an international digital security company providing software applications, secure personal devices such as smart cards and tokens, and managed services. Formed in June 2006 by the merger of two companies, Axalto and Gemplus International. Gemalto N.V.'s revenue in 2018 was €2.969 billion.
Network for Electronic Transfers or more commonly known as NETS; is a Singaporean electronic payment service provider founded in 1985 by a consortium of local banks to establish the debit network and drive the adoption of electronic payments in Singapore. It is owned by DBS Bank, OCBC Bank and United Overseas Bank (UOB).
Contactless payment systems are credit cards and debit cards, key fobs, smart cards, or other devices, including smartphones and other mobile devices, that use radio-frequency identification (RFID) or near field communication for making secure payments. The embedded integrated circuit chip and antenna enable consumers to wave their card, fob, or handheld device over a reader at the point of sale terminal. Contactless payments are made in close physical proximity, unlike other types of mobile payments which use broad-area cellular or WiFi networks and do not involve close physical proximity.
A payment processor is some sort of transactor for financial calculations, technically an invertible currency exchange appointed by a merchant to handle transactions from various channels such as credit cards and debit cards for merchant acquiring banks. They are usually broken down into two types: front-end and back-end.
Fortumo is an Estonian company which develops a platform for digital service providers for user growth and monetization.
The National Payments Corporation of India is an umbrella organisation for operating retail payments and settlement systems under the ownership of Reserve Bank of India in India.
Payoneer is an American financial services company that provides online money transfer, digital payment services and provides customers with working capital.
Host card emulation (HCE) is the software architecture that provides exact virtual representation of various electronic identity cards using only software. Prior to the HCE architecture, near field communication (NFC) transactions were mainly carried out using secure elements.
Perforce, legally Perforce Software, Inc., is an American developer of software used for developing and running applications, including version control software, web-based repository management, developer collaboration, application lifecycle management, web application servers, debugging tools and Agile planning software.
Contactless smart cards are being progressively introduced to replace paper ticketing on the buses of Britain. The first large scale adoption for transit in Britain has been the Transport for London Oyster card. This uses a proprietary encoding developed by Cubic Transportation Systems.
Bitwala is a blockchain banking service, headquartered in Berlin, Germany that was founded by Jörg von Minckwitz, Jan Goslicki, and Benjamin P. Jones in October 2015.
WaveNet is a deep neural network for generating raw audio. It was created by researchers at London-based artificial intelligence firm DeepMind. The technique, outlined in a paper in September 2016, is able to generate relatively realistic-sounding human-like voices by directly modelling waveforms using a neural network method trained with recordings of real speech. Tests with US English and Mandarin reportedly showed that the system outperforms Google's best existing text-to-speech (TTS) systems, although as of 2016 its text-to-speech synthesis still was less convincing than actual human speech. WaveNet's ability to generate raw waveforms means that it can model any kind of audio, including music.
Contactless dining is a restaurant dine-in experience that allows a guest to view the menu, place orders, and make payments without interacting closely with a server or touching shared public surfaces. The form of dining has emerged in global popularity during the COVID-19 pandemic.