Post on 12-Apr-2017
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What are Sound-based Payments?
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Introduction:Sound Based Payments
Enables contactless payments through
sound waves.
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There’s no dependence on any
specific platform.
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Individuals can exchange data between devices with
an easy touch or tap on their device.
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Functions on short-range high frequency technology of Near Field Communications (NFC).
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Enables payments on various devices such as smartphones, feature phones, card swipe machines and POS devices.
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Card EmulationNFC-enabled devices act like smart proximity cards and assist in performing transactions like payments and ticketing
RFID TagNFC-enabled devices can read information stored in a RFID tag that are embedded in smart posters and labels.
Peer- to - Peer ConnectionPeer-to-peer connection of two NFC-enabled devices enables information exchange between the same.
Applications:
Sound Based Payments• With no additional hardware requirements to use NFC technology, this enables a wider and inclusive ecosystem.
• Not only used for sound- based payments, but is advantageous for business interactions too- in the sales funnel, between products and individuals, in business networking and interaction and in internal communication.
• In addition to merchant payments, this technology can facilitate P2P money transfer between two mobile devices. The consumer initiates the payment and the merchant accepts, leading to data transfer using audible or inaudible sound frequencies.
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Secured Method of Transfer
Easily Customizable
Collection of Customer Data
Polished Customer Experience
Economic Implementation
Effortless Transactions
Simplify Business Transactions
Benefits:
Sound Based Payments
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NFC technology helps in getting relevant information quickly, thereby concluding the whole process faster, with no room for error. It establishes secure channels and encrypts sensitive information like credit card numbers. NFC allows businesses to gather apt customer data easily. With this information, businesses can understand their customers better.
In conclusion…