What Are Sound Based Payments

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What are Sound-based Payments?


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


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…

What Are Sound Based Payments

Technology

Transcript of What Are Sound Based Payments