ToneTag, the leading sound-based proximity communications and payment services provider which is backed by Amazon, Mastercard and Reliance Capital has partnered with First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates (UAE).
This technology enables PayIt app users to initiate cardless and cashless payments at merchant outlets through their mobile phones. In partnership with ToneTag, FAB is offering sound wave-based proximity payment solutions to their clients across all seven Emirates of UAE.
“With ToneTag, First Abu Dhabi Bank customers can enjoy seamless payments experience without the associated hardware dependencies. With this accessible technology, we can include many into the digital financial ecosystem,” said Kumar Abhishek, CEO & Co-founder, ToneTag.
With the help PayIt app, FAB customers can make payments using sound through the PayIt app. POS (Point of Sale) terminals of FAB’s clients are now capable of receiving sound-based proximity payments with the help of ToneTag. This venture will help in delivering unparalleled convenience to customers. Using PayIt app they will be able to make payments just by clicking a button.
Till date, ToneTag has filed seven global patents while shipping its RetailPOD to the Middle East, South-East Asia, North America and some parts of Africa. Its global enterprise is closely cohering with many other financial brands such as MasterCard, Finacle, ICICI Pockets, FreeCharge, Yes Pay, Bank of Baroda, and AirTel Money.