National Payments Corporation of India is currently in the process of testing sound-based payments with three companies: PhonePe, ToneTag and UltraCash.
The customer needs to be in the proximity of 15 cm from the merchant terminal.
Their startup investments number 13 so far, compared to 17 deals in 2020.
Companies are innovating with tech tools to ensure that you spend less time at the cash counter.
Companies are looking for an engaging hook, and sound is universally seen as a big emotional connector, finds Nikhat Hetavkar.