To support the Centre's digital cashless economy initiative, ToneTag, a sound-based proximity communication provider, today introduced mobile payment facility on feature phones. "This launch of an open platform to enable feature phone users to access the benefits of a cashless digital economy is being driven by our PM's vision, driving financial inclusion for 70 per cent of Indian phone users," Manipal Group Vice Chairman and ToneTag Investor Mohan Das Pai told reporters here. The technology enables anyone with a standard phone to make cashless payments seamlessly without having to download an app or worrying about internet connectivity. "I think ToneTag sound-based technology will enable consumers in small towns to go cashless with minimal digital literacy. This will also be a boon in rural India where there is a huge need for accessible and easy to use digital payments to replace cash usage," DigitalIndiaFoundation Co-Founder Arvind Gupta said. Though certain technologies such as USSD can be used totransfer funds between feature phones, the solution is not frictionless and there is a steep learning curve to perform these transactions which has affected adoption in India, Pai said. With this technology, even small town and rural consumers will become part of digital payment eco-system by just dialingToneTag toll free number 180030101887, Pai said. "We are proud to be able to deploy our technology to support the national agenda for financial inclusion and cashless payments," he added. (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
ToneTag, the Indian sound-based proximity communication provider, has added mobile payments to feature phones. The technology allows users to make payments by phone without requiring an app or internet connectivity. Manipal Group Vice Chairman and ToneTag investor Mohan Das Pai said, "ToneTag sound-based technology will enable consumers in small towns to go cashless with minimal digital literacy." In India, there are over 100 million people who don't have access to a bank account because of lack of banking infrastructure.