3 ms·
Amazon-backed startup makes digital payment possible without Internet
- ricardobeat 7y agoI have so many questions after reading this. What is this “sticker” that they provide for PoS integration? > The six-year-old startup earns revenue by charging a license fee for its product from payment instrument issuers. From merchants, it charges a fee on every transaction. The firm is currently at a pre-revenue stage. So... do they have any revenue or not? I’ll take it as a no. > over 3,20,00 merchants across the country have adopted the ToneTag technology Okay. The technology is pretty interesting. Many years ago I wrote a JS implementation for Chirp which used a similar audio protocol. For payments especially, though, it seems dead on the water: there is no user experience advantage at all over NFC, Bluetooth (and now UWB), and even a $10 phone has Bluetooth these days.
- rafael859 7y agoI don't really get how this works. Since it is completely offline, what's stopping someone from paying some amount, but not subtracting it from their account? I guess each party could sync the transactions when they get back online, but this seems messy.