First Abu Dhabi Bank ties up with ToneTag for sound based payments

PUNE: Sound-based payment services provider ToneTag has tied up with First Abu Dhabi Bank, the largest bank in the UAE to deploy sound based contactless payments. ToneTag is backed by Amazon, Mastercard and Reliance Capital.

FAB customers can pay using sound through the PayIt app. This technology allows PayIt app users to make cardless and cashless payments at merchant outlets from their mobile phones. With ToneTag, FAB is offering sound wave-based proximity payment solutions to their clients across all seven Emirates of UAE.

Kumar Abhishek, CEO, ToneTag said, “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.”

With ToneTag, POS (Point of Sale) terminals of FAB’s clients are now capable of accepting sound-based proximity payments. This integration will deliver unparalleled convenience to customers using PayIt app with just a click of a button. The company has deployed its retailPOD in the Middle East, South East Asia, North America and parts of Africa. It also works closely with companies like MasterCard, Finacle, ICICI Pockets, FreeCharge, Yes Pay, Bank of Baroda, and AirTel Money.