 "ToneTag Co-founder and CEO Kumar Abhishek")
ToneTag, a voice-based commerce and payments solution provider, on Wednesday announced the launch of the Contextual Unified Secure Payment (CUSP) network.
CUSP is a contextual, conversational, and edge-based proximity payment infrastructure for digital payments like central bank digital currency (CBDC), Unified Payments Interface (UPI), and contactless tokenised debit or credit cards, the company said.
It supports secure offline data transfer to enable contactless payments, and voice computing for voice payment experience, among other features.
ToneTag said CUSP consists of a network layer and a payment orchestration layer.
The network layer is a series of smart Internet-of-Things (IoT) devices similar to soundboxes which are capable of providing unique location ID inside a store, contactless data transfer, proximity detection, and support conversational inputs.
Whereas, the payment orchestration layer creates a switch to choose between different payment methods such as UPI, Hello UPI, CBDC, or contactless card at the time of transaction.
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"New age payment methods require new acceptance solutions rather than retrofitting them on existing card or payment networks. CUSP epitomises our commitment to redefining the digital payment experience. Our emphasis on innovation, security, and inclusivity keeps us from bringing transformative solutions, and we take pride in leading the way in the digital payment acceptance sector,” said Kumar Abhishek, CEO and founder, ToneTag.
The company claims to have a suite of technology which includes features like data transfer using soundwaves for proximity data transfer, an acoustic analyzer to examine audible and inaudible sounds to determine a user’s immediate location, and an acoustic marker that places an audio identity to a user’s voice or machines.
