Infosys Partners With ToneTag

'We are already doing 10 billion UPI transactions a month which is way more than the digital transactions in the US and Europe combined (for a month),' said Abhishek

It supports secure offline data transfer to enable contactless payments, and voice computing for voice payment experience, among other features

Kumar Abhishek, founder & CEO of Bengaluru-based ToneTag, saw opportunities in this payments space way back in 2012

EdgeVerve Systems, the financial product unit of Infosys, the information technology major, is tapping into expertise of Indian start-ups to step up its digital offering as part of its Finacle platform to financial service customers globally. In September, the company (a fully owned subsidiary of Infosys) firmed two partnerships with local start-ups to take their solutions to customers globally. On Friday, it said it would take near-field communications, payments and location-based services of ToneTag, a Bengaluru start-up that is backed by former Infosys director T V Mohandas Pai, to its customers as part of Finacle. ToneTag also counts among its investors Facebook Product director Anand Chandrasekaran; co-founder of i-Flex Solutions Deepak Ghasias; and former Wipro chief executive T K Kurien. Last week, Infosys Finacle joined hands with Ratan Tata's Unilazer Venture-backed Niki.ai to build a joint solution and provide a "smart-purchasing chatbot by using natural language ...

Joint solution that will leverage the latter's sound wave technology to enable proximity payments and interactions.