In the ever-evolving realm of digital financial transactions, the groundbreaking innovation of ‘pay by car’ has recently surfaced. ToneTag, a company backed by Amazon and Mastercard, has introduced a pioneering service that seamlessly integrates the Unified Payments Interface (UPI) with your vehicle’s infotainment system, heralding a new era of convenient and smartphone-independent digital payments.
The MG Hector, in collaboration with Bharat Petroleum, has taken a significant stride in demonstrating this cutting-edge technology, allowing you to make payments directly from your automobile, rendering smartphones and handheld devices unnecessary.
Here’s the operational mechanism behind ‘pay by car’: Upon arriving at a fuel station, your vehicle’s infotainment system promptly exhibits the fuel dispenser number. Concurrently, an in-car sound system alerts the attentive staff at the fuel station about your arrival. Subsequently, you input the desired fuel purchase amount through the same sound system, resulting in a secure and contactless transaction, greatly enhancing both convenience and safety.
This revolutionary technology extends beyond fuel purchases; it also enables the seamless recharge of your vehicle’s Fastag, with the current balance clearly visible on the infotainment screen, providing a comprehensive solution for your vehicular payments.
ToneTag’s journey toward this innovation traces back to its successful development of an offline voice-based payment system for any mobile device within the Reserve Bank of India’s (RBI) regulatory sandbox. The primary objective was to empower individuals who may encounter challenges with app-based payments or digital literacy, ensuring inclusivity in the digital economy.
At the recent Global Fintech Fest, ToneTag made headlines by unveiling conversational payments on UPI in collaboration with the National Payments Corporation of India (NPCI). This advancement facilitates bill payments through straightforward phone conversations, further expanding the horizons of effortless and accessible digital transactions.
Established in 2013 by Kumar Abhishek, ToneTag was also the first company to enable contactless payment acceptance on point-of-sale machines using sound, a testament to its pioneering spirit in the fintech landscape.
This remarkable ‘pay by car’ innovation signifies a monumental step toward enhancing the accessibility and ease of digital payments, ultimately ushering in a new era of financial convenience for all.
