While working for a traditional bank in Singapore, India native Kumar Abhishek started to

question why India’s financial sector wasn’t offering similar products as Singapore’s.

The more involved he became with traditional banking, the more he realized how many functional

problems existed. This led him to start a new and innovation financial technology firm known as

ToneTag, an online payment authentication service that uses sound waves for both payments

and security.

ToneTag uses encrypted sound waves to send payment information securely and quickly to

retailer’s POS devices. Once received by the device, it is re-encrypted three times for extra

security. ToneTag’s system can be integrated into numerous other platforms, including digital

wallets, other payment platforms, iOS, Android, Windows and Linux. It can be integrated

directly into mobile apps as well and does not require an internet connection in order to

function properly.

Although ToneTag has received a lot of attention as an emerging fintech company, it has yet to

receive a patent approval for its technology. Abhishek has a leg up in the fintech game because

of his previous experience in the banking industry. In fact, one of his primary goals was to offer services that traditional banks were slow to adopt and implement. So far, ToneTag has raised a

little over $1 million in capital raising rounds, partnered with 14 other financial service

providers in South East Asia, Europe and the Middle East, and has close to 80 million customers

through its partnerships.