CUSP experienced remarkable expansion, increasing from 150K to 1 million merchant outlets in just a year
India, 27th December 2023 – ToneTag, India’s leading voice-based commerce and payments solution provider, has unveiled its latest innovation, the Contextual Unified Secure Payment (CUSP) network. The ground-breaking product has rapidly propelled ToneTag to the forefront of the payment acceptance sector
CUSP is a contextual, conversational, and edge-based proximity payment infrastructure for new-age digital payments like CBDC, UPI, and contactless tokenised debit/credit cards. It helps merchant acquirers and payment aggregators to offer consistent payment acceptance for partner merchants. CUSP consists of a network layer and a payment orchestration layer. The network layer is a series of smart IOT devices very similar to soundboxes with the capability to provide unique location ID inside a store, contactless data transfer, proximity detection, and support conversational inputs. The payment orchestration layer creates an intelligent switch to choose from UPI, Hello UPI, CBDC, or contactless card as payment methods at the time of transaction. The three unique features of CUSP are that it supports secure offline data transfer to enable contactless payments, edge computing to lower dependency on hitting servers for low-value transactions, and voice computing for an enhanced voice payment experience. Experiencing remarkable growth, it has expanded from 150,000 to 1 million merchant outlets within a year. As the platform already supports the Reserve Bank of India-backed Central Bank Digital Currency (CBDC), it will soon establish itself as a transformative force in digital currency acceptance.
Kumar Abhishek, CEO and Founder of ToneTag commented on the company’s success, stating, “New age payment methods require new acceptance solutions rather than retrofitting them on existing card or payment networks. CUSP epitomizes 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. The platform transcends conventional boundaries in digital payments, and drives our success and scale.”
As ToneTag continues to pioneer advancements in the digital payment realm, CUSP stands as an emblem of advancement and inclusivity, driving financial inclusion for all. The company persists in its dedication to innovative solutions, with CUSP as evidence of its commitment to reshaping the digital payment landscape.