ToneTag
- Company typePrivate
- Founded2013
- HeadquartersBangalore, India
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
ToneTag firmographics
Firmographics- Name
- ToneTag
- Legal name
- Naffa Innovations Private Limited
- Website
- https://tonetag.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
ToneTag industry classification
Industry- Product category
- Digital Payments Technology
- NAICS
- All Other Telecommunications (517810), Telephone Apparatus Manufacturing (33421)
- SIC
- Communications Equipment, Nec (3669)
- akta.pro primary industry
- On-Device Speech & Audio AI (wake word, ASR, enhancement) (HDAAAJAF)
- akta.pro secondary industries
- Voice Security, Fraud Prevention & Authentication (STIR/SHAKEN, anti-spam) (HDAIAHAL), Contact Center Speech AI (agent assist, IVR automation) (HDAAAFAL)
Keywords
Where ToneTag is headquartered
LocationHeadquarters
- HQ city
- Bangalore
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
ToneTag business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel
Revenue model
- Transaction Fees: ToneTag processes payments across its network and earns transaction fees. The company processes over 25-35 million transactions daily with monthly transaction value exceeding $3 billion. Revenue is generated as a percentage of transaction volume processed through proximity payments, voice payments, and IoT device payments.
- Hardware Device Sales: Sale of proprietary payment hardware including RetailPod 2.0, RetailPod 3.0, and DynamicPod 2.0 devices. These multi-functional devices integrate payment acceptance, inventory management, customer engagement, and analytics. Hardware is sold directly to merchants and through channel partners.
- SDK Licensing: Licensing of ToneTag SDK and APIs to developers and partners for embedding sound-based payment and proximity communication technology into their products and platforms. Revenue generated from integration fees and per-transaction royalties.
- Enterprise Solutions: Custom enterprise deployments and white-label solutions for banks, payment networks, automotive OEMs, and large retail chains. Includes integration services, terminal management systems, and ongoing support for deployment at scale.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Enterprise/Bank Deployments - Custom pricing for large-scale deployments |
| One time/ perpetual license | Pay-as-you-go | SMB Merchant Hardware - RetailPod and DynamicPod devices |
| Hybrid | Monthly | Developer SDK - Integration access for partners and developers |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels6 records
ToneTag product offering
Product offeringCore offering
ToneTag develops and sells a proprietary sound-based proximity communication protocol that transmits encrypted payment data between devices using audio signals, eliminating the need for internet connectivity, Bluetooth, NFC chips, or additional specialized hardware. The company offers three core protocol layers—Proximity Payments, Agentic AI Payments, and IoT Payments—alongside supporting products including VoiceSe (voice-based UPI), Oyeti (offline commerce platform), SonicEngage (interactive advertising), payment hardware devices (RetailPod and DynamicPod), and a device-agnostic SDK for third-party integration.
Product overview
ToneTag is an AI-powered digital payments company offering a multi-faceted portfolio of sound-based payment and commerce solutions. Its core technology is the ToneTag Protocol — a multi-directional exchange protocol that adds an audio communication layer to complement NFC and QR, enabling proximity-based, contactless payments via sound waves. The product portfolio comprises three core protocol layers: (1) Proximity Payments (sound-based proximity payment protocol for retail, transit, QSR, and IoT devices), (2) Agentic AI Payments (voice-first AI-powered transaction completion via voice assistants and chatbots), and (3) IoT Payments (edge-powered on-device payment processing for smart devices). Supporting these core protocols are sub-products including VoiceSe (RBI-guided voice-based UPI platform for feature phones, in partnership with NSDL Payment Bank and NPCI), Oyeti (offline commerce digitalization platform enabling queueless/cashier-less experiences via WhatsApp), SonicEngage (interactive advertising platform for radio/TV/OTT using sound-based technology), and Pay With Voice (voice assistant payment integration with Audio OTP authentication). ToneTag also offers a hardware line including RetailPod 2.0 and 3.0 (AI-enabled payment acceptance devices with dual displays, voice commands, and UPI/CBDC/NFC support) and DynamicPod 2.0 (compact payment device with built-in advertising screen). The ecosystem is tied together by the ToneTag SDK, enabling third-party developers and OEMs to embed sound-based payment and engagement capabilities into any device or application.
Differentiator
Problem solved
Functional benefit
Brands
- Oyeti: A product by ToneTag for digitalizing offline commerce, enabling queueless and cashier-less experiences for merchants through WhatsApp-based ordering and payments.
- VoiceSe
- SonicEngage
- RetailPod
- DynamicPod
Products and services
- Proximity Payments ToneTag's plug-and-play proximity protocol that enables end users to make payments by being in close proximity to a payment terminal. The system detects user intent, proximity, and context to trigger secure, contactless payment experiences using sound-based technology. It integrates into existing systems with minimal effort and is deployed across retail, transit, QSR, mobility, and smart device touchpoints to reduce wait times and minimize abandoned transactions.
- Agentic AI Payments A new class of AI-powered payments where voice assistants and chatbots not only assist users with information but also complete transactions on their behalf. Powered by ToneTag's protocol, payment interfaces identify user intent through behavior, context, and past interactions, enabling proactive transactions across channels. Use cases include Smart Billing Bots, Conversational Payments, and Autonomous Checkouts. The platform offers white-label capability, omnichannel enablement across apps, devices, and IVR, and supports loyalty programs, bill payments, and booking.
- IoT Payments ToneTag's plug-and-play edge solutions that enable businesses to roll out multi-channel payments on any smart IoT device, including cars, kiosks, vending machines, wearables, and EV charging stations. Transactions are authenticated, processed, and completed locally on the device, supporting offline operation and reducing cloud load. It keeps payment data local with on-device authentication and encryption while enabling faster time-to-market deployment.
- VoiceSe India's voice-based UPI payment system developed under RBI guidance in partnership with NSDL Payment Bank and NPCI. Accessible from any phone (feature or smartphone) without internet connectivity, it supports peer transfers, merchant payments, bill payments (LPG, electricity), and postpaid recharge via voice commands. Payment-to-merchant is proximity-based and works on any POS, mobile phone, or payment acceptance device.
- Oyeti A ToneTag product for digitalizing offline commerce, enabling queueless and cashier-less experiences for merchants. Features include Order Ahead (food ordering via WhatsApp with in-app payment), queueless grocery shopping where customers place items and leave and automated WhatsApp invoices are sent, cashier-less checkout, and real-time customer notifications. Used by merchants like Food Palace and Flying Kombucha in Bengaluru.
- SonicEngage
Quantifiable outcome
- Processes over 35 million transactions daily with monthly transaction value exceeding $3 billion
- +3 more outcomes
Companies that use ToneTag
Customer profileNamed customers3 records
Segments6 records
Ideal customer profiles5 records
ToneTag technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability8 records
Feature8 records
ToneTag partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered flagship and core.
- NSDL Payment BankflagshipPartnership under RBI guidance for VoiceSe voice-based UPI platform. Enables customers to perform banking transactions using voice commands from any phone type, including basic feature phones, without internet connectivity.
- NPCI (National Payments Corporation of India)flagshipStrategic partnership with NPCI for VoiceSe platform development under RBI guidance. Enables voice-based payments leveraging India's Unified Payment Interface infrastructure for feature phone users.
- VisacorePayment network integration enabling Visa card acceptance through ToneTag's proximity payment and IoT payment devices. Part of ToneTag's multi-network payment protocol supporting major card networks.
- MastercardcorePayment network integration enabling Mastercard acceptance through ToneTag's sound-based proximity payment technology and payment hardware devices.
- RuPaycoreIndian domestic payment network integration enabling RuPay card acceptance through ToneTag proximity payment solutions and RetailPod/DynamicPod hardware.
- Major BankscorePartnerships with leading banks for deployment of ToneTag payment devices and integration of proximity payment capabilities into banking infrastructure. Over 150,000 RetailPod devices deployed through bank partnerships.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
ToneTag competitors and assessment
Company assessmentDirect peers
- LISNR: LISNR uses ultrasonic data-over-sound technology for proximity-based authentication and payments, the closest direct analog to ToneTag's sound-based proximity payment protocol. Both companies transmit data via audio waves for secure, hardware-light transactions.
- Chirp: Chirp pioneered data-over-sound technology for short-range device communication, sharing ToneTag's foundational acoustic data transfer approach. While Chirp focuses more broadly on connectivity, its protocol architecture directly overlaps with ToneTag's proximity communication layer.
- Pine Labs: Pine Labs is a leading POS and merchant payment solutions provider in India and Southeast Asia, directly competing with ToneTag's RetailPod and DynamicPod hardware line for enterprise retail and QSR deployments with multi-network payment acceptance.
- Mswipe: Mswipe is an Indian mobile POS and smart payment terminal provider targeting SMB merchants, overlapping with ToneTag's RetailPod SMB hardware channel and UPI/card acceptance offerings across Indian retail.
- BharatPe: BharatPe provides UPI-based merchant payment solutions and POS devices in India, competing head-on with ToneTag's proximity payment and SMB merchant hardware targeting the same offline retail ecosystem.
Emerging players
- Razorpay: Razorpay is a leading Indian payment gateway and merchant services platform expanding into POS and omnichannel payments, partially overlapping with ToneTag's enterprise payment infrastructure and API-first GTM motion.
- Uniphore: Uniphore is an Indian conversational AI platform with deep enterprise penetration in banking and customer service, directly comparable to ToneTag's Agentic AI Payments and Pay With Voice capabilities for voice-driven transactions.
- SoundHound: SoundHound is a voice AI platform with expanding commerce and payments capabilities through voice assistants, comparable to ToneTag's Agentic AI Payments and Pay With Voice solutions targeting in-car and IoT conversational commerce.
Broad incumbents
- PhonePe: PhonePe is the dominant UPI payment platform in India with hundreds of millions of users, representing both a critical distribution channel partner and the largest competitive incumbent in ToneTag's primary UPI ecosystem.
- Paytm: Paytm operates a broad digital payments, wallet, POS, and banking stack in India, encompassing payment acceptance hardware, UPI, and consumer payment apps that overlap with most of ToneTag's product portfolio.
Market position
Strengths5 records
Weaknesses3 records
Competitive moat5 records
Key highlights7 records
Customer concentration
ToneTag social profiles
Digital presenceToneTag financial estimates
Financial estimateRevenue estimate
Valuation estimate
ToneTag leadership team
Management profileNumber of profiles
Profiles9 records
ToneTag funding detail
Funding detailFunding overview
Funding rounds7 records
Investors10 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ToneTag M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ToneTag
What does ToneTag do?
ToneTag develops and sells a proprietary sound-based proximity communication protocol that transmits encrypted payment data between devices using audio signals, eliminating the need for internet connectivity, Bluetooth, NFC chips, or additional specialized hardware. The company offers three core protocol layers—Proximity Payments, Agentic AI Payments, and IoT Payments—alongside supporting products including VoiceSe (voice-based UPI), Oyeti (offline commerce platform), SonicEngage (interactive advertising), payment hardware devices (RetailPod and DynamicPod), and a device-agnostic SDK for third-party integration.
Is ToneTag a public or private company?
ToneTag is a private company. It is classified as venture growth investor backed and is currently operating.
When was ToneTag founded?
ToneTag was founded in 2013. It employs 11 to 50 people.
Where is ToneTag based?
ToneTag is headquartered in Bangalore, India, in the Asia region.
How does ToneTag make money?
Four revenue lines are on record. Transaction Fees are the primary driver. The others are hardware Device Sales, SDK Licensing and enterprise Solutions.
Who are ToneTag's main competitors?
Direct peers on record are LISNR, Chirp, Pine Labs, Mswipe and BharatPe. Emerging players are Razorpay, Uniphore and SoundHound. Broad incumbents are PhonePe and Paytm.
Does ToneTag have an API?
Yes. ToneTag offers SDKs and APIs for developers to embed its sound-based payment and engagement technology into hardware devices and applications. The SDK enables embedding ToneTag's protocol into any hardware or application, enabling devices for seamless interaction and empowering customers with smart sound-based experiences. ToneTag's technology is described as device-agnostic, platform-independent, and supports integration across modern as well as traditional devices using data-over-sound technology. Developer documentation is at www.tonetag.com/developer.
What industry is ToneTag in?
ToneTag's product category is Digital Payments Technology. Its primary akta.pro industry code is HDAAAJAF, On-Device Speech & Audio AI (wake word, ASR, enhancement), with a secondary code of HDAIAHAL, Voice Security, Fraud Prevention & Authentication (STIR/SHAKEN, anti-spam). Its NAICS code is 517810 and its SIC code is 3669.