• Let's Talk Payments, Monday, August 4, 2014 12:05 PM

An Israeli startup, Pronto.ly, is working on a technology that involves the use of high-pitched soundwaves to establish a contactless connection between two devices. It is being portrayed as an alternative to NFC. The technology requires only that the devices be embedded with a built-in microphone and speakers. No actual data transfer is involved; the technology simply uses ultrasound to identify and authenticate devices within proximity. The data transfer between the devices can then take place through cloud-based backend technology.

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