According to an official release, ToneTag, a Bangalore-based edge solutions provider, is now introducing edge computing to strengthen its proximity payments solutions. This initiative is expected to involve processing data closer to the source of generation rather than relying solely on centralised servers or cloud infrastructure. By bringing payment processing to the edge, ToneTag mitigates common issues such as network delays, server downtimes, and connectivity constraints, delivering swift and dependable transactions regardless of the infrastructure quality or network status.
“While India processes 10 billion UPI transactions monthly, even small transactions of Rs.10 navigate four plus server hops, exposing infrastructure issues. Edge computing can processes these transactions locally and send confirmation to nearby devices securely via soundwaves or NFC hence ensuring faster and reliable transactions,” Kumar Abhishek, CEO and founder, ToneTag.
It is believed that the collaboration of edge computing and contextual AI can enable intelligent payment orchestration at physical retail stores. Contextual AI understands user behaviour and preferences before actual purchase happens allowing enough time for partner apps to provide personalise payment experiences, better credit facility as well as real-time discount curation.
ToneTag’s solutions are expected to work in retail outlets, car dashboards, EV charging stations, vending machines or consumer appliances like TVs, and refrigerators, among others. “By leveraging edge computing and contextual AI, we plan to help businesses scale adoption of digital transactions, propelling a cashless economy,” Kumar concluded.
