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Apple Pay now allows you to make payments wirelessly just by tapping your smartphone on a POS terminal. MasterCard is developing a system that verifies transactions using selfies. And of course there’s the blockchain, a new way of clearing money transfers that banks are racing to capitalize on.

All of these initiatives push the boundaries of the industry, but they aren’t revolutionary. Sure, the technologies enhance the way we transact with our favorite brands and bring a new level of convenience to the cashless movement. But at the end of the day, that’s all they are: enhancements.

For a complete disruptive experience, businesses are turning to Soundpays. The Toronto-based startup has created a new way to authenticate and initiate payments using sound waves. Its applications in the everyday world will blow your mind.

“Everybody’s interested in replacing their wallet with their phone, but there’s no truly ubiquitous way to do that until now. There’s mobile wallets that will work in store with NFC, there’s different implementations online, but none that crosses a whole spectrum of purchase opportunities,” said Jason Squire, CTO and co-founder of Soundpays.


Impulse Buying Mode: On

Say you’re watching TV and a commercial for a new wearable comes on. After imagining yourself using the device, you want to buy it. If your dad was watching the commercial, he would reach for the phone and try to call in an order. On the other hand, you would probably search for the website on your phone or tablet and purchase the gadget online. For the next generation of buyers, they would simply open the Soundpays app and execute the order.

Through inaudible sound waves coming from the commercial, the company offers its products for sale directly to your handheld device. As a consumer, you don’t have to do anything. Simply look down at your phone and the product that you’re seeing on TV will magically appear in an online shopping cart. A quick fingerprint scan, PIN code or selfie (if you’re using MasterCard facial recognition technology) is all it takes to complete the transaction.


What Else Can It Do?

If this purchasing method catches on, every show, commercial, YouTube video and music streaming clip will provide the option for you to buy something. Oh, and the technology works on almost all types of phones. Unlike today’s wireless payments that rely on the latest NFC features and a POS terminal equipped to handle contactless transactions, the only prerequisites for Soundpays are a device with a built-in microphone, which the majority of phones already have, and the app.

“We can white label, so we can power anybody’s wallet, anybody’s app and allow them instantaneous access to video, to radio, to TV. And our niche is we can truly be working with anything,” highlighted Squire. “No other payment solution works on video, works on radio, works on TV, works on display ads, works online, works in-store. It just doesn’t exist — whereas we can enable all of that. There’s nobody that we found yet that can do all of that in one go.”

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