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This shift has led to a bunch of great advancements in mobilebanking and money apps, making it possible for financial services to reach even the most remote areas. Governments are promoting digital payment systems and mobilebanking to reach unbanked populations. The use of nontraditional data for lending.
This process also comes with hurdles like regulations, fees, compliance standards, and payment card issuers — all of which become increasingly complex for international transactions. The company has taken an aggressive but strategic approach towards new market entry, expanding globally through its open engineering and easy integration.
Its first entry point in the market was in payments in October 2014. ToneTag is a contactless payments hardware and software provider that can be integrated at both merchant (mobile, point of sale, card readers) and customer (mobile wallet, mobilebanking apps) interaction points.
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