Using Sound Waves In Paytm Mobile Payment App And Bitcoin Wallet Security. newsbtc Keeping financial wealth safe and secure is of the utmost importance to consumers all over the world. With financial services not being available to everyone on this planet, alternative ideas are being tossed around, and Paytm has come up with a new concept to let users transfer money through ultrasonic sound waves. A similar concept has been proposed for Bitcoin wallet purposes at Inside Bitcoins Berlin in 2015.
Also read: Bitcoin Price Technical Analysis for 19/01/2016 – Pullback to Double Top Neckline? Paytm Experiments With Sound Pay
On paper, the idea of using ultrasonic sound waves to transfer money and make payments might seem a bit ridiculous, but there are a few merits to this concept. Even though this technology is still in its early stages, Paytm has come up with a solution for both merchants and consumers.
The way the system works is relatively easy: the mobile Paytm app will feature a “sound pay” button. Once this button has been pressed, the app will emit ultrasonic sound waves that contain data. Included in this data is the amount to be paid by the consumer, as well as their own credentials for completing the process. In a way, this is one of the first true forms of contactless payments in the traditional financial world.
Such a new payment system would be of little to no use if proper security measures were not implemented. For example, payments will not complete unless the customer’s Paytm wallet contains enough funds. However, Paytm did not comment on how the security process for these ultrasonic sound waves will be handled.
One thing to note about ultrasonic sound waves is how the human ear is incapable of capturing this “noise.” This same type […]
