SndKey is a platform that enables companies such as gateways and ecommerce websites to launch their own mobile wallet, which can be used for payments on websites and in retail stores.
The SndKey solution uses the NearBytes communication SDK plus the NearBytes security layer that handles all Dynamic Security Code (DSC) generation and authentication, digital identity storing and gateway interface.
NearBytes is a sound-based data transfer technology that works by sending encrypted data from one device to another as a sequence of chirps that sound like a cricket. Because the technology relies on a mobile phones built-in microphone and speaker, no add-ons or internet connection are necessary. All it takes is to place the two systems a few inches from each other.
In recent news, Zimbabwe-based banking solutions provider Edgetech Solutions has entered an agreement with NearBytes to leverage the latter’s technology in order to develop the Edgepay POS terminal, which works in conjunction with an app on the payers mobile phone. The app is currently available for iOS and Android devices.
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