Amazon backs Indian startup for offline payments in India

Amazon has led an investment of $6.5 million in Bengaluru-based digital payments startup ToneTag for contactless transactions in India. "ToneTag's sound wave technology will be integrated for payment on delivery for Amazon customers, which is expected to go live in three-four months. Customers will be able to use Amazon Pay at three lakh offline merchants," said ToneTag CEO Kumar Abhishek.