New Investment Highlights Growth in Data-over-Audio Possibilities in Financial Services
Cincinnati, OH (Oct. 25, 2017) – LISNR®, leading global provider of data-over-audio technology, announces it has secured a strategic investment from Synchrony Financial, a premier consumer financial services company. The investment is part of a larger, undisclosed round with participation from Mercury Fund, Jump Capital, NGMP, and Danmar Capital.
LISNR® is an advanced, near-ultrasonic, ultra-low power data transmission technology that enables fast, reliable, and secure communication between devices that have a speaker and/or microphone. Acting as a local proxy for data transmission, our technology removes the need for complex, expensive, and power-consuming RF-based technologies.
“Sound technology is revolutionizing the payment space, helping with effortless transactions without Internet connections,” says Neeraj Mehta, Executive Vice President, Business Strategy and Development at Synchrony “LISNR continues to deliver new ways to use data-over-audio to support payments and other financial services use cases, and we’re excited to explore this technology with them.”
This investment announcement follows news of a major product innovation in data-over-audio. LISNR® has significantly increased its data throughput, positioning this technology a viable solution for financial services and making the Synchrony Financial relationship a natural fit.
LISNR® is the new standard for device connectivity using sound as the leading global provider of data-over-audio technology. LISNR®’s proprietary data-over-audio protocol is being used across the connected world to power over 100 million devices and counting. Founded in 2012, LISNR®’s near-ultrasonic protocol sends data over audio — enabling proximity engagement, seamless and secure methods of authentication, and device-to-device data transmission for automation and connectivity. For more information, visit http://www.lisnr.com.
About Synchrony Financial
Synchrony Financial (NYSE: SYF) is one of the nation’s premier consumer financial services companies. Our roots in consumer finance trace back to 1932, and today we are the largest provider of private label credit cards in the United States based on purchase volume and receivables.* We provide a range of credit products through programs we have established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers to help generate growth for our partners and offer financial flexibility to our customers. Through our partners’ over 365,000 locations across the United States and Canada, and their websites and mobile applications, we offer our customers a variety of credit products to finance the purchase of goods and services. Synchrony Financial offers private label credit cards, Dual Card™ and general purpose co-branded credit cards, promotional financing and installment lending, loyalty programs and FDIC-insured savings products through Synchrony Bank. More information can be found at www.synchronyfinancial.com, facebook.com/SynchronyFinancial, www.linkedin.com/company/synchrony-financial and twitter.com/SYFNews.
*Source: The Nilson Report (June 2017, Issue # 1112) – based on 2016 data.