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Contactless transactions are here to stay, as they’ve become ingrained in our daily lives. From picking up our groceries at the curb to sending some extra cash to a friend through an app, contactless mobile transactions are quickly becoming our norm.

We are accelerating to a cashless society in which mobile payments are becoming increasingly important. A recent study completed by McKinsey found that over three-quarters of US consumers made a mobile payment of some type in 2019—even before the COVID-19 pandemic. They also found that the most-often-used apps include digital wallets that enable in-store and P2P payments.

What Is Mobile to Mobile?
One of the most common types of contactless technologies is the mobile-to-mobile payment. An example of a widely-accepted use case of mobile-to-mobile is the peer-to-peer (P2P) payment. Using P2P, you can send money or payments to other users via apps like Venmo, PayPal or Cash App. Mobile-to-mobile is also enabled through the use of digital wallets like Apple Pay.

Mobile-to-mobile payments remove the need to carry cash or a wallet full of credit cards. They also “promise” speed and simplicity. Payments are sent using a linked bank account or credit card and then verified using a one-time-pin (OTP), QR code or another authentication tool.

LISNRⓇ: Enabling Seamless & Contactless Mobile-to-Mobile Transactions
We now live in a world where 82% of consumers expect a fast, contactless and seamless checkout experience, no matter where they are. And, unfortunately, solutions like the QR code are oversaturated, cumbersome and not entirely contactless or seamless. They just can’t keep up.

LISNRⓇ enables truly contactless transactions between any two mobile devices anywhere. Our product, LISNRⓇ Point, enables short-range, reliable 1:1 ultrasonic data transfer and authentication (SDK) between devices within three feet and under.

How Does It Work?
The action begins on the customer’s mobile device, called the client device. They open the app and navigate to the LISNRⓇ listening screen. On the backend, the merchant device beacons a unique node ID that the client device receives. Once the payload is received, it’s sent automatically for verification. The entire process happens via ultrasonic technology or data-over-sound.

Point doesn’t require a network and works on all devices. The required micro-communications travel via sound between devices using standard speakers and microphones. The best part? No QR code is ever required.

Move Beyond the QR Code With LISNRⓇ
It’s time to move forward. Give your customers the truly contactless experience they want with LISNRⓇ. To learn more about incorporating mobile-to-mobile payments via our contactless technology, give us a call today at 513-322-8400 or send us a message.