Ultrasonic data transmission technology provider LISNR has secured a new investment from Visa to accelerate its growth in mobile payments.
LISNR is focused on enabling transactions and connected moments across the customer journey around the world, and the financing is part of its commercial relationship with Visa.
LISNR CEO Eric Allen said: “LISNR is a better method vs. alternatives like NFC or QR codes for mobile payments globally, it decentralizes payment scenarios across a wide range of payment moments with advanced data protection, ability to transact at a distance and concurrent transactions – all which are designed to accelerate payments overall.
“We are excited about our growing relationship with VISA and are looking forward to continuing to drive innovation in financial services.”
LISNR develops ultrasonic transmission technology for payments
The company said that its advanced ultrasonic data transfer technology enables merchants and payment providers to accept mobile payment data securely across the customer journey.
The platform offers advanced features, including scan-and-go, store pickups, pay zones, Point-of-Sale, at home with e-commerce, and even voice-enabled purchases.
In addition to the payments, LISNR also provides advantages for facilitating other payment use cases, including proximity messages, authentication, and identification through its features.
LISNR claims that it offers improved mobile payment product across a wide range of use cases in the market, and the recent investment and commercial partnership with Visa would further strengthen its expansion into the retail sector.
The company said that it is initially focused on retail solutions and financial solutions across the world, and clients will be able to experience the ultrasonic payments platform this year.
Furthermore, it is also planning to collaborate with Visa to incorporate additional payment use cases in mobility, transportation and ticketing.
LISNR was established in 2012 and is involved in the development of data over sound solutions and ultrasonic platform, with the most advanced transmission features.
