Naratte, a relatively new company, has broken new grounds in regards to near field communication (NFC). Zoosh, its new technology aims to bring the dreams of smart phones and tablets serving as payment method a reality. Instead of relying on the standard 2004 patented NFC chips, this innovation uses ultrasound to perform secure mobile transactions.
Drastically removing the barriers of having to incorporate NFC chips into both senders and receivers, the Zoosh can be added to any application or device through a simple software update. Moreover, unlike the standard NFC chips, which are expensive to manufacture and complicated to add to every day devices, the Zoosh will be comparatively more cost-effective for consumers and merchants alike.