Start-up Naratte introduces new tech that uses a device's speaker and mic to make transactions.

While many major companies have been researching NFC (near-field communication) for mobile payments, limited by the need for devices to be fitted with an NFC chip, Silicon Valley start-up Naratte has developed Zoosh, a technology that provides the same benefits but uses current models without a hardware upgrade.

Transactions would be completed by ultrasonic sound, using the built-in speaker and microphone of existing mobile phones running the necessary app. The company says cash registers can be upgraded to accept payments the same way, for just $30. Secure data transfer and mobile payments through a simpler and more cost-effective method than NFC sounds like this technology has great potential.

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