System, method and electronic device providing proximity based communication and notification are disclosed. Presence of the electronic device is detected in a pre-defined area according to a detection methodology. The electronic device is then engaged according to an availability of identification details of the electronic device. The electronic device receives one time authentication request to collect the business identity and map it with the network identity. The business identity of the electronic device is verified and contact details of the electronic device are obtained. Subsequently when the electronic device enters the proximity range of a WiFi network, the system identifies its presence. The system identifies the contact details of the device based on the mapping of the network identity and business identity of the electronic device. The system sends multi-mode message communications to the electronic device based on defined proximity rules. The proximity rules can also be defined in such a way that the system sends multi-mode message communications to the electronic devices of the business.