Mumbai September 7 2023 - One97 Communications Limited (OCL) that owns the brand Paytm, India’s leading payments and financial services company has launched of its latest innovation – Card Soundbox. With this, the company empowers merchants to accept both mobile and card payments across all Visa, Mastercard, American Express and RuPay networks through its iconic Soundbox with ‘tap and pay’ that will help merchants scale their business
Paytm was the first company to launch audio-based confirmations with Paytm Soundbox, transforming in-store payments in the country. Focussed on creating technology-led innovations, the company continues to be the market leader in in-store payments with devices like Paytm Soundbox and Card Machines. After the recent successful launch of Paytm Pocket Soundbox and Paytm Music Soundbox, with Paytm Card Soundbox, the company is driving further convenience for merchants.
With Paytm Card Soundbox, the company solves two problems for merchants — accepting card payments along with getting instant audio alerts for all payments. The launch of Paytm’s unique device will transform in-store payments by expanding payment acceptance for merchants by combining Soundbox with NFC or contactless debit and credit card payments with mobile payments. An industry-first solution, the new Soundbox provides both audio and visual payment confirmation through a LCD display to the merchant and the customer.
Paytm Card Soundbox has a built-in ‘tap and pay’ functionality through which merchants can accept card payments up to ₹5,000. The Made in India device is powered by 4G network connectivity providing fastest payments alerts. With a 4W speaker, Paytm Card Soundbox enhances clarity of payment alerts. It has a long battery life of five days. Designed keeping the diverse merchant base in mind, the device offers alerts in 11 languages that can be changed by the merchant through Paytm for Business app. Moreover, with Paytm Card Soundbox, users with NFC-enabled smartphones can also pay through their phones using the tap feature.
Vijay Shekhar Sharma, Founder & CEO, Paytm said, “Paytm has always been at the forefront of innovating for India’s small businesses, solving their payments and financial services problems. Today with Paytm Card Soundbox, we take it to the next level. We have found that merchants and consumers need card acceptance as simply as mobile payments with Paytm QR Code. The launch of Card Soundbox will go a long way in merging the two requirements of merchants - mobile payments and card payments.
Gautam Aggarwal, Division President, South Asia, Mastercard said "With cardholders increasingly exploring faster, convenient, and more efficient ways to transact, India has seen remarkable growth in contactless card payments. By putting the cardholder in control and uniquely encrypting each transaction, such payments reduce the risk of loss or counterfeit and double billing. The Paytm Card Soundbox is yet another innovation that will enable small merchants to provide a seamless digital payment experience to their customers by easily accepting contactless card payments.”
NPCI said, “Audio payment alerts have transformed digital payments in India and enabled many merchants to seamlessly digitize their businesses. Paytm Card Soundbox is India’s first Soundbox that will also accept contactless card payments and would further accelerate cashless transactions in the country.”