One97 Communications Limited (OCL), that owns the brand Paytm, on Monday announced the launch 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 Soundbox with ‘tap and pay’ that will help merchants scale their business.

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Paytm said it is the first company to launch audio-based confirmations with Paytm Soundbox, transforming in-store payments in the country.

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," the company said.

"Paytm Card Soundbox has a built-in ‘tap and pay’ functionality through which merchants can accept card payments up to Rs 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," it added.

Vijay Shekhar Sharma, Founder & CEO, Paytm said, “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."

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.”

Anurag Gupta, Vice President & Head - Acquiring & Network Issuing, American Express, said, “Audio payment alerts are transforming digital payments in India and have enabled many merchants to seamlessly digitize their businesses. After revolutionizing mobile payments by pioneering Soundbox in India, Paytm Card Soundbox will further boost digitisation in the country. It is India’s first Soundbox that also accepts card payments, this would help accelerate the growth of cashless transactions in the country and Amex is happy to be a partner with Paytm on this acceptance growth. ”

(Edited by : Anshul)

First Published:Sept 4, 2023 4:09 PM IST