PayTM Introduces Two-in-one NFC Card Soundbox
The Soundbox consolidates mobile and card payment functionalities into a single device, mitigating the need for merchants to manage multiple machines
One 97 Communications Limited (OCL), which owns the brand Paytm, India’s payments and financial services distribution company introduces NFC-enabled Soundbox, a device that aims to streamline vendor payment acceptance and address the prevalent challenges associated with traditional card payment methods.
Vijay Shekhar Sharma (VSS), CEO of Paytm, underscored the democratising impact of the Soundbox. "With this launch, we have taken a significant leap as the government pushes for increased digital payments. The Paytm Soundbox will accommodate every card type, including credit, Visa, RuPay and more integrating both card and QR code payments," stated Sharma.
The Soundbox consolidates mobile and card payment functionalities into a single device, mitigating the need for merchants to manage multiple machines. The battery life for this device will extend up to 10 days, ensuring uninterrupted service for merchants.
Conventional EDS machines frequently pose issues, such as the upkeep of two separate devices, the inconvenience of paper rolls, and the stress of ensuring machines are charged. Additionally, these devices incur rental costs of approximately Rs 500-600 per month, further burdening merchants financially. Paytm's Soundbox resolves these problems by providing a compact, all-in-one solution that supports all card types via NFC technology.
The new Soundbox also enhances user experience by delivering audio transaction confirmations in local languages, thereby making the process more accessible and user-friendly. "We strive to eliminate technical barriers by simplifying complex jargon into everyday language," Sharma added.
Alongside the Soundbox, Paytm is introducing customised branding options for merchants, including personalised QR codes featuring the merchant's name, with options for golden QR codes and the capability to have multiple QR codes.
“A one-month pilot with merchants has yielded positive feedback, highlighting the reduced hassle of managing just one device for both mobile transactions and card payments,” Ripunjai Gaur, CBO, Offline Payments, Paytm.
Paytm pioneered the Soundbox, an innovative first-of-its-kind product, which has gained widespread popularity among offline stores, offering unparalleled convenience for merchant partners. Supporting notifications in 11 languages—English, Hindi, Gujarati, Bangla, Odia, Marathi, Punjabi, Telugu, Malayalam, Tamil, and Kannada—and featuring a range of device models, the Paytm Soundbox is designed to meet the diverse needs of offline merchants across the country.
