Sep 4 – Paytm, India’s top payments and financial services firm and the pioneer of QR and mobile payments, debuted Card Soundbox on Monday.
Through its distinctive Soundbox with ‘tap and pay,’ the company will enable retailers to accept both mobile and card payments across all Visa, Mastercard, American Express, and RuPay networks, allowing merchants to scale their business.
“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,” said Vijay Shekhar Sharma, Founder & CEO, Paytm.
Paytm was the first company to introduce audio-based confirmations with Paytm Soundbox, revolutionising in-store payments in India.
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With devices such as the Paytm Soundbox and Card Machines, the firm remains the industry leader in in-store payments, focusing on creating technology-led innovations.
“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,” said Gautam Aggarwal, Division President, South Asia, Mastercard.
Following the successful launch of Paytm Pocket Soundbox and Paytm Music Soundbox, the firm is now delivering even more ease for retailers with Paytm Card Soundbox.
Paytm Card Soundbox solves two difficulties for merchants: taking card payments and receiving fast audio alerts for all payments. Paytm’s innovative technology, which combines Soundbox with NFC or contactless debit and credit card payments with mobile payments, will alter in-store payments by expanding payment acceptance for merchants.
“Audio payment alerts have transformed digital payments in India and enabled many merchants to seamlessly digitise 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,” said NPCI.
The new Soundbox will deliver both audio and visual payment confirmation to the business and the customer via an LCD display.
“The launch of Paytm Card Soundbox demonstrates the importance of contactless card payments in today’s world. Visa is proud to be part of this innovation, which offers a versatile solution for merchants and aligns with the changing preferences of consumers in India,” said Sandeep Ghosh, Group Country Manager, India and South Asia, Visa.
Merchants would be able to take card payments up to Rs 5,000 thanks to built-in ‘tap and pay’ feature. The device uses 4G network access to provide the quickest payment alerts.
Paytm Card Soundbox improves the quality of payment alerts with a 4W speaker. It boasts a five-day battery life as well.
“After revolutionising 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,” said Anurag Gupta, Vice President & Head – Acquiring & Network Issuing, American Express.
Furthermore, the device provides alerts in 11 languages, which can be customised by the merchant using the Paytm for Business app. Furthermore, Paytm Card Soundbox allows users with NFC-enabled smartphones to pay through their phones utilising the tap feature.
