In a groundbreaking move, One97 Communications Limited (OCL), which owns brand Paytm, has introduced its latest innovation – the ‘Card Soundbox.’
Paytm Card Soundbox is India’s first Soundbox that will also accept contactless card payments and would further accelerate cashless transactions in the country.
This announcement marks a significant step in empowering merchants across India by enabling them to seamlessly accept both mobile and card payments across Visa, Mastercard, American Express, and RuPay networks through the iconic Soundbox device, equipped with a ‘tap and pay’ feature, aimed at catalyzing business expansion.
Paytm, renowned for pioneering audio-based confirmations with its Paytm Soundbox, has continued to lead the market in in-store payment technology innovations.
Features
Following the successful launches of the Paytm Pocket Soundbox and Paytm Music Soundbox, the introduction of the Paytm Card Soundbox reinforces the company’s commitment to enhancing merchant convenience.
The Paytm Card Soundbox —priced at ₹ 999–addresses two critical challenges faced by merchants – the acceptance of card payments and receiving instant audio alerts for all transactions.
This innovative device combines Soundbox technology with NFC or contactless debit and credit card payments, revolutionising in-store payments.
It stands as an industry-first solution, providing both audio and visual payment confirmations via a LCD display, benefiting both merchants and customers.
The Paytm Card Soundbox comes equipped with a built-in ‘tap and pay’ functionality, allowing merchants to accept card payments of up to ₹5,000.
This ‘Made in India’ device harnesses 4G network connectivity for lightning-fast payment alerts.
Boasting a powerful 4W speaker, it enhances the clarity of payment notifications and boasts an impressive five-day battery life.
Catering to a diverse merchant base, the device offers alerts in 11 languages, customizable by the merchant through the Paytm for Business app. Furthermore, users with NFC-enabled smartphones can conveniently make payments via the tap feature.
‘Boost digitisation’
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 “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.”
Sandeep Ghosh, Group Country Manager, India and South Asia, Visa said, “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.”
Anurag Gupta, Vice President & Head – Acquiring &Network Issuing, American Express, said, “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. ”
