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Paytm Launches Paytm Card Soundbox In India With Paytm Card Soundbox, the company said its aims to solve two problems for merchants — accepting card payments along with getting instant audio alerts for all payments

By Teena Jose

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One97 Communications Limited (OCL) that owns the brand Paytm, India's payments and financial services company of QR and mobile payments, today 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 its Soundbox with 'tap and pay' that will help merchants scale their business.

With Paytm Card Soundbox, the company said its aims to solve 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, said the company in a press statement.

"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," said Vijay Shekhar Sharma, founder and CEO, Paytm.

As per the statement, Paytm Card Soundbox has a built-in 'tap and pay' functionality through which merchants can accept card payments up to INR 5,000. 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.

"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," said Gautam Aggarwal, Division President, South Asia, Mastercard.

After the recent launch of Paytm Pocket Soundbox and Paytm Music Soundbox, with Paytm Card Soundbox, the company aims to drive further convenience for merchants.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

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