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Paytm Launches 4G Soundbox Payment Device

Paytm Soundbox audio confirmation solution now comes in 4G to boost the payment acceptance experience for merchants in India

Paytm 4G Soundbox

Indian merchants will now get seamless and secure payment collections with Paytm 4G Soundbox. Image: paytm.com

Indian fintech Paytm has launched 4G-enabled Soundbox 3.0 to further empower merchant partners across the country with stable connectivity for instant payment audio alerts.

The new iteration of Soundbox comes with a new design and a 7-day-long battery backup. In areas where there is no 4G connectivity, it automatically shifts to the 2G network for uninterrupted operations.

The auto-assisted device supports 11 languages including English, Hindi, Tamil, Telugu, Kannada, Marathi, Malayalam, Bengali, Gujarati, Punjabi, and Odia. Language settings can be changed by the merchants anytime through the Paytm for Business app.

The company claims Soundbox 3.0 is also highly durable and splash-proof, which prolongs the lifetime of the payment device and saves the merchant’s costs on repair or replacement.

Paytm Soundbox product has been extremely successful with local small and micro-businesses. As of 31 March 2023, more than 6.8 million merchants were paying subscriptions for Paytm’s payment devices like Soundbox and POS. According to the fintech firm, more than 5 billion digital payment transactions were processed through Soundbox devices in FY22, with a new device being purchased by a merchant every 6 seconds.

The device enables easy payment tracking with instant audio alerts in multiple regional languages. Besides, Soundbox supports multiple payment methods such as Paytm Wallet, Paytm Postpaid BNPL solution, Paytm UPI, other BHIM UPI apps, net banking, and cards.

Furthermore, merchants receive additional benefits with Soundbox 3.0. These include an instant loan facility via Paytm’s lending partners, cashback on receiving payments, and 24-hour helpline support with a 1-hour call-back policy.

Although Paytm has no significant competition in offline payment solutions, several other fintech companies are now joining the race to create their own devices for audio payment alerts. As we have recently reported, Worldline launched Voice Alert Box to boost financial inclusion in India.

Nina Bobro

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https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.