Paytm Launches Paytm Card Soundbox That Enables Card Payments

One97 Communications Limited (OCL) that owns the brand Paytm, on Monday announced the launch of Card Soundbox, the company announced through an exchange filing.

With this, the company empowers merchants to accept both mobile and card payments across all Visa, Mastercard, American Express and RuPay networks through its iconic Soundbox with ‘tap and pay’ that will help merchants scale their business.

Paytm was the first company to launch audio-based confirmations with Paytm Soundbox, transforming in-store payments in the country. 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.

Paytm Card Soundbox has a built-in ‘tap and pay’ functionality through which merchants can accept card payments up to Rs 5,000. The Made in India device is powered by 4G network connectivity providing fastest payments alerts. With a 4W speaker, Paytm Card Soundbox enhances clarity of payment alerts. It has a long battery life of five days.

“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, said Vijay Shekhar Sharma, Founder & CEO, Paytm.

NPCI said, “Audio payment alerts have transformed digital payments in India and enabled many merchants to seamlessly digitize 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.”

One97 Communications Limited shares

The shares of One97 Communications Limited on Monday at 3:30pm IST were at Rs 856, down by 0.16 percent.